Tullow takes stock following Gabon setback

Offshore staff

LONDON -- Tullow Oil has found non-commercial gas while drilling the Noix de Coco prospect offshore Gabon.
Noix de Coco-1, drilled in the Azobe permit 45 km (28 mi) northeast of Port Gentil, encountered wet gas within the Cretaceous interval. However, sandstones in the main objective were of poor quality at this location, so the well will be P&A'd.

The well, drilled to a TD of 2,640 m (8,661 ft), was the final commitment well of the current exploration period. Tullow and partner MPDC Gabon plan to further detailed technical studies before deciding on a forward work program for the license.

Tullow Oil Exploration Director Angus McCoss said despite the result, Tullow still views the Northern Gabonese basin as prospective.

05/19/2010