Tullow Confirms Major Oil Discovery Offshore Ghana

The drilling of the Owo-1 exploratory sidetrack well has extended the column of high quality light oil discovered by the Owo-1 well. The results from drilling, wireline logs and samples of reservoir fluids have confirmed that Owo is a major new oil field. The Owo-1 well encountered 174 feet (53 meters) of net oil pay, and the sidetrack well encountered an additional 52 feet (16 meters) of net oil pay in the lower part of the same channel system. Pressure data has indicated that the oil pay communicates with the reservoirs penetrated in the Owo-1 well, confirming at least 226 feet (69 meters) of total net oil pay in a substantial gross oil column of 656 feet (200 meters). Lying beneath the Owo oil field, 43 feet (13 meters) of additional net condensate pay was also discovered, with an additional 20 feet (6 meters) of net gas pay logged in the deepest sand encountered. Water was not encountered in any of the hydrocarbon-bearing reservoirs. Once logging is completed, the well will be suspended for future use in appraisal and development operations. Drilled by the Sedco 702 semisub, the well reached a final depth of 13,117 feet (3,998 meters) in waters measuring 4,685 feet (1,428 meters). Tullow (49.95%) operates the Deepwater Tano license and is partnered by Kosmos Energy Ghana (18%), Anadarko Petroleum (18%), Sabre Oil & Gas (4.05%) and the Ghana National Petroleum Corporation (GNPC) (10% carried interest).

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