Tullow Hits Oil Pay Offshore Ghana

Tullow Oil intersected a significant amount of light oil in the Owo-1 exploration well in the Deepwater Tano license offshore Ghana, potentially adding a billion barrels of oil equivalent to the resource estimate for the area. The deviated well encountered a gross vertical reservoir interval of 505 feet (154 meters) containing 174 feet (53 meters) of net oil pay in two zones of high quality stacked reservoir sandstones. Pressure data indicates that these zones are part of the same accumulation, and samples show that the oil is light, between 33 and 36 degrees API. Following the completion of logging operations, the well will be sidetracked .4 miles (.6 kilometers) to the east to provide additional information on lateral reservoir distribution, and to intersect a deeper part of the Owo channel system. Drilled by the Sedco 702 semisub, the well reached a final depth of 12,766 feet (3,891 meters) in a water depth of 4,685 feet (1,428 meters). Tullow Oil operates the license, holding a 49.95% interest; Kosmos Energy holds 18%; Anadarko holds 18%; Sabre Oil & Gas holds 4.05%; and the Ghana National Petroleum Corporation holds 10%.

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