Tullow makes another significant oil find in Uganda, after Ghana

UK-based oil and gas explorer which is also operating in Ghana has announced another significant oil find in Uganda, just a day after announcing one more major find in Ghana.

Tullow has said in a press statement Friday January 22, 2010 and copied to ghanabusinessnews.com that “the Kasamene-2 appraisal well, which is located in the Butiaba region of Uganda Block 2, has encountered 39 metres of net oil pay and 8 metres of net gas pay within a 132 metre gross interval.”

According to the statement results of wireline logging, pressure surveys and fluid sampling have confirmed the presence of oil and gas.

“Reservoir quality is excellent and the net pay thickness is the largest encountered in the Butiaba area to date,” it said.

Thursday January 21, 2010, Tullow announced “a significant find” at the Tweneboa-2 well in Ghana.

The statement indicated that the exploratory appraisal well, being drilled some 6 km southeast of the Tweneboa-1 discovery, has intersected a significant combined hydrocarbon column.

Commenting on the Uganda find, Paul McDade, Chief Operating Officer of Tullow in Uganda said: “Encountering the largest net pay thickness in Butiaba to date is an outstanding result, confirming the lateral quality and extent of the Victoria Nile Delta reservoirs and enabling fast-tracked development of the Kasamene field. We continue to work closely with the Government of Uganda on plans for development and look forward to achieving early first oil from the basin.”

Tullow has interests in three licences in the Lake Albert Rift Basin in Uganda. Tullow operates Block 2 with a 100% interest and has a 50% interest in Blocks 1 and 3A which are operated by Heritage Oil (50%), the statement said.

Meanwhile, the Ugandan government says it will block Tullow’s bid for Heritage Oil’s 50% share in Blocks 1 and 3A in the Lake Albert Rift Basin in favour of Eni of Italy.

The government says it is not in favour of a Tullow bid because it did not want it to have monopoly over Uganda’s oil industry.

However, Tullow officials have said they are not looking at monopolizing the oil industry but seeking to bring in more serious and credible partners.

By Emmanuel K. Dogbevi

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