Tullow Oil Strikes Oil in Northern Kenya Well
17 May 2017 - 7:14PM
Dow Jones News
By Philip Waller
LONDON--Tullow Oil PLC (TLW.LN) on Wednesday said it had struck
oil in a well in northern Kenya.
The oil and gas explorer and producer said it had found about 75
meters of net oil pay in two zones in the Emekuya-1 well in block
13T in the South Lokichar Basin.
Tullow said the well penetrated reservoir-quality Miocene
sandstones similar to those in the successful Etom-2 well and at
the same static pressure gradient, indicating that a big part of
the Greater Etom structure is oil-filled.
The company will now move the drilling rig to drill an appraisal
well on Greater Etom.
Tullow operates blocks 13T and 10BB with 50% equity and is
partnered by Africa Oil Corporation and Maersk Oil with 25%
apiece.
Shares were up 5.5 pence, or 2.7%, at 206.7 pence.
-Write to Philip Waller at philip.waller@wsj.com
(END) Dow Jones Newswires
May 17, 2017 04:59 ET (08:59 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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