November 12, 2008

Tullow confirms recent farm-in as seismic acquisition begins

GEORGETOWN, GUYANA - Tullow has recently reached agreement with the YPF Group to farm-in to the Georgetown block offshore Guyana and acquire a 30% interest, complementing the Group's existing acreage in Suriname and French Guyana. A 3D seismic survey, which commenced in October, is currently being run in the Georgetown block.
 
New prospects analogous to the Jubilee field have been mapped close to the giant Matamata prospect in the Guyane Maritime licence offshore French Guyana, it said. Tullow has a 97.5% interest in this licence and is planning a new round of farm-out discussions with a view to drilling in 2010.

Source: Tullow