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Heritage, Tullow bask in new Warthog oil


Published Oct 21, 2008
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Tower & Orca join forces in Uganda

Heritiage Oil and Tullow Oil have made a new oil discovery at the Warthog 1 well in Uganda, where a string of area wells have proved up a new play.

Tullow’s share price rose 3.26 percent on the news. Heritage rose over 15 percent.

The Block 1 find showed 46 metres of net oil and gas pay and has cut the risk associated with two planned wells in the area. The next well, Buffalo 1, well starts up in mid-November, and a third Kingfisher well is seen as almost a “sure thing”.

Pressure and logging show 31 metres of net oil pay “overlain by 15 metres of additional net hydrocarbon pay comprising, most probably, volatile oil, condensate and wet gas”, 50-50 partner Tullow said in a statement.

Tags: Heritage Oil Corporation, Tullow Oil



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