Tullow Continues Active African Drilling Program

Tullow Oil last month commenced drilling of the Owo-1 exploration well at its Deepwater Tano license using Transocean semisubmersible Sedco 702. Drilling is expected to take approximately 60 days, including a planned sidetrack well.

The well will test the 1,400 million BOE (P10) upside case of the Greater Tweneboa area offshore Ghana. Tullow will spud its next target, the large Onyina exploration prospect, in mid-August. Sedco 702 will then be used for completion work at the Jubilee field.

Tullow will continue its Tweneboa appraisal program with the Tweneboa-3 and Tweneboa-4 wells late this year and in early 2011. A drill stem test will be conducted to obtain further information regarding the characteristics of the hydrocarbons and reservoirs to support the extensive development studies, which are already underway.

At the West Cape Three Points block also offshore Ghana, Tullow will target the Teak exploration prospect using Atwood Oceanics semisubmersible Atwood Hunter when the rig returns from drilling for another operator in late 2010.

Tullow completed the acquisition of over 2,200 square kilometers of 3D seismic data in CI-103 and CI-105 in Cote d-Ivoire; this data is undergoing high-end processing. One well is then scheduled for each block for drilling in 2011.

Final processing of 10,000 square kilometers of 3D data in Liberia and Sierra Leone is nearing completion, and Tullow is finalizing the prospect inventory. A three-well program is expected to begin during the next nine months, targeting prospects in the same plays opened by the discovery of the Jubilee and Odum fields and extended by the Tweneboa and Venus-B discoveries.

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