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Tullow Oil announces Montserrado-1 makes a non-commercial oil discovery

Wednesday, Nov 09, 2011

Tullow Oil plc (Tullow) announces that the Montserrado-1 exploration well, offshore Liberia, has made a non-commercial oil discovery in Late Cretaceous reservoir sands. This result is an important exploration breakthrough, establishing a working hydrocarbon system in the Liberian basin.

The well was drilled in block LB-15 to a total depth of 5,400 metres and encountered good-quality, water-bearing sands in the main objective. In a deeper secondary objective, approximately 8 metres of hydrocarbon pay was intersected and a sample of light oil was recovered.

The well is being plugged and abandoned and the drillship is being mobilised to Sierra Leone to drill the Mercury-2 appraisal well and the Jupiter exploration well on block SL-07B-11.

Tullow has a 25.00% working interest in the licence and is partnered by the operator, Anadarko Petroleum (47.5%) and Repsol (27.5%).

Commenting today, Angus McCoss, Exploration Director, said:
"Whilst this wildcat well made a sub-commercial discovery at this location, we have gained critical insights which we will now integrate with our extensive 3D seismic data for follow-up drilling in our highly prospective Liberian acreage. We now look forward to the drilling of the high-impact Jupiter and Mercury-2 wells in Sierra Leone."

Source: Tullow Oil

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