Tullow Spuds Ebony-1 in Tano Shallow License Offshore Ghana

InterOil noted that the Ebony-1 exploration well offshore Ghana in the Tano Shallow license was spudded October 22 and will be drilled by Seadrill's West Ceres jackup rig.

The Ebony-1 well will target the turbiditic sandstones of Upper Cretaceous age. The well is located 30 km from shore in 87 m of water and will be drilled vertically down to a total depth of 2800 m sub-sea. The drilling and potential testing of the well is estimated to take approximately one month and the total investment including
testing is budgeted to be US $33 million.

The Ebony prospect, composed of stacked submarine fans, is a similar type of play as the recent major discoveries, Jubilee and Odum made by Tullow and Kosmos in the West Cape Three Point Block and Deepwater Tano Block to the South and Southeast of the Ebony prospect.

InterOil has a 31.5% working interest in the Tano Shallow license, where Tullow Oil is the operator with an interest of 31.5% as well. The remaining Joint Venture partners include Thani Ghana (22.5%), Sabre Oil (4.5%) and the Ghana National Petroleum Corporation (GNPC) with 10% carried interest.

Company: Tullow Oil more info
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Company: Ghana National Petroleum more info
 - Russia's Gazprom Signs LNG Supply Deal With Ghana (Sep 18)
 - National Petroleum: Ghana Oil Output To Hit Up To 110,000 Bpd In 2014 (Apr 08)
 - Ghana President Names New Head of State Oil Company (Sep 20)
Company: Seadrill Ltd more info
 - Norway's Seadrill Gets Two Rival Debt Restructuring Proposals (Oct 23)
 - Seadrill's Debt Overhaul Faces Creditor Scrutiny (Oct 02)
 - Seadrill Files for Bankruptcy in Bid to Shrink Debt Burden (Sep 13)
Company: Interoil Exploration & Production ASA more info
 - Interoil Mulls Share Placing to Fund Colombia Field Development (Mar 06)
 - InterOil Farms Out Two Blocks in Colombia (Mar 02)
 - InterOil Reports $24M Operating Profit for 4Q 2011 (Feb 20)
Company: Sabre Oil and Gas Limited more info
 - Tweneboa Confirmed as Major Field Offshore Ghana (Jan 21)
 - Odum-2 Appraisal Well Confirms '08 Discovery Offshore Ghana (Dec 08)
 - Massive Jubilee Field Extended by Successful Appraisal (Oct 15)
Company: Thani Ghana more info
 - Tullow Spuds Ebony-1 in Tano Shallow License Offshore Ghana (Oct 23)
 - Appraisal Well Spudded in North Tano Field Offshore Ghana (Sep 07)
 - InterOil to Acquire Stake in Offshore Ghana Project (Mar 14)
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