Over the next 12 months Tullow expects to participate in up to 15 exploration wells, of which 3 will be operated by Tullow. Six of these wells are "snuggle exploration prospects" which will target reserves close to existing infrastructure, whilst the wells in Mauritania, Uganda, Equatorial Guinea and Romania, have the potential to add very significant reserves. Major 3-D seismic acquisition programmes are also planned in Bangladesh, Cameroon and Cote d'Ivoire with 2-D programs in Pakistan and India.
In November it is planned to spud a well to test the Faucon prospect in Mauritania Block 1. Tullow's share of potential reserves from this high risk prospect are material and success in proving a working petroleum system would have very positive implications for further exploration, not only for Block 1 but also for Block 2 and the St Louis Block in Senegal.
In Uganda, following the disappointing discovery of high CO2 gas in the Turaco-3 well in Block 3, geochemical studies have indicated that the CO2 risk is limited to the southern portion of the Albertine Graben. Additional seismic surveys in Blocks 2 and 3A have defined structures with potential for large oil reserves and a two well drilling programme on the shores of Lake Albert in Block 2 is planned later in 2005. As in Mauritania, any demonstration of a working petroleum system would have very positive implications for further exploration.
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