Heritage Spuds New Ugandan Well Near Warthog and Buffalo Discoveries
Heritage Oil has commenced drilling the Giraffe-1 exploration well in Block 1, Uganda.
- Giraffe-1 continues the multi-well drilling program in Block 1, Uganda.
- Recent discoveries at Warthog-1 and Buffalo-1 in Block 1 have lowered exploration risk substantially.
- Giraffe-1 is expected to take between two and three weeks to drill and complete.
Drilling Activity - Block 1, Uganda
The Giraffe-1 exploration well, the third exploration well in the program, is being drilled to an anticipated target depth of 800 meters and is expected to take approximately three weeks to drill and complete. Giraffe-1 is located five kilometers southwest of the successful Buffalo-1 well.
Heritage has had success in Block 1 recently with the Warthog and Buffalo discoveries. In addition, there are many other prospects mapped within the block from over 600 kilometers of seismic data acquired in the license during the past 18 months. All are characterized by encouraging seismic amplitude anomalies similar to those seen over the Buffalo and Warthog discoveries. These all represent further prospects and leads which constitute additional multiple drilling targets within the block.
Tony Buckingham, CEO, commented, "Operationally, 2008 has been an excellent year for Heritage as we have made extraordinary progress with our highly successful drilling program in Uganda. This multi-well program is continuing in Block 1 with the Giraffe-1 exploration well. We enter 2009 with high impact drilling programs continuing in Uganda and the Kurdistan Region of Iraq."
Heritage is the Operator of Block 3A and Block 1 in Uganda with a 50% equity interest in the licenses with Tullow Oil Plc holding the remaining 50% interest.
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