In Tanzania: Tullow Oil buoyed by hydrocarbon shows
Tullow sees light in Tanzania wildcat
UK listed Tullow Oil said its Likonde-1 probe drilled onshore Tanzania has encountered thick sands with hydrocarbon shows.
Wireline logs and side-wall coring show two sandstone intervals of over 250 metres combined thickness with evidence of residual oil and gas intercepted in the well, Tullow said.
However, drilling has to be terminated due to high gas influx and the well is being plugged and abandoned. Tullow intends to follow up with a second well in the same region.
Likonde-1 is located in the Lindi Block in the Ruvuma Basin of southern Tanzania.
Tullow operates the Lindi and Mtwara blocks with a 50% stake. UK listed Aminex holds the other 50%, which will reduce to 37.5% once Solo Oil exercises the option to a 12.5% farm-in interest.
in partnership with Aminex. Solo Oil is earning an interest through farming into 12.5% of Aminex’s 50% interest in the well and has an option to elect to become a full joint venture partner.
