Tullow farm down in Uganda and Rights issue, page-3

The Directors believe this stepped reduction of debt will improve Tullow's financial and operational flexibility, and enable growth within the next three to five years by allowing the Group to:

(i) invest in further infill drilling opportunities in both its operated and non-operated portfolio;
(ii) undertake exploration and appraisal around the Jubilee and TEN fields to further develop the high return near field resource base;
(iii) undertake further exploration and appraisal activity in Kenya to further prove up the resource base;
DRILL HIGH IMPACT, POTENTIALLY HIGH RETURN PROSPECTS ACROSS TULLOW'S AFRICAN AND SOUTH AMERICAN PORTFOLIO; AND
(iv)


(v) take advantage of other opportunities that industry conditions offer.

I have capitalised the key sentence of the Tullow cash raise. The read through for an improved chance of Namibia drilling are excellent. It is particularly excellent news for ECO as they partner Tullow in Namibia and Guyana.
I am hoping for a major drill campaign in Namibia. I gather Azinam are keen to drill as well, so we may see a deal being done for multiple drills on multiple prospects with rights to drill more if they want to. There are three rigs stacked in Walvis Bay atm. Watch this space...