Tullow's Ivory Coast Well Hits Water

Africa-focused Tullow Oil reported Wednesday that its Paon-2A appraisal well on the CI-103 license, offshore Côte d'Ivoire, has found water below the oil accumulation discovered at the Paon-1X well and that pressure logging has located the likely oil-water contact.

Following completion of logging operations the well will be plugged and abandoned.

Tullow Exploration Director Angus McCoss commented in a company statement:

"The Paon-2A well has efficiently identified the likely depth of the oil water contact and we are reviewing the resource range and our future monetization options. The well did not encounter oil at this location, reducing the upside volume potential associated with the Autruche field. However, including the up-dip potential above Paon-1X, the total hydrocarbon column of the field is inferred to be up to 700 meters [2,300 feet]."

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