Tullow Makes Oil Discovery Offshore Ivory Coast

Tullow Oil plc announces that the Paon-1X exploration well in the CI-103 licence offshore Côte d’Ivoire has intersected good quality light oil in a Turonian fan system.

Paon-1X is the first deepwater exploration well drilled in the CI-103 licence and has encountered 31 metres of net oil pay in a gross interval of 74 metres of turbidite sands. Pressure data indicates that this interval contains a continuous hydrocarbon column and samples show that it is a light oil of 41 degrees API. Further analysis is required to determine reservoir quality and the extent of the fan system.

Following completion of logging operations, the well will be suspended for possible future use in appraisal and development operations.

The Eirik Raude dynamically positioned semi-submersible rig drilled the Paon-1X well to a final depth of 5,090 metres in water depths of 2,193 metres.

Tullow (45%) operates the CI-103 licence and is partnered by Anadarko Petroleum (40%) and the Societé Nationale d’Opérations Pétrolières de Côte D’Ivoire (Petroci) (15%).

Commenting today, Angus McCoss, Exploration Director, said:

“The discovery of light oil in our first well in CI-103 extends the proven play for oil westwards from our successes in Ghana and is encouraging for our future exploration efforts elsewhere in this licence. We look forward to further drilling in CI-103 during 2013.”

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Source: Tullow Oil plc, June 7, 2012