Tullow Oil PLC Marina-1 Well Update (1338D)
17 Febbraio 2020 - 8:00AM
UK Regulatory
TIDMTLW TIDMTTM TIDMTTM
RNS Number : 1338D
Tullow Oil PLC
17 February 2020
News Release
Marina-1 well result
17 February 2020 - Tullow Oil plc (Tullow) announces that the
Marina-1 exploration well, drilled on Z-38 licence offshore Peru,
has reached Total Depth and has not encountered significant
hydrocarbons. The well tested the La Cruz and Mal Pelo formations
where minor gas shows were encountered however there were no
indications of hydrocarbons in the primary targets in the Tumbes
formation.
The Stena Forth drillship drilled the Marina-1 well to a Total
Depth of 3,022 metres in 362 metres of water and the well will now
be plugged and abandoned.
Karoon Energy is the operator of the Marina-1 well through its
wholly owned subsidiary, KEI (Peru Z--38) Sucursal del Peru and has
a 40% operating equity interest. Tullow Oil holds a 35% interest
with Pitkin Petroleum holding the remaining 25%.
Mark MacFarlane, Chief Operating Officer, commented today:
"This is the first ever well in the deep-water section of the
under-explored Tumbes basin. We will now integrate the important
well information with the seismic data that we are currently
reprocessing and update our prospect inventory for blocks Z-38 and
Z-64. Tullow is building an extensive exploration position in Peru
and, while this result is not what we had hoped for, we remain
positive about Peru's wider offshore exploration potential."
FOR FURTHER INFORMATION CONTACT:
Tullow Oil plc Murray Consultants
(London) (Dublin)
(+44 20 3249 9000) (+353 1 498 0300)
IR: Chris Perry, Nicola Rogers, Pat Walsh
Matt Evans Joe Heron
Media: George Cazenove
This announcement includes inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 and is being
released on behalf of Tullow by Adam Holland, Company
Secretary.
Notes to Editors
Tullow Oil plc
Tullow is a leading independent oil & gas, exploration and
production group, quoted on the London, Irish and Ghanaian stock
exchanges (symbol: TLW). The Group has interests in 80 exploration
and production licences across 15 countries which are managed as
three business delivery teams: West Africa, East Africa and New
Ventures.
Follow Tullow on:
Twitter: www.twitter.com/TullowOilplc YouTube: www.youtube.com/TullowOilplc
Facebook: www.facebook.com/TullowOilplc LinkedIn: www.linkedin.com/company/Tullow-Oil
Website: www.tullowoil.com
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END
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