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Tullow Announced Noix De Coco-1 Well Result

Source: www.gulfoilandgas.com 5/19/2010, Location: Africa

Tullow Oil plc announces that the Noix de Coco-1 well in Gabon has encountered wet gas but in poor quality reservoir sandstones.

Noix de Coco-1, located in the Azobe Permit offshore Gabon some 45 km northeast of Port Gentil, has encountered wet gas within the Cretaceous interval. Sandstones within the main objective were however of poor quality at this location and the well will be plugged and abandoned.

The well, drilled to a total depth of 2,640 metres, was the final commitment well in the current exploration period in the Azobe Permit. The results will be followed up with detailed technical work prior to deciding on the forward work programme for the licence. Tullow operates and has 60% interest in the Azobe Permit partnering with MPDC Gabon (40%).

Commenting today, Angus McCoss, Exploration Director, said:
"Although Noix de Coco-1 notably encountered wet gas, the poor reservoir at this location rules out commercial development. The results of this well will be worked into the regional framework and forward plans will be made to further high-grade this otherwise prospective Northern Gabonese Basin."

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