15th Jan 2007 07:01
Tullow Oil PLC15 January 2007 News release Tullow Oil Plc - Kingfisher Well Update - Uganda 15 January 2007 - Heritage Oil, the operator of the Kingfisher-1 explorationwell in Uganda, in which Tullow Oil plc ("Tullow") is a 50% partner, todayissued the following press release: HERITAGE OIL ENCOUNTERS HYDROCARBONS IN KINGFISHER-1A WELL IN UGANDA Heritage Oil Corporation (TSX: HOC) today announced that hydrocarbons in threezones totalling approximately 40 metres have been encountered in theKingfisher-1A well in Block 3A, Uganda. As reported on November 6, 2006, a secondary objective of the Kingfisher-1 wellsuccessfully flow tested 4,120 barrels of oil per day from two zones perforatedover an interval between 1,783 and 1,795 metres. The oil was light (c. 30degreesAPI) and sweet with a low gas-oil ratio and some associated wax. Following the encouraging result in the secondary objective of the Kingfisher-1well, the partners commenced drilling the Kingfisher-1A sidetrack, which aimedto step-out into the basin to test the primary exploration objectives of thewell and penetrate as much of the deeper sedimentary section as possible to amaximum depth of 4,000 metres. Since the last report, the Kingfisher-1A well hasbeen successfully cased to 2,502 metres and drilled to a depth of 2,962 metres. New drilling in the deeper section has encountered three additional potentialoil-bearing zones totalling approximately 40 metres between 2,260 and 2,370metres, evidenced by wireline logging and formation pressure testing. Plannedtesting of these zones will follow completion of drilling, to a target depth ofbetween 3,000 and 4,000 metres, which it is estimated will take up to a further45 days. Test equipment has remained on site in readiness for the testing. The Kingfisher prospect is a very large structural high that is expressed atsurface on the bed of Lake Albert. Seismic data indicates the Kingfisherprospect has an areal extent of up to approximately 70 square kilometres,although the Kingfisher-1A well is only investigating a limited part of thisstructure. As part of an accelerated work program in Uganda, the joint venture partners areplanning to acquire approximately 270 square kilometres of 3D seismic over theKingfisher structure commencing in the first half of 2007. Options for furtherdrilling of the Kingfisher prospect and other prospects in Lake Albert are beingappraised. Heritage is operator of and holds a 50% interest in Block 3A, which has an areaof 1991 square kilometres. Heritage is also operator of and holds a 50% interestin Block 1, which has an area of 4,285 square kilometres and is located to thenorth of Block 3A in the Albert Basin. Tullow holds the other 50% interests inBlocks 3A and 1. 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 MurrayAngus Mc CossChris 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 over 100exploration and production licences across over 20 countries and focuses onthree principal core 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), Mauritania and Equatorial Guinea and a large gas fielddevelopment and appraisal programme in Namibia. Tullow also has explorationprogrammes in Mauritania, Senegal, Cameroon, Uganda, Congo (DRC),Tanzania,Madagascar, Angola and Ghana. In South Asia, Tullow has exploration and production in Pakistan and Bangladeshand high impact exploration activities in India. Following the recently completed acquisition of Hardman Resources Limited,Tullow also has high impact exploration interests in French Guyana, Surinam andthe Falkland Islands. 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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