Uganda could be new African oil province
Jul 26, 2006
HARDMAN Resources has said exploration success in north-western Uganda in an onshore area surrounding northern Lake Albert points to a new African oil province.
By Emmy Olaki
Hardman Resources has said exploration success in north-western Uganda in an onshore area surrounding northern Lake Albert points to a new African oil province.
Test results from the Waraga-1 well were highly-positive for commercialisation of Ugandan discoveries, with an aggregate flow rate of more than 12,000 barrels a day achieved.
“We are planning aggressive further exploration to follow up these discoveries, which have opened up a new potential African oil province,†Hardman’s chief executive Simon Potter said in the company’s June quarter report.
Hardman has moved the testing rig 18km from Waraga-1 to Mputa-1 where testing is expected to commence either later this month or early next month.
But, Potter said, Hardman, which is currently producing in Mauritania, is disappointed by the unexpectedly poor production performance of the Chinguetti field off the coast of Mauritania since April although production appears to have stabilised in recent weeks.
Hardman has a 19.01% stake in Chinguetti.
Ends
Hardman Resources has said exploration success in north-western Uganda in an onshore area surrounding northern Lake Albert points to a new African oil province.
Test results from the Waraga-1 well were highly-positive for commercialisation of Ugandan discoveries, with an aggregate flow rate of more than 12,000 barrels a day achieved.
“We are planning aggressive further exploration to follow up these discoveries, which have opened up a new potential African oil province,†Hardman’s chief executive Simon Potter said in the company’s June quarter report.
Hardman has moved the testing rig 18km from Waraga-1 to Mputa-1 where testing is expected to commence either later this month or early next month.
But, Potter said, Hardman, which is currently producing in Mauritania, is disappointed by the unexpectedly poor production performance of the Chinguetti field off the coast of Mauritania since April although production appears to have stabilised in recent weeks.
Hardman has a 19.01% stake in Chinguetti.
Ends