Heritage Oil Logs Pay with Turaco-2 Well in Uganda

Heritage Oil reports that the initial wireline logging of its Turaco-2 well in the Block 3 license in Uganda has been encouraging. The well encountered shows of hydrocarbons while drilling and the interpretation of the initial logs indicates two potential hydrocarbon bearing zones.

Additional logging tools have been mobilized in order to extend the logging program. Certain test equipment has previously been mobilized so as not to unnecessarily delay the anticipated testing of the well. However, in view of the preliminary results, additional equipment has also now been mobilized to optimize the test program. The Company plans to commence production testing within 45 days, subject to the constraints of shipping and operational logistics to Uganda. A further press release will be issued on completion of the test program.

Micael Gulbenkian, Chairman and CEO said: "We are very confident of our continued success in Uganda and our commitment is demonstrated by the mobilization of further well test equipment. The logs indicate that the reservoir sands are of good quality so that we anticipate encouraging test results."

Heritage is the project operator and holds a 50% working interest.