Tullow Oil has announced a gas discovery with the "Monroe" exploration well, in the North Sea.
The discovery, within Tullow's Caister Murdoch System core area, reaches a depth of 12,611feet.
Subject to the outcome of pre-development studies, the plan is to re-enter the well and tie it back to the ConcocoPhillips operated CMS III production network. First production is expected by mid-2005.
The co-venturers are Tullow Oil UK (15 per cent interest), GDF Britain (39 per cent interest and operator) and ConocoPhillips (46 per cent interest).
