Tullow Oil Share Discussion Threads

[bogotatrader] 07/5/2012 20:29

Any guesses for how much Kenyan Block 10BB 100m payzone will add to Tullow price tomorrow?

[eipgam] 07/5/2012 20:24

Cheers BogTra... so it's unlikely to be drilling news... they say no results until after drilling is completed circa mid Aug 2012

So could be corprate activity of some kind... not going to guess, could be anything.

[bogotatrader] 07/5/2012 20:11

Georgetown (25%) owned by CGX and Tullow have 30%
The Georgetown license comprises 1.7 million acres. The partners to the Georgetown license include Repsol Exploración S.A. (15% and operator), YPF Guyana Limited (30%), Tullow Guyana BV (30%) and CGX Resources (25%). The Licence is subject to a Confidentiality Agreement with Repsol, but the term, work program and fiscal regime is similar to our Corentyne Licence.
After undertaking a 1,839 sq km 3D seismic program in late 2008 / early 2009, the Jaguar-1 well location was chosen. Repsol has contracted the Atwood Beacon jack-up drill rig to drill the Jaguar-1 well which is planned to a total depth of 6,500 metres to test the Turonian geologic zone. The Jaguar-1 well commenced drilling on February 9, 2012. Drilling is anticipated to take 180 days and the partners will announce results when drilling has been completed.

[eipgam] 07/5/2012 19:55

CGX holders (yoo-hoo Gary!)... did you see this? I wonder if we have news coming from South America as well?

IIROC Trading Halt - OYL

[bogotatrader] 07/5/2012 19:13

#16 plus opening would be nice and edging up towards 18 pound level as we get further oil hits from 10BB would be great......

[sanks] 07/5/2012 18:11

keya..i just released me financial tension..can't you tell by the time i posted on bb!

I'm now ready for tomorrow...can't see why yjese should not touch £18 tomorrow.
Let mek now if my ramps are helping

Sanks


keya5000
7 May'12 - 07:39 - 17172 of 17180

sanks I thought you would have other activities at 01:24 to concentrate on, Shelia got the painters in???

[eipgam] 07/5/2012 16:04

And a new licence.... offshore Uruguay

[bogotatrader] 07/5/2012 15:05

Will be a nice rise on Tullow tomorrow....100m payzone and still not at target depth......

[eipgam] 07/5/2012 14:26

Someone needs to say thanksalot for us warning him about this... Kinda hope he is still in though, don't owe him any favours really.

Small minded of me, I know... but hey!

[eipgam] 07/5/2012 14:07

more to come???



Tullow Oil PLC said its Ngamia-1 exploratory well onshore Kenya has encountered a total of more than 100 m of oil pay over a gross oil-bearing interval of 650 m in multiple zones.

Samples of oil of greater than 30° gravity have been recovered to surface from the most recently drilled section that have properties similar to the light, waxy crude encountered in the upper reservoir zone, the company said.

Ngamia-1, on Block 10BB, has been drilled to 1,515 m and is to continue to 2,700 m. Plans are being put in place to drill stem test the well although the exact timing is yet to be decided. Tullow operates Block 10BB with 50% interest. Africa Oil PLC has the other 50%.

Ngamia is the first prospect to be tested as part of a multiwell campaign in Kenya and Ethiopia. Many leads and prospects similar to Ngamia have been identified, Tullow said. Tullow has proposed to the Kenya government an increase in 2D seismic acquisition and the sourcing of a second rig.

The Weatherford 804 rig will next move 31 km to Tullow-operated Block 13T, where the Twiga-1 wildcat, formerly Mbango-A, is to spud in the second half of 2012. The second rig will drill the Tullow-operated Paipai prospect on Block 10A in Marsabit County.

Tullow has a 50% operated interest in seven onshore licenses in the Kenya and Ethiopia rift basins covering a combined area of more than 100,000 sq km. The basin where the Ngamia discovery has been made is one of seven basins mapped in Tullow's acreage and is similar in size to the Lake Albert Rift Basin in Uganda.

[eipgam] 07/5/2012 13:04

make that AOI up 64%... which i am guessing is around £600m

edit: settling down to 40% up now

[eipgam] 07/5/2012 13:03

great news today but market closed. AOI (50/50 partner up over 40% in Sweden on the news)

You are receiving this email because you have registered for the Tullow Oil plc press release alert service.

07 May 2012

Ngamia-1 well in Kenya Rift Basin discovers further oil

Tullow Oil plc (Tullow) announces that the Ngamia-1 exploration well onshore Kenya in Block 10BB has now been drilled to an intermediate depth of 1,515 metres and the total net oil pay encountered so far has increased to in excess of 100 metres across multiple reservoir zones.


Following the initial announcement on 26 March 2012, that Ngamia-1 had encountered in excess of 20 metres of net oil pay, the well has now been deepened from 1,041 metres to 1,515 metres. A sidetrack was required in this section and following completion of logging and sampling in difficult hole conditions, a total pay count greater than 100 metres has now been discovered over a gross oil bearing interval of 650 metres. Oil samples with an API greater than 30 degrees have been recovered to surface from the newly drilled section with similar properties to the light waxy crude encountered in the upper reservoir zone.


The Ngamia structure is the first prospect to be tested as part of a multi-well drilling campaign in Kenya and Ethiopia. Many leads and prospects similar to Ngamia have been identified and following this discovery the outlook for further success has significantly improved. Tullow has proposed to the Government an increase in 2D seismic acquisition and the sourcing of an additional rig to increase drilling activities.


The Ngamia-1 well will continue to be drilled to a total depth of approximately 2,700 metres to explore for deeper potential. Plans are being put in place to drill stem test the well although the exact timing of this testing is yet to be decided. The Weatherford 804 rig will then move 31 kilometres to the Tullow Operated Block 13T, where the Twiga-1 (formerly known as Mbango-A) wildcat well will spud in the second half of 2012. A further rig is being sourced to drill the Tullow Operated Block 10A Paipai prospect in Marsabit County.


Tullow has a 50% operated interest in seven onshore licences in the Kenya & Ethiopia Rift Basins covering in excess of 100,000 square kilometres. The basin where the Ngamia discovery has been made is one of seven basins mapped in Tullow's acreage and is similar in size to the Lake Albert Rift Basin in Uganda.


Tullow (50%) operates Block 10BB and is partnered by Africa Oil (50%).


Commenting today, Angus McCoss, Exploration Director, said:

"This ongoing wildcat is an excellent start to our exploration campaign. The net pay encountered so far in Ngamia-1 is more than double that encountered in any of our East African exploration wells to date. We now look forward to the drilling and evaluation of the deeper potential of this well and the acceleration of our seismic and drilling campaigns in the region."

[highcommissioner] 07/5/2012 13:02

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 7, 2012) - Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) ("Africa Oil" or the "Company") is pleased to provide the following update in respect of the previously announced oil discovery at the Ngamia-1 well on Block 10BB, Kenya. Africa Oil holds a 50% working interest in this block, which is operated by Tullow Oil plc ("Tullow") which holds the remaining 50% interest.

The Ngamia-1 exploration well in Kenya has now been deepened to a total depth of 1515 meters and has encountered in excess of 100 meters of net oil pay in multiple reservoir zones over a gross interval of 650 meters. Following the initial announcement on the 26th March 2012 that Ngamia-1 had encountered in excess of 20 meters of net oil pay, the well has now been deepened from 1041 meters to 1515 meters. A further four good quality, oil-bearing reservoir zones have been encountered. Due to deteriorating hole conditions, a sidetrack of the well was required to deepen the well. Moveable oil with an API greater than 30 degrees has been recovered to surface from six of these intervals. This oil has similar properties to the light waxy crude encountered in the upper reservoir zone.

The Ngamia-1 well will now be drilled to a depth of approximately 2,700 meters to explore for deeper potential including the Lokhone sandstone which was one of the primary objectives of this well. Plans are in place for at least two drill stem tests upon completion of drilling operations. The Weatherford 804 rig will then move to Block 13T where the Twiga-1 (formerly Mbango South) wildcat well will spud in the second half of 2012. A further rig is being sourced to drill the Block 10A Paipai prospect in the Cretaceous Anza Graben system.

Africa Oil President and CEO, Keith Hill, stated, "The total pay sand thickness in this well has far exceeded pre-drilling estimates and certainly has highly positive implications for numerous similar prospects on trend. Based on these results, we are working with our partner Tullow to source additional rigs and acquire additional seismic to accelerate the exploration campaign in this basin. Our goal in the near term will be to assess the size and extent of the potential of this newly discovered basin."

[keya5000] 07/5/2012 07:39

sanks I thought you would have other activities at 01:24 to concentrate on, Shelia got the painters in???

[sanks] 07/5/2012 01:24

Yeah, i agree. Keep ramping, sanksalot.
These could easily hit £18 pdq

Let me know if i'm helping with the ramp
Sanks

[bogotatrader] 06/5/2012 17:18

84k , 61k , 61k and 100k buys after market close at prices around 15 pound mark and as high as 15.2 for the 100k buy.........

[bogotatrader] 06/5/2012 16:36

Well 10BB is a big gusher and if with 1 billion then tullow will be up well over #15 and probably around #17 plus if rns next week.....two to three pound upside on the share price if a big kenyan gusher would be very very nice.....

[sanks] 05/5/2012 00:28

That's ok Volvo, i just hope it does a loola bounce on Tuesday...ready for me to enter it again.

captain wtf..lol

[eipgam] 04/5/2012 20:15

volvo... are you talking about the 415k UT trade?

[mpclag] 04/5/2012 19:38

Dow still tanking/oil price tanking
Long term prospects great for tullow but short term market not so good.
epigam-I'm posting more as I hold no position and never disclose my position before I jump.

[volvo] 04/5/2012 19:21

Sanks fair enough for me, up or down.........just thought I'd let you know, g/luck.

[captainiceman] 04/5/2012 19:18

Buy the rumour-Doggie the fact !!!