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.
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.
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