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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Tullow Oil plc    TLW   GB0001500809

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Tullow Oil's Enyenra-4A In Ghana Finds Oil in Good Quality Reservoirs

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03/16/2012 | 08:24am CET

Tullow Oil PLC (>> Tullow Oil plc), the oil explorer, said Friday that the Enyenra-4A appraisal well, in the Deepwater Tano license offshore Ghana, has successfully encountered oil in very good quality sandstone reservoirs.

MAIN FACTS:

-Good evidence of communication with the Owo-1 discovery wells and the Enyenra appraisal wells confirms the significant extent of the Enyenra light oil field.

- Results of drilling, wireline logs, samples of reservoir fluids and pressure data show that Enyenra-4A has intersected 32 meters of net oil pay.

-Pressure data from the oil leg has demonstrated that the oil is in static communication with the oil seen in the other wells in the field and indicates a continuous oil column of approximately 600 meters.

-On completion of operations, the well will be suspended for later use.

-The drillship will return at a later date to the Deepwater Tano block to perform a drill stem test on the oil zone in the Ntomme-2A well.

-Shares closed Thursday at 1,471 pence valuing the company at GBP13.31 billion.

-By Rory Gallivan, Dow Jones Newswires; 44-20-7842-9411; rory.gallivan@dowjones.com

Stocks mentioned in the article : Tullow Oil plc
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