Tullow Hits in Southern North Sea

Tullow Oil announces a successful test of its first Caister Murdoch System III (CMS III) development well, 44/17a-6Y, in the Hawksley field, situated in the southern sector of the U.K. North Sea. The well flowed at a maximum rate of 150 million standard cubic feet of gas per day.

The 44/17a-6Y well, drilled on the Hawksley Field, is the first of six development wells being drilled on five natural gas fields which jointly form the Caister Murdoch System III (CMS III) development programme. The Conoco-operated CMS infrastructure is located 75 miles (120 kilometres) north east of Theddlethorpe St Helen, Lincolnshire, England. The co-venturers in the CMS III project are: Conoco (U.K.) Limited, as operator, 59.5 percent; GDF Britain Limited, 26.4 percent and Tullow Exploration Ltd, 14.1 percent.

The Ensco 72 jack-up exploration rig drilled the well in 60 feet (18 meters) of water between April 2002 and July 2002. The well was drilled horizontally through the reservoir and encountered over 1,000 feet of net pay in the Carboniferous Westphalian formation. An additional reservoir zone was encountered and the impact of this on the field reserves is being evaluated.

Aidan Heavey, Chief Executive of Tullow commented: "CMS III is Tullow’s most important Southern North Sea project for 2002. We are delighted, not only with the successful test of Hawksley, but also by the evidence of potential upside in the additional reservoir zone. This project is now firmly on target for first gas in the fourth quarter of 2002."