The Ghana National petroleum Corporation(GNPC), announces today Friday, 20th July, 2012, that the Wawa-1 exploration well, located in the DeepwaterTano(DWT) Block offshore Ghana, discovered 20 metres (65 feet) of gas-condensate column and 13 metres (42 feet) of oil.

Samples of oil recovered from the well indicate that it is of high quality of API values of between 38 and 44 degrees. Pressure data indicate the Wawa discovery is separate and distinct from the adjacent Tweneboa, Enyenra and Ntomme (TEN) cluster of discoveries.

The Wawa-1 exploration was drilled 10 kilometres north of the Enyenra-3A well in water depths of approximately 587 meters (1,926 feet. The well was drilled to a total depth of approximately 3,322 meters (10,899 feet). It is planned thatfurther evaluation of this well will be conducted after which it well will be suspended for possible future use in appraisal and development operations.

According to Mr.Thomas Manu, Director of Exploration and Production of GNPC, “The Wawa discovery is a confirmation of the prospectivity of the offshore Western Basin”. The Director further stated that “The discovery has enhanced the value of the TEN (Tweneboa, Enyenra and Ntomme) complex, for which the plan of developmentis currently being discussed among the partners. He hinted that further exploration drilling is planned within the block before the end of the year.”

Ghana National Petroleum Corporation has 10-percent carried interest in the DeepwaterTano Block and has the option to acquire for additional paying interest of 5-percent upon declaration that the discovery is commercial.

The other Partners in the Block include Tullow Oil plc (49.95-percent working interest and operator), Kosmos Energy (18-percent working interest), Anadarko (18-percent working interest) and Tano Block Sabre Oil & Gas Holdings Ltd (4.05-percent working interest).