Tullow to P&A Gabon Well

Tullow Oil reports that the Kiarsseny Topaze South-1 exploration well, offshore Gabon, was spudded on Thursday February 12th, and reached a total depth of 2,938m. The well encountered reservoir sands in both primary and secondary objectives, but the well-developed channel sands seen at the nearby Topaze discovery were not present in this well. A sidetrack operation was carried out which also encountered a number of reservoir sands, but the logs showed that no significant quantity of recoverable oil was present at the sidetrack location. The well will now be plugged and abandoned.

The information from this well will be further evaluated to better understand the complex channel sand play of the Topaze discovery. Tullow plans to continue with a comprehensive exploration program for this prospective license area.

The Kiarsseny Marin Block is 5,442 sq km area, and lies predominantly in shallow water. The Block contains a number of oil discoveries and over forty exploration leads and prospects spread across four principal play types.

Commenting on the results of the Kiarsseny well in Gabon, Aidan Heavey, Chief Executive of Tullow said:

"We remain confident that this very large license contains a number of prospects and plays which are the focus of an aggressive exploration program. We are pleased that Sonangol P&P have decided to join us in this license in Gabon, in their first venture outside Angola. We look forward to further co-operation with them elsewhere in Africa. Our exploration program is continuing in Bangladesh, where the Lalmai well spudded on March 8th, and in the UK where the Monroe well is currently drilling."

Tullow has a 47.5% stake and is operator of the Kiarsseny Marin Block; Addax holds 42.5%, and Sonangol P&P the remaining 10%.