Tullow Oil announces North Sea gas discovery

Tullow Oil has announced a gas discovery with the Monroe exploration well in the North Sea.

The 44/17b-7 discovery, located within Tullow's Caister Murdoch System core area, was spudded on February 16.

Subject to the outcome of pre-development studies, it is the co-venturers' plan to re-enter the well and tie it back to the ConcocoPhillips operated CMS III production network. First production is expected by mid-2005.

Co-venturers are Tullow Oil UK (15% interest), GDF Britain Ltd (39% interest and operator) and ConocoPhillips (UK) Ltd (46% interest).