Exploration company Tullow Oil says it has made an oil and gas discovery, called Teak-1, off the coast of Ghana.
The company said it encountered 73 metres of net hydrocarbons in the field, in which it has a near 23% stake. The well in the West Cape Three Points licence and its near the Jubilee unit boundary.
Tullow said the discovery is an excellent outcome for the well and a great start to its 2011 multi-well exploration campaign in the West Cape Three Points licence.
'The significant potential of this discovery will be appraised during 2011 and 2012 once the current drill-out campaign has been completed,' commented Angus McCross, Tullow's exploration director.
