Exploration company Tullow says it has made its largest discovery in the Lake Albert Rift Basin in Uganda to date.
It says that its Giraffe-1 exploration well, which is located in the Butiaba region, has encountered over 38 metres of net oil pay within an 89 metre gross oil bearing interval.
Tullow says the well was drilled 5m from Buffalo-1 to a total depth of 705 metres and has now been successfully logged and sampled.
Giraffe-1 is the sixth successful test of the Victoria Nile delta site within the Lake Albert Rift Basis. The well will now be suspended as a future producer.
Tullow has interests in three licences in Lake Albert. It operates Block 2 with a 100% interest and has a 50% interest in Blocks 1 and 3A, which are operated by Heritage Oil.
'Buffalo-Giraffe is one of the largest recent onshore oil discoveries in Africa,' commented Tullow's CEO Aidan Heavy.
'Combined with our other finds in the region, we have now clearly exceeded the thresholds for basis development. Options for commercialisation and first oil production are currently being fast-tracked,' he added.
