News Release:
18 November 2011 – Kosmos Energy, the Operator of the Teak-3A appraisal well offshore Ghana, in which Tullow Oil plc (Tullow) is a 26.396% partner, last night issued the following press release:
DALLAS, Texas, November 17, 2011 – Kosmos Energy (NYSE: KOS) announced today that the Teak-3A appraisal well has confirmed a northern extension of the Teak discovery on the West Cape Three Points Block offshore Ghana. The Teak-3A well is located approximately 4 kilometers (2.5 miles) north of Teak-1 and was designed to test the potential structural and stratigraphic extension of reservoirs encountered in the original discovery well.
Analysis of well results, including wireline logs, reservoir pressures and fluid samples indicate that the Teak-3A well encountered approximately 35 meters (115 feet) of hydrocarbons in multiple good-quality reservoirs. The analysis identified 13 meters (43 feet) of 36–39 degree API gravity and 22 meters (72 feet) of gas-condensate pay. The hydrocarbon-bearing reservoirs encountered were Campanian and Turonian in age and similar to those seen in the discovery well.
Brian F. Maxted, President and Chief Executive Officer, said “The extension of the Teak discovery is a significant milestone in progressing the appraisal and delineation of this field. We have confirmed the presence of a number of hydrocarbon pools in Teak-3A and significantly extended the productive area of the discovery. While more operational work and technical studies will be necessary to fully define the field, we are very encouraged by the result, which gives further momentum for additional development of the resources discovered on our operated block. Our appraisal and delineation programs continue to generate substantial value for Kosmos, and we look forward to a number of additional near-term appraisal and exploration well results.”
The “Transocean Marianas” semisubmersible drilled the Teak-3A well to a total depth of 3,222 meters (10,571 feet) in 444 meters (1,457 feet) of water. Following the completion of operations at Teak-3A, the rig will be released to another operator. Kosmos anticipates drilling the Teak-4A appraisal well in the second quarter of 2012. Additional appraisal at Teak is being planned for the second half of 2012.
West Cape Three Points Block Ownership Interest
Kosmos Energy is the operator of the West Cape Three Points Block with a 30.875% interest. Anadarko Petroleum Corporation has a 30.875% interest, Tullow Oil plc has a 26.396% interest, Sabre Oil & Gas Holdings Limited has a 1.854% interest; and the Ghana National Petroleum Corporation has a 10% carried interest.
FOR FURTHER INFORMATION CONTACT:
Tullow Oil plc
(+44 20 3249 9000)
Chris Perry – Investor Relations
James Arnold – Investor Relations
George Cazenove – Media Relations
Citigate Dewe Rogerson
(+44 207 638 9571)
Martin Jackson
Kate Lehane
Murray Consultants
(+353 1 498 0300)
Joe Murray
Ed Micheau
Notes to Editors
Tullow is a leading independent oil & gas, exploration and production group, quoted on the London and Irish Stock Exchanges (symbol: TLW) and is a constituent of the FTSE 100 Index. The Group has interests in over 90 exploration and production licences across 22 countries and focuses on four core areas: Africa, Europe, South Asia and South America.
In Africa, Tullow has production in Ghana, Gabon, Côte d’Ivoire, Mauritania, Congo (Brazzaville) and Equatorial Guinea with two large appraisal and development programmes in Ghana and Uganda. Tullow also has exploration interests in Gabon, Côte d’Ivoire, Liberia, Sierra Leone, Mauritania, Senegal, Tanzania, Madagascar, Namibia, Kenya and Ethiopia.
Tullow’s European interests are focused on gas in the UK Southern North Sea where it has significant interests in the Caister-Murdoch System and the Thames area and in the Netherlands where it has offshore gas production, development and exploration opportunities.
In South Asia, Tullow has exploration and production in Bangladesh and exploration interests in Pakistan. In South America, Tullow has exploration interests in Guyana, French Guiana and Suriname.