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. The company has built on its dominant position in Tanzania, expanding into the Albertine Rift Basin in Uganda and the Democratic Republic of Congo and will continue to develop its interests in its core area.

Dominion offers the chance to participate directly in the oil and gas industry in this rapidly emerging new petroleum province. 

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Dominion share information on the AIM may be viewed here. Dominion is providing the information on this web site in compliance with AIM Rule 26. Recent research on the company may be downloaded here.

Company making prospectivity

Dominion is the second largest net acreage holder in the Albertine Rift Basin in Uganda and the Democratic Republic of Congo where it operates two exploration licences. This basin has seen nearly thirty oil discoveries over the past three years and has emerged as the premier new oil exploration province in the region. Dominion’s net unrisked recoverable resources in Uganda (PDF) have been independently estimated at 359 Million barrels of oil (64 Million barrels risked).

In its Tanzanian onshore licenses, Dominion has drilled one exploration well, Mihambia-1 (plugged and abandoned as dry) and has a portfolio of 15 further prospects. Dominion’s net un-risked recoverable resources onshore in Tanzania have been independently estimated at 461 Million barrels of oil equivalent (47 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. The company estimates that the largest prospect may contain an unrisked recoverable resource of 1,030 Million barrels of oil equivalent.

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 gross un-risked recoverable resources onshore in Tanzania 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. Dominion is also now the second largest net acreage holder in the Albertine Rift Basin in Uganda and the Democratic Republic of Congo where it operates two exploration licenses.This basin has seen more than ten oil discoveries over the past two years.

Dominion's Focus

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 48,230 square kilometres (11.91 million acres) under license in Tanzania, 2,021 square kilometres (0.50 million acres) under license in Uganda and 7,346 square kilometres (1.82 million acres) under licence in the Democratic Republic of Congo (gross acreage figures).