Dominion Petroleum is an independent oil and gas exploration company operating in East and Central Africa. Over the last three years, Dominion has assembled a portfolio of assets covering highly prospective acreage in Tanzania, Uganda and the Democratic Republic of Congo.

 

Uganda

 

Dominion is currently undertaking a 2D seismic survey on its Uganda Block 4B Production Sharing Agreement (‘PSA’) area. In June 2008, Dominion’s contractor, IMC Geophysical International Ltd., began acquisition of approximately 368 km of land seismic to be followed by 170 km of seismic on Lake Edward in late September/ October. This survey is the first deep seismic acquisition in the Lake Edward Basin, within the Albertine Graben, where Tullow and Heritage have made oil discoveries in the Lake Albert Basin to the north. Initial results from the first line show the presence of a significant sedimentary section under the land area. An airborne gravity and magnetic survey was carried out in May over the Lake Edward area (including Dominion/Soco/Cohydro’s Block V PSA area in the Democratic Republic of Congo). Interpretation of this survey is being integrated with the early seismic results. A remote sensing study has indicated that potential hydrocarbon seep anomalies are present. Subject to interpretation of the seismic survey currently being undertaken, the Company anticipates drilling its first exploration well in the Block 4B area during the second half of 2009.

 

Tanzania Onshore

 

In Tanzania, Dominion is moving towards drilling its first exploration well in the Mandawa PSA Area, Mihambia-1. Site preparation is expected to be completed in August and drilling is expected to commence in October. Rig and services contracts will be signed shortly. Material delivery to warehouse facilities at Kilwa is expected to be completed in August. The North Mandawa seismic survey was completed in March by Upstream Petroleum Services Ltd. Processing and interpretation have been completed and Environmental Impact Assessment work on potential drilling locations for the second half of 2009 has commenced. Farm-out negotiations are underway on the Mandawa PSA. Dominion’s farmout of the Kisangire PSA to Heritage Oil Ltd. is expected to be approved by the Tanzanian Government shortly. A seismic acquisition programme is planned by Heritage for later in 2008 and is anticipated to lead to drilling an exploration well in 2009 / 2010.

 

Tanzania Offshore

 

Processing of the Block 7 seismic data was completed in May and interpretation of the 4300 km of data is underway, with completion anticipated in October. A 3D seismic programme remains to be acquired as part of the work commitment. Dominion expects to participate in a joint industry oceanographic (current and wave) study over central Tanzania to Northern Mozambique, in late 2008/2009.

 

Mike Garland, Chief Executive of Dominion Petroleum, commented:

 

“Dominion Petroleum’s aim is to carry out and fulfil its work commitments on its PSA areas as soon as practicable after award. We are very excited about the new information from these areas which already show considerable potential. We are now looking forward to move into the next phase of activity for Dominion – high impact drilling.”

 

ENQUIRIES:

 

Dominion Petroleum Limited

Mike Garland, Chief Executive +44 (0) 20 7811 5300

Rob Shepherd, Finance Director

 

Pelham Public Relations

Archie Berens +44 (0)20 7743 6679 / +44 (0)7802 442 486

 

Seymour Pierce Limited

Nandita Sahgal +44 (0)207 107 8000

 

Tristone Capital Limited

Nick Morgan +44 (0)207 355 5800

 

ABOUT DOMINION PETROLEUM

See www.dominionpetroleum.com