26th Sep 2013 11:59
LONDON (Alliance News) - Tullow Oil PLC Thursday said that it has made a new wildcat oil discovery in Western Kenya.
The oil and gas exploration and production group with over 150 exploration and production licenses across 25 countries said the drilling results and samples at its Auwerwer and Upper Lokone sandstone reservoirs show a potential net oil pay of between 60 and 100 metres.
The company said it is conducting flow testing to find out the productivity at these zones.
Tullow Oil has new made four consecutive wildcat discoveries, since its drilling commenced in 2012 in Northern Kenya.
"Having opened the first basin with the Ngamia-1 well last year, we are now increasing the pace of exploration in Kenya aiming for 12 wells over the next 12 months," Exploration Director Angus McCoss said in a statement.
Tullow Oil shares were up 4.00 pence to 1,057.00p Thursday early afternoon.
By Tom McIvor; [email protected]; @TomMcIvor1
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