News

January 26, 2009

Dominion Petroleum Announces The Spudding Of Its First Well In Tanzania In Highly Prospective East Africa

Dominion Petroleum listed on London’s AIM in December 2006, and has since then been busy assembling a potentially heavyweight portfolio of exploration and development acreage in East Africa. It has taken time, it often does, but the group is now about to spud its first well. This well is a little later coming along than anticipated, but it is nevertheless now underway.

East Africa is currently one of the sexiest exploration provinces in the world. Once considered barren Uganda has reaped rich rewards for Tullow Oil and Heritage Oil with substantial world class discoveries. Tullow has moved from being a modestly sized company in 2004 with a reputation as a successful appraisal and development group in the UK North Sea but a lacklustre image with the drill bit.

Now five years on it is one of the best performing players in the FTSE 100 through its...