waraga 1 , uganda could report today

HDR/Tullow's wildcat well, Waraga-1 should have been at 1,850m by last Saturday, and the logs should have been run over the weekend unless we have had mechanical problems. We could have a report today. Simon has maintained his theme that "the geological risk has been reduced by the success of Mputa-1". I am sure HDR holders will be keen to know the result. Let us remember that seismic-based predrill estimates of the oil reserve potential for each of Mputa and Waraga were 150 mm bbls . The impact on the HDR shareprice of both fields being declared commercial would be almost as large as Chinguetti in Mauritania.