"Activity in South America has focused on pursuing geological play types similar to the Jubilee field in Ghana."
Possibly the most interesting piece of news in today's Interims is that Tullow have farmed out 33% of thie block in Frech Guiana to Shell.
In French Guiana, where Tullow has identified numerous Jubilee-type leads in the Guyana Martime licence, Tullow has reached agreement to farm down a 33% interest to Shell Exploration and Production France SAS (Shell). Tullow retains a 64.5% operated interest in the block where a 3,000 square kilometre 3D seismic programme commenced in mid-September. The sale to Shell, which also includes an option to acquire a further 12% at a later date, is subject to formal approval from the relevant French authorities. It is anticipated that agreement will be reached to farm down further equity in this highly prospective block to another party before year-end.
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