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Tullow Confident of Ugandan Oil Dividend
Daily Mail Tuesday, June 19, 2007


Tullow Oil, the Irish-owned oil explorer headed by serial investor Aidan Heavey, has seen its shares gain on talk of an oil discovery in Uganda.

Investors expect the announcement of yet another successful test drill at its Kingfisher project in the central African country. Its shares on the Irish Stock Exchange rose by 15c to E5.82 last week.

Meanwhile, Tullow's shares climbed 17 pence, or 5.3pc to Pounds Related Products

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4.16 in London on Friday where it is also listed on the Alternative Investment Market (AIM).

Last Thursday, the shares rose to 3.8pc lifted by news about the group's Ugandan Kingfisher project which continues to excite the market.

Mr Heavey announced it had struck further potential oil reserves in the Kingfisher 1A well, giving it a five-out-of-five oil strike success rate since drilling began in the last quarter of 2006.


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