Sonangol, the Angolan National Oil Company, concessionaire, and Elf Exploration Angola, operator, announce a new oil discovery on Block 17, located in deep water 200 km Northwest of Luanda .

The discovery well, Tulipa-1 drilled in water depth of 1,005 meters is the fifth successful exploration well on Block 17. Production tests carried out gave a flow rate close to 7,000 barrels of oil per day.

This new discovery which follows those of Girassol, Dalia, Rosa and Lirio, requires further geological and engineering studies to evaluate its commercial potential.

Tulipa-1, which confirms the high rate of success of Elf Aquitaine in the exploration of the Block-17, belongs to the central zone of the block and opens the way to a new prospective area.

This result confirms the Group strategy to strengthen its presence in the deep and ultra deep offshore of Angola where he was recently awarded interests in each of the three Blocks 31, 32 and 33.

Furthermore, a new exploration well, Orquidea-1 is being drilled on the Block.

Elf Exploration Angola fully-owned subsidiary of Elf Aquitaine is operator of the following Contractor Group :

Elf Exploration Angola (operator) 35.00%

Esso Exploration Angola (Block 17) Ltd 20.00%

BP Exploration Angola Ltd 16.67%

Den Norske Stats Oljeseskap a.s. 13.33%

Norsk Hydro ASA 10.00%

Fina Exploration MB, B.V. 5.00%slt