Exploration company Tullow Oil said today that it had made a new oil discovery at its Ekales-1 wildcat well in Kenya.
Tullow said this marks the fourth consecutive wildcat discovery, in the first oil basin opened in Northern Kenya, since its drilling programme started in 2012.
The well will now be tested to confirm productivity but gross reservoir volumes are believed to be within pre-drill expectations of over 50 million barrels gross recoverable, a note from Davy stockbrokers said this morning.
"This success at the Ekales-1 wildcat is further evidence of the exceptional oil potential of our East African Rift Basin acreage,'' commented Tullow's exploration director Angus McCoss.
''Having opened the first basin with the Ngamia-1 well last year, we are now increasing the pace of exploration in Kenya aiming for 12 wells over the next 12 months,'' he added.
