Energy Institute of Uganda (EIU)

TULLOW Oil Plc, a leading independent oil and gas, exploration and production group has announced the discovery of more oil and gas in the Kasamene-1 exploration well in Uganda.

Tullow Oil said in a press release issued to the London Stock Exchange this morning, it encountered over 31 metres of net oil pay and at least 6 metres of net gas pay while drilling the hole, located in the Butiaba region.

Testing and sampling confirmed the presence of dry gas and moveable oil, Tullow said, adding reservoir quality is 'excellent'.'The most likely gas column is over 35 metres and the most likely oil column is over 75 metres,' Tullow said.Aidan Heavey, Chief Executive of Tullow commented: "Kasamene-1 is the most important result to date in Tullow's Butiaba drilling campaign.

 In addition to maintaining our 100% exploration success record in Uganda, this result indicates the potential for further significant discoveries from the Victoria Nile delta play, and is likely to represent an important element of longer term commerciality planning."