Tullow Oil has announced an oil discovery after drilling at its latest well in Uganda. The find at the Ngara-1 well is the tenth in the Victoria Nile Delta area where Tullow has been exploring.
The well is now being suspended as a future oil producer. Tullow says the Ngara-1 well and the other discoveries made in Uganda will form part of a detailed basin development plan on which it is currently working.
Tullow's exploration director Angus McCoss said preparations were now under way to start a new drilling programme with its partner, Heritage Oil, in Block 1 of its Ugandan interests in the fourth quarter of this year. Ngara-1 is in the Butiaba region of Block 2.
Meanwhile, Petroceltic has drilled its second well of its current campaign on the Isarene Block in Algeria. The well is being suspended for testing. Chief executive Brian O'Cathain said the logs from the well looked 'encouraging'.
Pallas Green project estimate
It has been estimated that the Tobermalug deposit at Pallas Green, Co Limerick, contains 1.15 million tonnes of zinc metal and 215,300 tonnes of lead metal.
The estimate was published by Xstrata Zinc, which is a joint venture partner in the project with Irish exploration company Minco. Minco has a 23.4% stake.
