10th Oct 2006 13:30
Tullow Oil PLC10 October 2006 Tullow Oil plc - Kingfisher-1 Exploration Well Update 10 October 2006 - Heritage Oil, the operator of the Kingfisher-1 explorationwell in Uganda, in which Tullow Oil plc (Tullow) is a 50% partner, today issuedthe following press release. Heritage Oil to production test Kingfisher-1 exploration well in Uganda Heritage Oil Corporation (TSX: HOC) today announced that it is preparing toproduction test the Kingfisher-1 exploration well in Block 3A, Uganda. TheCompany is planning to test up to four intervals with a total net pay of 37metres in a stacked sand and shale sequence that is typical of the basin. Inorder to do so, drilling operations have been temporarily suspended. The well has been drilled to a depth of 2,125 metres, and wireline logs andformation pressure testing and sampling have evidenced encouraging indicationsof hydrocarbons. Heritage anticipates that it will commence testing of theKingfisher-1 well within a month and the testing program is scheduled to take upto three weeks. The well encountered hydrocarbons within a section above the primary objective.Drilling to the primary objective is planned to recommence after this initialwell testing operation has been completed. It is estimated that it could take afurther 60 days to reach target depth of between 3,000 and 4,000 metres. Further details about Heritage's exploration activities in Uganda will beannounced when the results of the initial test program are available. Heritage is the Operator of Block 3A in Uganda with a 50% equity in the license,with Tullow Oil holding the remaining 50% interest. For further information contact: Tullow Oil plc Citigate Dewe Rogerson Murray Consultants(+44 20 8996 1000) (+44 20 7638 9571) (+353 1 498 0300)Tom Hickey Martin Jackson Joe MurrayChris Perry 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 across 17 countries and focuses on threecore areas: 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 exploration and production 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, Congo (DRC), Madagascar, Angola andGhana. In South Asia, Tullow has exploration and production in Pakistan and Bangladeshand high impact exploration activities in India. 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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