Kudu gas moving forward

Tullow Oil plans to resume drilling next month on the potentially giant Kudu gas field offshore Namibia.

Offshore staff

WINDHOEK, Namibia --Tullow Oil plans to resume drilling next month on the potentially giant Kudu gas field offshore Namibia.

Exploration and analysis to date suggest reserves of at least 3 tcf, with potential for up to 9 tcf. The parts of the reservoir drilled to date have achieved good flows, but Tullow wants to test other sections in a different geological setting.

Depending on the outcome of the two-well appraisal program, development could be expanded from the present option of fueling a gas to power project on the border with South Africa, to an export project, possibly involving LNG. To this end, the company is negotiating to bring in a potential partner, and expects to conclude arrangements prior to drilling the first well.

3/22/2007

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