Tullow Oil PLC Joe-1 oil discovery (3623M)
16 September 2019 - 4:00PM
UK Regulatory
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RNS Number : 3623M
Tullow Oil PLC
16 September 2019
News Release
THIS PRESS RELEASE CONTAINS INSIDE INFORMATION
Joe-1 oil discovery
16 September 2019 - Tullow Oil plc (Tullow) announces that the
Joe-1 exploration well has successfully opened a new Upper Tertiary
oil play in the Guyana basin.
The Joe-1 exploration well was drilled by the Stena Forth
drillship to a Total Depth of 2,175 metres in water depth of 780
metres. Evaluation of logging and sampling data has confirmed that
Joe-1 has encountered 14 metres of net oil pay in high-quality oil
bearing sandstone reservoirs of Upper Tertiary age. Joe is the
first oil discovery to be made in the Upper Tertiary and de-risks
the petroleum system in the west of the Orinduik block, where a
significant number of Tertiary and Cretaceous age prospects have
been identified.
Tullow and its Partners will now evaluate data from the Joe-1
discovery alongside data from the Jethro-1 discovery announced in
August 2019 and await the outcome of the Carapa well to determine
the optimal follow-on exploration and appraisal programme.
The non-operated Carapa-1 well on the Kanuku licence (Tullow
37.5%) is scheduled to commence drilling in late September with the
Rowan EXL II jack-up rig and will test the Cretaceous oil play with
a result due in the fourth quarter of 2019.
Joe-1 was drilled on the Orinduik licence, offshore Guyana by
Tullow's wholly owned subsidiary Tullow Guyana B.V.
Tullow Guyana B.V. is the operator of the Orinduik block with a
60% stake. Total E&P Guyana B.V. holds 25% with the remaining
15% being held by Eco (Atlantic) Guyana Inc. On completion of
operations, the Stena Forth drill ship will depart Guyana and
return to Ghana.
Angus McCoss, Exploration Director, commented today:
"I am very pleased that we have made back-to-back discoveries in
Guyana and successfully opened a new, shallower play in the Upper
Tertiary age of the Guyana basin with our second well. The Joe-1
discovery and its surrounding prospects represent another area of
significant potential in the Orinduik Block and we are greatly
looking forward to the next phase of the programme as we continue
to unlock the multi-billion barrel potential of this acreage."
FOR FURTHER INFORMATION CONTACT:
Tullow Oil Murray Consultants
plc (Dublin)
(London) (+353 1 498
(+44 20 3249 0300)
9000) Pat Walsh
Julia Ross Joe Heron
Nicola Rogers
George Cazenove
Notes to Editors
Tullow Oil plc
Tullow is a leading independent oil & gas, exploration and
production group, quoted on the London, Irish and Ghanaian stock
exchanges (symbol: TLW). The Group has interests in 80 exploration
and production licences across 15 countries which are managed as
three business delivery teams: West Africa, East Africa and New
Ventures.
Follow Tullow on:
Twitter: www.twitter.com/TullowOilplc YouTube: www.youtube.com/TullowOilplc
Facebook: www.facebook.com/TullowOilplc LinkedIn: www.linkedin.com/company/Tullow-Oil
Website: www.tullowoil.com
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END
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