Tullow Issues Update on Uganda Project

Tullow Oil plc, which is a 50% partner in the Nzizi-1 exploration well in Uganda, said that operator Hardman Resources has completed logging operations and taken pressure measurements.

Good oil shows were encountered during drilling over a gross interval of approximately 180 meters, directly above basement, in a similar section to that encountered by the Mputa-1 well, 6 kilometers northeast of Nzizi-1.

Wireline logs and pressure measurements indicate an interbedded sequence of oil-bearing sands and shales. No fluid samples or testing operations were planned for this well as it was drilled in a slimhole configuration and consequently it will now be plugged and abandoned.

The well result suggests there is scope to significantly increase the recoverable volume reported so far for the Mputa/Waraga area, of around 30 million barrels, and hence further enhance the potential resource base in the Albertine Basin. Studies are underway to establish a range of development options for the existing discoveries, which allied to additional seismic currently being acquired and future appraisal drilling, will determine ultimate commerciality.

Commenting on the Nzizi-1 result, Simon Potter, Hardman MD and CEO, said:

"The fourth discovery in four wells drilled by Hardman in Exploration Area 2 proves that the working oil system extends over a significantly greater area, adding to the resource base established so far this year, and providing encouragement for future exploration of the basin."

Equities in Block 2 are:

  • Hardman Petroleum Africa Pty Ltd (Operator), 50%
  • Tullow Oil plc, 50%
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