Oil discoveries continue apace in Lake Albert region

Thursday, 27 August 2009 10:07

Tullow Oil may have hit on another huge find in Uganda, according to Bloomberg. Results from the Ngassa-2 well are expected within the next two weeks but initial estimates suggest that as much as 600 million barrels of oil may be contained in the field. Total discoveries in Uganda are currently around the 700 million barrel mark, highlighting the importance of the Ngassa well find. Thus far Tullow have drilled 27 wells in the Albertine Basin region of Uganda and have discovered oil in 26 of them.

President Musveni has stressed that he wants the oil to be refined within Uganda to ensure that maximum profit is extracted. As such Tullow are currently searching for partners with experience in pipeline building and refineries to join them in Uganda, according to CEO Aidan Heavey.

Tullow shares on the London Stock Exchange have risen 60% in 2009, valuing the company at £8.45 billion.

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Efficient exploration
written by geolog, August 28, 2009

“The bonanza from oil, however, is at an end…” Why? Everything isn’t so bad..

What are we doing in exploration now? - One commercial discovery in four wildcats, isn’t it?

I would like to inform you that there is an innovative technology for oil/gas detection to significant increase of world energy potential and mitigate the economic crisis.
With new exploration technology (patented invention US 7,330,790) we could make up to three times more oil and gas discoveries than when using conventional technology. And the fact that new technology won't need more investments is also very important. It can significantly mitigate world energy problems.
The technology is designed and successfully tested in the Barents and the Black Seas as well as in the Gulf of Mexico (see: www.binaryseismoem.weebly.com).
But the Big Oil Companies ignore the technology and drill 75% dry wildcats for nothing to support higher gasoline prices.
A. Berg, Ph.D.