Tullow drills dry hole at Block 9 in Bangladesh

Vol 7, PW 24 (25 Feb 04) News in Brief

Irish explorer Tullow Oil has plugged and abandoned Rasulpur-1 well, the first of its three-well programme in Bangladeshs highly prospective Block 9.

Tullows drilling update on 17th February said the Rasulpur-1 well had encountered some potentially encouraging reservoir intervals but an analysis of the well logs indicated that no significant quantities of moveable hydrocarbons were present. The well is now plugged and abandoned.

Drilling of Rasulpur-1 began on 11th December 2003 and reached total depth of 3,925m on 11th February this year. The drilling rig will move to Lalmai where drilling is expected to begin in late February.

After Lalmai, Tullow will drill the third well at the Bangora Prospect. Tullow, which owns 30% of Block 9, is disputing the sale of Chevrons 60% stake to Niko Resources of Canada.

Petroleum Exploration Company of Bangladesh holds the remaining 10% in Block 9.