News

July 29, 2008

Dominion Petroleum Settles Court Case To Focus On Frontier Exploration With First Tanzania Well Due To Spud In October

Much of the coverage of Uganda’s emerging oil potential focuses on the Lake Albert Rift Basin, where London-listed Tullow Oil and Heritage Oil have enjoyed a run of exploration successes. Yet AIM-quoted Dominion Petroleum, which listed in December 2006, is keen to prove there is more to Uganda than the lands surrounding Lake Albert.

The AIM firm is busy working up acreage in the Lake Edward Basin to the south, where it is currently shooting 368 km of land data over its 100 per cent owned Block 4B near the border with the Democratic Republic of Congo. (The company also has an interest in the 7,105 sq km Block 5 in the Democratic Republic of Congo, which adjoins Block 4B.) This will be followed by a 170 km shoot over the lake itself in September and October of this year.

This work follows an airborne gravity and...