Extracted from the latest TLW update today:Tullow has the...

Extracted from the latest TLW update today:

Tullow has the leading acreage position in the Albertine Basin, holding between
49 and 100% in five licences in Uganda and Congo (DRC). Five successful
exploration wells have been drilled on the Ugandan blocks since the beginning of
2006. Tullow consolidated this position with the acquisition of Hardman assuming
operatorship of Block 2 in Uganda and increasing its interest in the Block to
100%. This enhanced position increases the Group's exposure to significant
upside potential and also enables it to exercise greater operational control.



The most recent exploration well, Kingfisher-1, is currently drilling to a
target depth of between 3,000 and 4,000 metres. To date the well has
intersected two significant oil-bearing intervals. The first interval, with net
pay of 10m, was encountered at 1,783m and was successfully tested in early
November 2006 at a maximum flow rate of 4,120 bopd. The second interval,
evidenced by wireline logging and formation pressure testing, with a net pay of
approximately 40m, was encountered between 2,260m and 2,370m. It is planned to
test this second interval following completion of the drilling operations.



In light of the drilling and testing results and the large upside potential
associated with the Kingfisher, Ngassa and Pelican prospects, an aggressive
exploration and appraisal programme in Uganda and Congo (DRC) is planned. This
programme, which comprises 2D and 3D seismic and further exploration/appraisal
drilling, will run into 2008 and probably beyond. In addition, the Group is
reviewing the potential for an Early Production System and conceptual studies
are ongoing.