Tullow Oil Announces Odum-1 Oil Discovery

Source: www.gulfoilandgas.com 2/25/2008, Location: Africa

Tullow Oil announced an oil discovery on the Odum-1 exploration well in Ghana. Odum-1, the second exploration well drilled on the West Cape Three Points licence offshore Ghana, has discovered a commercial light oil accumulation based on the results of drilling, wireline logs and a sample of the reservoir fluid. The well, in water depths of 955 metres, has been drilled to a depth of 3,387 metres and has encountered a gross oil column of 60 metres and 22 metres of net pay samples recovered from the reservoir indicate an oil gravity of approximately 29 degrees API.

The discovery is a stratigraphic trap in a Campanian age fan system and opens a second new play fairway in the Tano Basin. Further prospectivity in this new Campanian play has already been identified in both the West Cape Three Points and Deepwater Tano licences.

Following completion of drilling operations on Odum-1, the well will be suspended as a future development well and the Songa Saturn drillship will move to drill Mahogany-2, the next appraisal well on the Jubilee field.

While appraisal of the upside of Jubilee is ongoing, the field partnership is also working on plans for a phased development of the field. The Eirik Raude fifth generation semi-submersible has been contracted for a minimum of three years and is a critical element in our plan to target first oil in 2010.


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