Tullow’s New Oil Field Discovery Owo-1 Well

Source: www.gulfoilandgas.com 7/26/2010, Location: Africa

Tullow Oil plc (Tullow) announces that the Owo-1 exploration well in the Deepwater Tano licence offshore Ghana has intersected a significant column of excellent quality light oil. Results of drilling, wireline logs and samples of reservoir fluids have established Owo as a major new oil field requiring further appraisal.

The deviated well, located approximately 6km to the west of the Tweneboa wells, has encountered a gross vertical reservoir interval of 154 metres containing 53 metres of net oil pay in two zones of high quality stacked reservoir sandstones. Pressure data indicates that these zones are part of the same accumulation and samples show that it is a light oil of between 33 and 36 degrees API.

Following completion of logging operations the well will be sidetracked 0.6km east to provide additional information on lateral reservoir distribution and to intersect a deeper part of the Owo channel system.

The Sedco-702 dynamically positioned semi-submersible drilled Owo-1 to a final depth of 3,891 metres in water depths of 1,428 metres. On completion of operations on the Owo-1 sidetrack, the rig will remain in the Deepwater Tano block to drill the Onyina-1 exploration well which targets a large fan/channel system between the Tweneboa and Jubilee fields.

Tullow (49.95%) operates the Deepwater Tano licence and is partnered by Kosmos Energy Ghana (18%), Anadarko Petroleum (18%), Sabre Oil & Gas (4.05%) and the Ghana National Petroleum Corporation (GNPC) (10% carried interest).


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