Wednesday, September 28, 2011

Tullow Oil: Enyenra-3A Well Has Successfully Encountered Oil
LONDON -(Dow Jones)- Tullow Oil PLC (TLW.LN), a independent oil and gas exploration group, Wednesday said the Enyenra-3A appraisal well, in the Deepwater Tano license offshore Ghana, has successfully encountered oil in high quality sandstone reservoirs.


-Pressure data indicates that the Enyenra-3A well has confirmed an up-dip extension of the Enyenra oil field.

-Well was drilled to test the up-dip extent of the Enyenra oil field.

-Results of drilling, wireline logs, samples of reservoir fluids and pressure data show that Enyenra-3A has intersected 17 meters of 35(o) API net oil.

-Pressure data confirms a continuous oil column of at least 365 meters and that the oil at Enyenra-3A is in static pressure communication with both the Owo-1 discovery well and the Enyenra-2A appraisal well.

-Deepwater Millennium drillship drilled Enyenra-3A to a total depth of 4,031 meters in water depths of 1,102 meters.

-Drillship will depart the Deepwater Tano block in late October having recently been replaced by the Sedco Energy drillship.

-Sedco Energy will later drill the Enyenra-4A well to further appraise the downdip extent of the field.

-Well will be located 6.8 kilometers, or km, south of Enyenra-2A and over 20km downdip from the Enyenra-3A well and a result is expected at the end of the year.

-Enyenra-5A well also is then likely to be drilled north of Enyenra-3A to test the ultimate updip extent of the field.

-Tullow (49.95%) operates the Deepwater Tano license and is partnered by Kosmos Energy (KOS) (18%), Anadarko Petroleum (APC)(18%), Sabre Oil & Gas (4.05%) and the Ghana National Petroleum Corporation (GNPC) (10% carried interest).

-Shares of Tullow on Tuesday closed at GBP13.20.

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