I tried to post this here earlier but somehow it ended up on...

I tried to post this here earlier but somehow it ended up on general thread.

I took up the tullow share and am glad i did.

From Tullow today

Oil discovery in the Nsoga-1 exploration well in Uganda
06/05/2009

6 May 2009 - Tullow Oil plc (Tullow) announces that the Nsoga-1 exploration well, which is located in the Butiaba region of Uganda Block 2, has encountered good quality Kasamene-type oil bearing reservoirs in a down-dip location at the oil water contact.

The well was drilled approximately six kilometres horizontally from the top of the structure, to a total depth of 755 metres and has been successfully cored, logged and sampled. The total net Kasamene-type reservoir is 43 metres thick, of which the top three metres is oil bearing at this location. At the crest of the trap, which is 160 metres vertically up-dip, the entire reservoir should be oil filled.

In a separate low net-to-gross section, immediately above this Kasamene-type reservoir, 12 metres of thin-bedded oil bearing sands were also encountered and are likely to have deeper oil water contacts based on seismic amplitudes and pressures.

Nsoga-1 is the seventh successful test of the Victoria Nile Delta play fairway within the Lake Albert Rift Basin. This latest result further extends the play and de-risks several adjacent prospects located in Blocks 1 and 2, which are scheduled for drilling later in the year.

The well is now being suspended as a future oil producer and on completion of operations the rig will move to test the Awaka prospect with drilling operations scheduled to commence this month.

Tullow has interests in three licences in the Lake Albert Rift Basin in Uganda. Tullow operates Block 2 with a 100% interest and has a 50% interest in Blocks 1 and 3A which are operated by Heritage Oil (50%).

Commenting today, Angus McCoss, Exploration Director, said:
“We drilled the Nsoga-1 exploration well on the flank of the structure to capture the upside immediately. By encountering the oil water contact in good quality Kasamene-type reservoirs, we have made another substantial discovery in the important Victoria Nile Delta play. Importantly, this successful drilling de-risks other nearby prospects which are scheduled for drilling later this year. This was a bold step, taken with the confidence gained through our 100% success rate in Uganda and our proven exploration methods.”



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