MORE OIL DISCOVERED IN GHANA

Tullow ghana

Ghana National Petroleum Corporation (GNPC) on yesterday, Friday 20th July, 2012, announced that another oil discovery had been made in the Gold coast.

GNPC said in a statement issued in Accra said

"That the Wawa-1 exploration well, located in the DeepwaterTano (DWT) Block offshore Ghana, discovered 20 metres (65 feet) of gas-condensate column and 13 metres (42 feet) of oil."

Samples of oil recovered from the well indicate that it was of ``high quality of API values of between 38 and 44 degrees''.

GNPC said pressure data indicated the Wawa discovery was separate and distinct from the adjacent Tweneboa, Enyenra and Ntomme (TEN) cluster of discoveries.

25It said further evaluation of this well would be conducted after which the well would be suspended for possible future use in appraisal and development operations.

Mr Thomas Manu, Director of Exploration and Production at GNPC, also added:

``the Wawa discovery is a confirmation of the prospectivity of the offshore Western Basin.''

``The discovery has enhanced the value of the TEN (Tweneboa, Enyenra and Ntomme) complex, for which the plan of development is currently being discussed among the partners.''

GNPC has 10 per cent carried interest in the Deepwater Tano Block and has the option to acquire additional paying interest of five per cent upon declaration that the discovery is commercial.

The other Partners in the Block include Tullow Oil plc (49.95 per cent working interest and operator), Kosmos Energy (18 per cent working interest), Anadarko (18 per cent working interest) and Tano Block Sabre Oil & Gas Holdings Ltd (4.05 per cent working interest).

Director Thomas also hinted that further exploration drilling is planned within the block before the end of the year.