Tullow Oil along with its partner Eco Atlantic Oil & Gas have commenced a 2,550 km2 seismic survey on the Company’s Orinduik Block offshore Guyana.

This block is located close to ExxonMobil’s Payara oil discovery. This week Exxon announced success in their Payara II well which increased the overall potential of the field.

The project partners hired Schlumberger Guyana who will utilize R/V GECO Eagle and two supporting vessels. It is expected to be completed within 50 days following which the results will be interpreted before an announcement is published.

According to Eco Atlantic they, together with and Tullow have completed the first phase of exploration including evaluating all existing and regional 2D data. Following the results of this study and the ongoing regional success, both parties have agreed to accelerate and significantly increase the originally proposed 1,000 km2 3D survey commitment on the block to circa 2,550 km2, thus covering the entire block area, fully overlapping current prospective 2D leads and downdip trends. 1,000 km2 3D survey commitment on the block to circa 2,550 km2, thus covering the entire block area, fully overlapping current prospective 2D leads and downdip trends.

According to Colin Kinley, Chief Operating Officer and co-founder of Eco Atlantic , “As previously announced and planned, we are excited to commence this significant 3D survey, which is substantially greater than the committed survey. In addition to further defining and de-risking the existing leads, the survey will hopefully better define potential drilling targets and determine the scale of the resource on the Orinduik Block. We look forward to processing the data and beginning to understand results in the fourth quarter of this year.”

Tullow was awarded the Orinduik block last year and holds a 60% operating stake, with Eco Atlantic on 40%."