tullow oil rig

A BIT OF INFO ON UGANDA
...Tullow Oil has lined up a rig to drill its planned Ngassa wildcat in Uganda, saying seismic data suggested the prospect could dwarf its recent 600-million-barrel find off Ghana.

The company said yesterday that the Ghana discovery was the company's largest to date, with "significant further upside potential".

Tullow Oil Uganda's general manager John Morley told Reuters today the company expected to start drilling its seventh well in Uganda by early September if the rig arrived on time.

"Drilling this well, we're looking at a bigger target than Ghana," he said. "That is the tentative interpretation of the seismic results."

But he stressed nothing would be known until more drilling was done.

The rig, which is scheduled to drill the Ngassa and Kingfisher-2 wells, is set to leave the Kenyan port of Mombasa on 16 July. The rig will target deposits at depths of up to 7000 metres.

Tullow, which also shares two concessions in Uganda with Heritage Oil , wants to export the oil via a pipeline to Mombasa, should it find enough for that to be economic.

In the short term, it plans to develop the Ugandan fields to supply the domestic market with a 4,000-barrel-per-day project due on stream in 2009...

It's been a VERY long wait for Ngassa, finally it looks like we are getting somewhere.

GOOD LUCK ENJOY THE RIDE.