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Although at an early stage of evaluation, this discovery is potentially the largest in the Butiaba Area to date.
The well was drilled some 500 metres from the crest of the structure to a total depth of 637 metres and has been successfully logged. Downhole pressure testing and sampling have confirmed the presence of dry gas and moveable oil that has been recovered to surface. Reservoir quality in all pay zones is excellent.
The gas and oil columns encountered are 48 metres and 75 metres respectively with the potential to be even larger. Further exploration and appraisal may uncover significant upside in the undrilled areas of what could be a very substantial trap.
Buffalo-1 is the fifth successful test of the Victoria Nile delta play fairway within the Lake Albert Rift Basin and was drilled 16 km north-east of the Warthog-1 and Kasamene-1 discoveries. This latest result extends the play further north and de-risks several adjacent prospects, located in Blocks 1 and 2, which are scheduled for drilling in 2009.
The well has now been suspended as a future producer and the rig is being moved five km south to the location of the Giraffe prospect where drilling will commence in late December. This well will also appraise some of the upside potential of the Buffalo discovery.
Tullow has interests in three licences in the Lake Albert Rift Basin in Uganda. Tullow operates Block 2 with a 100% interest and has a 50% interest in Blocks 1 and 3A which are operated by Heritage Oil (50%).
Commenting today, Aidan Heavey, Chief Executive, said:
“The discovery of another material oil field at Buffalo in the highly prospective Victoria Nile Delta play has maintained our 100% success record in the Lake Albert Rift Basin. With many prospects still to drill in the Butiaba region and across the basin, we are now certain that the commercial threshold for development should be exceeded and have assigned a dedicated team to deliver a commercial development plan for the overall basin. 2009 promises to be a landmark year for Tullow, Heritage and the Ugandan government as we work together to realise the potential of the region.”