Introduction to Dominion
Dominion is an independent energy company domiciled in Bermuda and dedicated to exploration for new oil and gas reserves in East and Central Africa. The Group was founded in 2004 and listed on the Alternative Investment Market of the London Stock Exchange in December 2006. Our strategy is to become the leading independent upstream exploration company in this region. We intend to achieve this objective by using our experienced management team, our firm contacts and partners in East and Central Africa and our excellent understanding of the geology of the region. We will build on our dominant position in Tanzania by adding new exploration opportunities in other emerging petroleum provinces in East and Central Africa.
Dominion offers the chance to participate directly in the oil and gas industry in this rapidly emerging new petroleum province.
Dominion share price information may be viewed here.
Company making prospectivity
In Tanzania, Dominion benefits from large investments made in the past by major oil companies, principally Shell. The company accordingly has a portfolio of 16 prospects onshore in Tanzania and will begin drilling these prospects in 2008. Dominion’s un-risked recoverable resources have been estimated at 1,115 million barrels of oil equivalent (103 million barrels risked). Off the Tanzanian coast, Dominion operates an exploration license on the continental slope of the Indian Ocean where there are large exploration targets. In Uganda, Dominion now operates a largely unexplored licence within the Albertine Rift Basin, the location of substantial oil discoveries in 2006 and 2007.
Dominion's Focus
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East Africa
The importance of Africa to global hydrocarbon exploration is set to increase in the coming decade. By the end of 2004, Africa contributed 11.4% of the world’s liquid oil production. The FT has reported estimates that Africa will supply 30% of growth in global hydrocarbon production by 2010.
Only about 5% of exploration wells drilled in Africa as a whole have been drilled in East Africa. The region is accordingly now undergoing a surge in exploration activity. Its favourable geology, stable political economy and central position for world markets make it an attractive proposition for oil exploration and commercial oil production. Dominion currently has 48,939 square kilometres (12.09 million acres) under license in Tanzania; 2,021 square kilometres (0.50 million acres) under license in Uganda; and 7,105 square kilometers (1.76 million acres) under licence in the Democratic Republic of Congo.