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Tullow, Heritage press exploration in Uganda

02/11/2008
Heritage Oil Corp., Calgary, and Tullow Oil PLC are attempting to tap Uganda’s first oil discoveries in what could become Africa’s next oil production megaproject.Seismic and drilling are ramping up in the Lake Albert rift basin with expectations of reaching commercial status and identifying sufficient reserves to support construction of a pipeline some 1,300 km to the Indian Ocean.The currently drilling exploration well is expected to reach its primary target in late March 2008, and the outlook for the first oil production is in 2009.Tullow, operator of Block 2 with 100% interest, plans to invest more than $200 million—double its 2007 outlay—in 2008 in Uganda.Both T...
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