19th Sep 2006 07:01
Tullow Oil PLC19 September 2006 Tullow Oil plc - UK Business Update 19 September 2006 - Tullow Oil plc (Tullow) announces that the Ketch-7development well has been completed and tested at a rate of 45 mmscfd and thatthe Schooner NW appraisal well has encountered gas in the targeted Carboniferousreservoir section. FIRST PRODUCTION FROM KETCH-7 (Tullow 100%) The Ketch-7 horizontal production well, the second of the Schooner-Ketchredevelopment programme, was spudded on 2 June 2006 and, having encountered 540feet of net pay, has been completed and tested on schedule at a rate of 45mmscfd. The well, which encountered higher than expected reservoir pressures,will now be connected to the Ketch production facilities and first productionthrough the Tullow-owned CMS infrastructure is scheduled to commence in earlyOctober. The addition of Ketch-7 is expected to increase the productioncapability of Schooner and Ketch to over 100 mmscfd. The forward programme includes the 3,000 foot horizontal Ketch-8 well whichcommenced drilling on 18 September, followed by Ketch-9. Concurrent with thedrilling, well stimulation and remedial operations are in progress on otherKetch wells to further enhance production. SCHOONER NW APPRAISAL WELL (Tullow 90.35%) The NW Schooner appraisal well, targeting an extension of the main Schoonerfield, has encountered gas bearing reservoir sands. The section has been loggedand indicates a net pay of some 275 feet. The well is now being completed fortesting which is expected to commence at the end of September. Should the testyield commercial flow rates, the well will be suspended and the pipeline laidfor tie-in to the Schooner platform in mid-2007. Commenting today, Aidan Heavey, Chief Executive of Tullow said: "We are very pleased with the progress to date on the Schooner-Ketchredevelopment programme and the encouraging results from the NW Schoonerappraisal well. Since acquiring the fields in early 2005 we have significantlyimproved reliability and uptime and are now materially enhancing production andreserve potential. With the ongoing strength of UK gas pricing we are seeingexcellent returns from these assets." 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 MurrayAidan HeaveyTom 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 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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