Tullow Hits Oil Pay Offshore Cote d'Ivoire

Tullow Oil plc (Tullow) announced that the Paon-1X exploration well in the CI-103 license offshore Côte d'Ivoire has intersected good quality light oil in a Turonian fan system.

Paon-1X is the first deepwater exploration well drilled in the CI-103 license and has encountered 102 feet (31 meters) of net oil pay in a gross interval of 243 feet (74 meters) of turbidite sands. Pressure data indicates that this interval contains a continuous hydrocarbon column and samples show that it is a light oil of 41 degrees API. Further analysis is required to determine reservoir quality and the extent of the fan system.

Following completion of logging operations, the well will be suspended for possible future use in appraisal and development operations.

The Eirik Raude dynamically positioned semi-submersible rig drilled the Paon-1X well to a final depth of 16,699 feet (5,090 meters) in water depths of 7,195 feet (2,193 meters).

Tullow (45%) operates the CI-103 license and is partnered by Anadarko Petroleum (40%) and the Societé Nationale d'Opérations Pétrolières de Côte D'Ivoire (Petroci) (15%).

"The discovery of light oil in our first well in CI-103 extends the proven play for oil westwards from our successes in Ghana and is encouraging for our future exploration efforts elsewhere in this license. We look forward to further drilling in CI-103 during 2013," Exploration Director Angus McCoss said.