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Tullow Oil reveals latest well success in Kenya

Tullow Oil (LON:TLW) unearthed more resources in Kenya with the success of the Ngamia-2 appraisal well.

The well encountered 39 metres of net oil pay and 11 metres of net gas pay, in what are described as “high quality” reservoirs.

Ngamia-2 has been suspended ahead of a testing phase. In the meantime four further appraisal wells are planned and the drill rig will now move on.

Elsewhere, the Agete-1 well has flowed 500 barrels of oil per day and separate drilling is currently ongoing on the Agete-2 appraisal well.

"The success of the Ngamia-2 exploratory appraisal well builds on our major basin opening discovery well, Ngamia-1. The reservoirs were of similar quality and the well will be suspended for testing,” said exploration director Angus McCoss.

“The Agete -1 well test flowed at 500 bopd and the partnership continue to evaluate this discovery.

"With five rigs drilling in Kenya and Ethiopia, there is much to look forward to in the second half of the year."