Uganda Drilling Update
July 21 2010 - 2:00AM
UK Regulatory
TIDMDPL
RNS Number : 6506P
Dominion Petroleum Limited
21 July 2010
21 JULY 2010
Dominion Petroleum Limited
("Dominion" or the "Company")
Uganda Drilling Update
Dominion reports that the Ngaji-1 well was drilled to total depth ("TD") at
1765m; the results were inconclusive as it did not identify any significant
hydrocarbons. The well, the first ever drilled in the Lake Edward Graben, was
designed to test the geology of the basin and will see a full suite of logging,
coring and a vertical seismic profile will be acquired. These results will
support the layout and design of the 2D seismic program later this year and
subsequent exploration drilling next year. Furthermore, the Ngaji-1 well may be
suspended to provide for possible deviated drilling under Lake Edward next year
to test a lead down-dip of the current location.
Andrew Cochran, Chief
Executive, stated:
"We are pleased with the geology observed in Ngaji as
it demonstrates key elements of a prospective basin which had otherwise been
fundamental risks in the Lake Edward Graben of Uganda and D.R. Congo. While
stronger indications of hydrocarbons were hoped for, the well supports our
planned exploration program for the whole basin in both countries over the next
couple of years. As part of that program we should see seismic operations start
in the fourth quarter of 2010 and a resumption of drilling in 2011."
ENQUIRIES:
Dominion Petroleum Limited
Andrew Cochran, Chief Executive Officer
Tel: +44 (0) 207 811 5300
Rob Shepherd, Finance Director
Pelham Bell Pottinger Public Relations
Archie Berens Tel: +44 (0) 207
861 3112 / +44 (0) 7802 442 486
Seymour Pierce Limited, NOMAD
Nandita Sahgal
Tel: +44 (0) 207 107 8000
Mirabaud Securities LLP, Joint Broker
Peter Krens
Tel: +44 (0) 207 321 2508
This information is provided by RNS
The company news service from the London Stock Exchange
END
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