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Tullow Oil Completes the Banda NW Sidetrack Well in Mauritania

05-08-2008

Tullow Oil suspended the Banda NW sidetrack well, which encountered an 85-metre (279-ft) gross gas column with 15 metres (49 ft) net gas pay, and a 15-metre (49-ft) gross oil column with 10 metres (33 ft) net oil pay.  The oil and gas find in Banda NW appears to be in communication with the original Banda-1 discovery well drilled in 2002, about two kilometres (1.2 miles) to the east.

Atwood Oceanics Inc. semisubmersible Atwood Hunter will depart from Banda NW after completing the well.  The rig is expected to move on to the Chinguetti oil and gas field, also offshore Mauritania, where it is scheduled to carry out a programme of well interventions and drill two new production wells.  Atwood Hunter is subcontracted to PC Mauritania for work in the area under an original charter with Woodside Petroleum.

The Banda field is in about 300 metres (984 ft) of water and spans PSC Area A and PSC Area B.  PC Mauritania operates the PSC Area B Joint Venture (JV) with 53.85 per cent interest.  Partners are Tullow Oil with 21.6 percent, Mauritania Holdings B.V. with 11.63 per cent, Premier Oil with 9.23 per cent and Roc Oil with 3.69 percent.

PC Mauritania operates PSC Area A JV with 53.85 percent interest.  Partners are Tullow Oil with 24.3 percent, Mauritania Holdings with 13.1 percent, Premier Oil with 4.6 percent and Roc Oil with 4.2 percent.