Tullow Oil plc is one of the largest independent oil and gas, exploration and production companies in Europe. Tullow Oil produces over 56,000 boepd, with a primary focus on UK Gas and West African Oil, underpinned by development projects in the UK, Africa and South Asia.

            Red = 25 day moving average.           Green = 200 day moving average.

Have another one..........

News release


Tullow Oil plc - Nzizi-1 Exploration Well Update


13 November 2006 -Hardman Resources, the operator of the Nzizi-1 exploration
well in Uganda, in which Tullow Oil plc (Tullow) is a 50% partner, today issued
the following press release.


UGANDA: Exploration Area 2 Nzizi-1 Exploration/Appraisal Well


Since Hardman's last report, Nzizi-1 has been drilled to a total depth of 1,065
metres in a 6 3/4' hole. As at midnight on 13 November, wireline logs were
being run after having encountered oil shows across the target intervals.


Nzizi-1 is testing a structure up-dip of the Mputa discovery and was designed to
evaluate the equivalent oil bearing reservoirs intersected in the Mputa
structure. Nzizi-1 is situated approximately 5.5 kilometres to the southwest of
Mputa-2 appraisal well.

Just harping back to this RNS issued last week.

07/11/2006

7 November 2006 Hardman Resources, today issued the following drilling update on the Nzizi Exploration/Appraisal well in Uganda in which Tullow is a 50% partner.

Hardman Resources Limited (Hardman) provides the following update on its drilling activities:

UGANDA: Exploration Area 2 Nzizi-1 Exploration/Appraisal Well

At 2:00pm on 3 November 2006, the Nzizi-1 well was spudded in Exploration Area 2, Uganda, using the Eagle Drill-1 rig.

The well has been drilled to a depth of 358 metres in the 9 7/8 inch section and casing has been run. As at midnight 5 November, the operation was preparing to set the blow out preventer (BOP), following which the well will be drilled ahead to total depth of 1,030 metres.

Nzizi-1 will test a structure up-dip of the recent Mputa discovery. The well is designed to evaluate the equivalent oil bearing reservoirs intersected in the Mputa structure. Nzizi-1 is situated approximately 5.5 kilometres to the southwest of Mputa-2 appraisal well.


Any thoughts anyone?

i think TLW is a damn good share with plenty of upside regardless of what this latest rns may or may not imply

Good morning cynic.

I agree.

http://www.hdr.com.au/documents/news/00514_ASX%2016%20Nov%20-%20Nzizi%20Drilling%20Update%20and%20Chinguetti%20Reserves.pdf

"Exploration Area 2: Nzizi-1
Since the last report on the Nzizi-1 well, logging operations have been completed and pressure
measurements taken.
Good oil shows were encountered during drilling over a gross interval of approximately 180
metres, directly above basement, in a similar section to that encountered by the Mputa-1 well, 6
kilometres northeast of Nzizi-1.
Wireline logs and pressure measurements indicate an interbedded sequence of oil bearing
sands and shales. No fluid samples or testing operations were planned for this well as it was
drilled in a slimhole configuration and consequently it will now be plugged and abandoned.

The vote was 94% in favour.

Bye bye Hardman Resources.

http://imagesignal.comsec.com.au/asxdata/20061218/pdf/00679287.pdf

"UGANDA thinks that it and neighboring countries have discovered oil deposits large enough to rival those of some of the world's greatest petroleum producers, according to Uganda's Energy and Mineral Development Minister Daudi Migereko......"

The item is a good overview.

http://www.nypost.com/seven/01092007/business/oil_find_in_uganda_may_change_game_business_john_crudele.htm

Pinched from O&G board - ManSiarad was the poster.

an interesting article, but hidden in there ...... Much of this could be wishful thinking. ..... says it all!!

meanwhile TLW, along with the rest of the oil sector, is struggling with a (comparatively) low crude price ...... however, i am more than happy to keep holding them, along with the mariginally more speccy BUR, as in the fullness of time (6/12 months?), i am sure there will be plenty of upward scope

Well we broke through the 200 day ma convincingly, so where will it stop?

about 350 is my guess .... looks to be support there ...... crude continues to plummet, but as a quality stock and one that may even prove to be a t/o target, i think i shall stay with it

Latest Kingfisher -1 report.

......Kingfisher-1A well has been successfully cased to 2,502 metres and drilled to a depth of 2,962 metres.

New drilling in the deeper section has encountered three additional potential
oil-bearing zones totalling approximately 40 metres between 2,260 and 2,370
metres, evidenced by wireline logging and formation pressure testing. Planned
testing of these zones will follow completion of drilling, to a target depth of
between 3,000 and 4,000 metres, which it is estimated will take up to a further
45 days. Test equipment has remained on site in readiness for the testing..........."

now fingers crossed that sp can hold or even improve on this level

cynic is the crossing of the lines, if it happens, called a golden cross?

Morgan Stanley (NYSE: MS - news) has resumed coverage of Tullow Oil (Dublin: TQW.IR - news) , appending an overweight recommendation and a 450p target.

and

http://www.hemscott.com/news/latest-news/item.do?newsId=38534446586491

Tullow Oil shares were also in fine fettle, adding 22 pence to 398 on news it had found hydrocarbons at the Kingfisher-1A well...

In response, Merrill Lynch reiterated its 'buy' advice on the UK oil group and said it has increased its net asset value (NAV) by a conservative 32 pence a share to 428 to reflect this news, while recognising a further material Ugandan NAV increase is likely in the coming months as Tullow conducts further appraisal work on its five discoveries.

The broker said it believes this work will likely both materially increase existing Ugandan reserve estimates and further de-risk the company's large inventory of un-drilled Lake Albertine leads and prospects.

The broker added it has raised its price target on Tullow to 470 pence.

not in this instance .... golden cross is when both 50 and 200 dma (typically) are on upward trend ..... whoops .... will post chart with 50+ 200 .... above is 25 + 200.

here you are .... comment is still the same ..... both dma's are tracking pretty neutral ..... but i like the fact that rsi is also still very neutral

thank you

Tullow upgraded to "buy"

Friday, February 16, 2007
Goodbody Stockbrokers

LONDON, February 16 (newratings.com) - Analyst Gerry Hennigan of Goodbody Stockbrokers upgrades Tullow (TLW.ISE) from "add" to "buy." The target price has been raised from 425p to 460p.

In a research note published this morning, the analyst mentions that the companys FY06 pre-close statement indicates that earnings are likely to be 12% higher than was earlier expected. Tullows FY07 total NAV estimate has been raised by 11%, the analyst says. The Hardman deal has lead to an increase in the companys exploration portfolio.

Tullow Oil PLC
01 March 2007

News release

Tullow Oil Plc - Kingfisher-1 Well Test Results


1 March 2007 - Heritage Oil, the operator of the Kingfisher-1 exploration well
in Uganda, in which Tullow Oil plc ('Tullow') is a 50% partner, today issued the
following press release:


Calgary, Alberta, March 1, 2007 - Heritage Oil Corporation (TSX: HOC) today
announced final results from the successful testing of all three intervals in
the deeper horizon of the Kingfisher-1A well in Block 3A, Uganda. The three
intervals tested, from between 2,260m to 2,367m, had a total net productive
thickness of 44 metres and produced at a cumulative maximum flow rate of 9,773
bopd. Additionally, the test of the shallower interval reported in November 2006
produced at a rate of 4,120 bopd, resulting in an overall cumulative maximum
flow rate of 13,893 bopd from the Kingfisher well. The tests may be summarised
as follows:

Depth Interval thickness Production Oil quality Flowing well head
pressure
(metres) (metres) (bopd) (API) (psig)
Deeper intervals
2,344 21 2,965 32 240
2,290 12 2,254 31 157
2,260 11 4,554 32 360
44 9,773
Shallower interval*
1,783 10 4,120 30 221
Total 54 13,893



* Test undertaken in November 2006


The oil is good quality light (between 30degrees and 32degrees API) and sweet
with a low gas-oil ratio and some associated wax. All of the above production
flow rates were conducted through a one inch choke. The reservoirs are
sandstones which have high permeability up to 2,300 milliDarcies.



The Kingfisher prospect is a very large structural high that is expressed at
surface on the bed of Lake Albert. Seismic data indicates an areal extent of up
to 70 square kilometres for the Kingfisher prospect. This first exploration well
only investigated a limited part of this large structure and did not reach the
deepest objectives.



Heritage is operator of and holds a 50% interest in Blocks 3A and 1 in Uganda,
and has a 39.5% interest in Blocks 1 and 2 in the Democratic Republic of Congo.
The total gross size of these holdings is in excess of 12,000 square kilometres
and they occupy a very substantial part of the Albert Basin. Heritage's partner
in these blocks is Tullow Oil. A map of the licenses, and the potential targets
in Block 3A, is available on Heritage's website (www.heritageoilcorp.com).



Looking forward to future Uganda work programs, Heritage has contracted to
acquire two seismic surveys this year; a circa 325 square kilometre 3D program
over the Kingfisher and Pelican structures in Block 3A and a circa 500 kilometre
2D survey in Block 1. Further drilling of the Kingfisher prospect will commence
following the acquisition and interpretation of the 3D seismic survey. Efforts
are currently being made to identify and secure a higher capacity rig capable of
deeper drilling in order to explore the deepest objectives not penetrated by the
Kingfisher well. In addition, initial plans are being developed to drill the
offshore Pelican prospect next year.



Tony Buckingham, Heritage's CEO stated 'The cumulative flow rate of 13,893 bopd
from the Kingfisher well has surpassed our expectations. The test results
indicate the outstanding potential of the Kingfisher discovery; substantially
lowers the exploration risk of drilling other multiple targets in our licenses;
and is another step closer to future production and commercial viability.
Heritage is accelerating the work program to maximise the potential of what
could be a world-class petroleum basin. All five wells drilled in the Albert
Basin in the last 15 months have been oil discoveries, which we consider
exceptional for a virgin onshore hydrocarbon basin and Kingfisher is the second
well that has produced over 12,000 bopd under test. This is a very exciting time
for Heritage, as these licenses could transform this Company.'

http://www.investegate.co.uk/Article.aspx?id=200703010702211034S

Time to fill your boots imo.

Tullow factbook new issue