Tullow Oil announces dry appraisal well offshore French Guiana

12/4/2012

Tullow Oil announces dry appraisal well offshore French Guiana

LONDON -- Tullow Oil has announced that the Zaedyus-2 appraisal well GM-ES-2, offshore French Guiana, encountered a total of 85 m of reservoir quality sands with oil shows in several objectives but did not encounter commercial hydrocarbons at this location.

The well was drilled 5 km up dip from the Zaedyus-1 well. Results of drilling, logging and sampling to date have shown that the reservoirs at this location are not in communication with Zaedyus -1. Integration of information obtained from the two wells with the 3D seismic data suggests the reservoirs are geologically separated from Zaedyus-1.

As Zaedyus-2 is up dip and disconnected from Zaedyus-1, this result has no bearing on the bulk of the undrilled prospectivity, which is located downdip of Zaedyus-1. Future drilling on the Zaedyus fan system will target the significant upside in the Zaedyus down dip prospects.

The Zaedyus-2 well was drilled in the Guyane Maritime license using the Stena DrillMax dynamically positioned drillship. The well was drilled in water depths of 1,894 m to a depth of 6,200 m and logging operations are ongoing. The second well in this four well program is Priodontes-1, targeting an adjacent prospect within the same Cingulata fan system, and is expected to commence drilling in early December.

Tullow has a 27.5% stake in the Guyane Maritime license and is partnered by Shell, who are operator and hold a 45% stake, Total 25% and Northpet 2.5%, a company owned 50% by Northern Petroleum and 50% by Wessex Exploration.

Dow Jones Newswires

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