Petrosaudi Saturn (PetroSaudi Oil Services Ltd.) (Drillship)

Mahogany-2 appraisal well flows at 5,200 bopd on test

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10 June 2008

Tullow Oil plc (Tullow) announces that the Mahogany-2 well, which is being drilled to appraise the Jubilee field offshore Ghana, flowed at a test rate of 5,200 barrels per day of 36-degree API gravity crude oil and approximately 5.3 million cubic feet per day of associated natural gas. The Mahogany-2 well, which lies in the West Cape Three Points licence, has been drilled to a total depth of 3,443 metres by the Songa Saturn drillship in water depths of 1,080 metres. A single zone covering an interval of 17 metres was tested through a 40/64-inch choke resulting in a flowing tubing head pressure of 1,540 pounds per square inch. This flow rate was however severely limited by the available test equipment and facilities. These favourable results confirm that the Turonian turbidite reservoirs of the Jubilee Field are highly productive and validates the geological and reservoir model. Oil samples will now be acquired to conduct comprehensive refinery assays before the well is suspended as a potential development well and the rig released. Development planning for the Jubilee field is ongoing and Tullow has secured the Blackford Dolphin and the Eirik Raude deepwater rigs for an extended programme of appraisal, development and exploration drilling in both the West Cape Three Points and the Deepwater Tano licences. This programme is scheduled to commence later this year.

Source: http://www.tullowoil.com/index.asp?pageid=137&category=&year=Latest&month=&tags=69&newsid=599


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