12th May 2006 07:00
Tullow Oil PLC12 May 2006 News release Tullow Oil Plc - International Activity Update 12 May 2006 - Tullow Oil plc (Tullow) announces first gas from Bangora-1 inBangladesh, a key part of the Group's Bangora/Lalmai appraisal programme, andprovides an update on international exploration drilling activities. A detailed update on Tullow's business will be provided in our Trading Statementand Operational Update in early July. An update on our UK activities is alsoplanned for later in May. FIRST GAS FROM BANGORA-1 (Tullow 30%) Natural gas production from the Bangora-1 well in Block 9, Tullow's firstproduction in Bangladesh, commenced on 9 May 2006 and has reached a grossstabilised flow rate of 50 mmscfd. This is a long-term production test andforms part of an appraisal programme to test the size and connectivity of thereservoir discovered by the Bangora and Lalmai wells in 2004. The gas is beingdelivered into the Ashuganj-Bakhrabad pipeline and will supply much needed gasinto the local market. Production data from the Bangora well will be combined with new 3D seismic data,acquired in February this year, and the results from the appraisal wells. TheBangora-2 appraisal well commenced drilling on 22 April and is expected to take40 days to reach the reservoir target. One further appraisal well is plannedwith two additional wells contingent on results. In the event of positive results from this programme, Tullow plans to declarecommerciality and submit a full Field Development Plan to Petrobangla by the endof the year. INTERNATIONAL DRILLING UPDATE Pakistan (Tullow 30%) The Shahpur Chakar-1 exploration well, drilled on the Nawabshah Block inPakistan, has been plugged and abandoned. The well was spudded on 21 Februaryand reached a total depth of 3,385m. Although shows were encountered duringdrilling, all viable reservoirs proved to be water wet. Gabon (Tullow 15%) The Gryphon Marine 1 (GRPM-1) exploration well, targeting the Gamba sandstone inthe Dogbolter prospect spudded on 21 March and reached a total depth of 2062m.The well yielded negative results and has been plugged and abandoned. Uganda (Tullow 50%) The M'puta-2 appraisal well in Block 2, to test the extent of the oil-bearingreservoirs discovered in M'puta-1, commenced drilling on 7 May. The well wasspudded three kilometres northwest of the discovery well and the planned totaldepth is 1,500m. Preparations are also under way to flow test the Waraga-1discovery at the beginning of June. Equatorial Guinea (Tullow 10%) The exploration well targeting the significant deep water Banyan prospect inBlock L commenced drilling on 5 May 2005. The well, in a water depth of 1980m,will be drilled to a total depth of 4000m. For further information contact:Tullow Oil plc Citigate Dewe Rogerson Murray Consultants(+44 20 8996 1000) (+44 20 7638 9571) (+353 1 498 0300) Martin Jackson Joe MurrayTom HickeyChris Perry Notes to Editors Tullow is a leading independent oil & gas, exploration and production group,quoted on the London and Irish Stock Exchanges (symbol: TLW) and is aconstituent of the FTSE 250 Index. The Group has interests in approximately 90exploration and production licences in 15 countries and focuses on three coreareas: NW Europe, Africa and South Asia. Tullow's NW Europe interests are primarily focused on gas in the UK SouthernNorth Sea where it has significant interests in the Caister-Murdoch System andthe Thames/Hewett areas and operates over 60% of its production. In Africa, Tullow has production and exploration in Gabon, Cote d'Ivoire, Congo(Brazzaville) and Equatorial Guinea and a large gas field development andappraisal programme in Namibia. Tullow also has exploration programmes inMauritania, Senegal, Cameroon, Uganda, Madagascar and Angola. In South Asia, Tullow has production and exploration interests in Pakistan andBangladesh and high impact exploration activities in India. In addition to onshore Block 9, Tullow also operates Blocks 17/18 offshoreBangladesh where a 2D seismic survey recently completed. Tullow has applied foran extension to this licence, to permit a sizable work programme to be carriedout, and has requested that part of Tullow's interest is assigned to Total.Both are currently awaiting Government approval. For further information please refer to our website at www.tullowoil.com ENDS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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