Business
Ethiopia drilling update
Ethiopia drilling update.
About this update from Tullow Oil Plc
[{"type":"text","content":"\n \nRNS Number : 2110M Tullow Oil PLC 14 July 2014 \n \n\nNews Release\n \nEthiopia drilling update\n14 July 2014 - Tullow Oil plc (\"Tullow\") today announces that the Gardim-1 exploration well, drilled on the eastern flank of the Chew Bahir Basin in the South Omo licence, onshore Ethiopia, has reached a total depth of 2,468 metres in basement, without encountering commercial oil.\nThe well intersected lacustrine and volcanic formations, similar to those found in the Shimela-1 well on the north-western flank of the basin. Minor intervals with thermogenic gas shows were intersected just above basement. The well will be plugged and abandoned and drilling operations will now be demobilised whilst these results are integrated into the regional basin model.\nMeanwhile seismic interpretation continues on independent prospectivity elsewhere in the licence and the next phase of our Ethiopia exploration campaign will target these prospects. \nAngus McCoss, Exploration Director, Tullow Oil plc commented today, \n\"We have now drilled two independent wildcat wells in the Chew Bahir Basin, neither of which encountered commercial oil. Whilst our analysis continues, initial indications suggest that the targeted seismic anomalies related to lavas that flowed into a lake basin. Having gained valuable data, including evidence of thermogenic gas, we look forward to the next phase of our exploration campaign in Ethiopia.\"\n \nFOR FURTHER INFORMATION CONTACT:\n\n\n\n\nTullow Oil plc \n(London)\n(+44 20 3249 9000)\nChris Perry (Investor Relations)\nJames Arnold (Investor Relations)\nGeorge Cazenove (Media Relations)\n\n\nCitigate Dewe Rogerson\n(London) \n(+44 207 638 9571) \nMartin Jackson\nShabnam Bashir\n\n\nMurray Consultants \n(Dublin)\n(+353 1 498 0300) \nPat Walsh\nJoe Heron\n\n\n\n\n \nNotes to Editors \nTullow Oil plc\nTullow is a leading independent oil & gas, exploration and production group, quoted on the London, Irish and Ghanaian stock exchanges (symbol: TLW) and is a constituent of the FTSE 100 Index. The Group has interests in over 140 exploration and production licences across 23 countries which are managed as three regional business units: West & North Africa, South & East Africa and Europe, South America and...