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Tullow Oil Plc. (ticker: TLW) announced that a series of appraisal wells have made discoveries in Kenya. The three exploration wells, the Ngamia-5, Ngamia-6 and Amosing-3 appraisal wells all encountered oil, according to the company’s exploration and appraisal update.

Ngamia-5 was drilled to a final depth of 2,317 meters (7,602 feet) where it encountered between 160 and 200 meters (535 and 656 feet) of net oil pay.

Tullow

Map of the South Lokichar Basin, where TLW’s Epir-1 and Ngamia assets are located Source: Tullow Oil

Ngamia-6 was drilled to a final depth of 2,480 meters (8,136 feet) where it encountered up to 135 meters (443 feet) of net oil pay. Both wells were drilled from the Ngamia-1 discovery well pad. Nagamia-5 was drilled approximately 500 meters (approximately one third of a mile) northeast of Ngamia-1, while Ngamia-6 was drilled approximately 800 meters (approximately half a mile) north of Ngamia-1.

The Amosing-3 well was drilled approximately 1 km northwest of the Amosing-1 well and encountered over 107 meters (351 feet) of net oil pay at a final depth of 2,403 meters (7,884 feet). The well has been suspended for use in future appraisal and development activities.

In the same exploration update, TLW also provided an update on its Epir-1 and Engomo-1 wells. Epir-1 encountered oil and wet gas over a 100 meter interval of non-reservoir quality rocks, demonstrating a working petroleum system, according to the company. The company has commenced drilling the Engomo-1 well in an area where numerous naturally occurring oil slicks and seeps have been observed. The company expects a result during early March 2015.

Tullow has discovered 2.3 MMBO in Kenya, with an additional 4.6 MMBO in potential reserves, according to a company presentation. TLW has a memorandum of understanding (MOU) with the Government of Uganda which provides an agreement on an export pipeline and local refining with an initial capacity of 30 MBOPD.

Tullow

Source: Tullow Oil

 

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Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company’s entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil & Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom’s Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil & Gas 360®. As a result, readers of EnerCom’s reports or Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.