tullows ugandan prospect could swell its value, page-5

Thanks for that xmagx.

H, I don't think Tullow has specifically mentioned anything about 250-300mmbbls. See their RNS, which is an exact replica of Hardman's announcement...

http://investor.tullowoil.com/tlw/ir/newsevents/rns/rnsitem?id=1148969019nRNSd7252D

I think the 250-300mmbbls has come out of the Uganda government who, based on recent articles, appears to do a bit of bullish ramping without substantiated evidence. AFAIUI, 250-300mmbbls is still possible but only if Nzizi and Ngambwa are successful. IMHO, although they have been significantly derisked with the last three results, it's still a bit early to make that call...

As for the lack of details in yesterday's announcement...

"The implications of this pressure data and the fact that the target sands came in over 100 metres shallow to prognosis are both positive to the interpretation of the Mputa Field; the new data is being integrated with existing models in order to provide estimates of oil in place for these upper sands shortly."

They did say that an estimated OIP figure will be provided shortly. I suspect we won't hear much until after the flow testing, whether we like it or not.

HTH...
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