LONDON--Tullow Oil PLC (TLW.LN) said Wednesday that the Twiga South-1 exploration well in onshore Kenya Block 13T has successfully encountered oil.

MAIN FACTS:

-Drilling is on-going and an announcement of the drilling result is expected in early to mid-November after target depth has been achieved and necessary sampling and analysis has been completed.

-The Twiga South-1 structure is the second prospect to be tested as part of a multi-well drilling campaign in Kenya and Ethiopia and is the first discovery in block 13T following the Ngamia-1 discovery earlier this year in Block 10BB.

-Tullow has a 50% operated interest in the Twiga South-1 well with Africa Oil holding the remaining 50% interest.

-Shares at 1034GMT, up 37pence, or 2.7%, at 1,419 pence valuing the company at GBP12.54 billion.

-Write to Rory Gallivan at rory.gallivan@dowjones.com; Twitter: @RoryGallivan

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