Uganda Drilling Update
21 JULY 2010
Dominion Petroleum Limited
("Dominion" or the "Company")
Uganda Drilling Update
Dominion reports that the Ngaji-1 well was drilled to total depth ("TD") at 1765m; the results were inconclusive as it did not identify any significant hydrocarbons. The well, the first ever drilled in the Lake Edward Graben, was designed to test the geology of the basin and a full suite of logging, coring and a vertical seismic profile will be acquired. These results will support the layout and design of the 2D seismic program later this year and subsequent exploration drilling next year. Furthermore, the Ngaji-1 well may be suspended to provide for possible deviated drilling under Lake Edward next year to test a lead down-dip of the current location.
Andrew Cochran, Chief Executive, stated:
"We are pleased with the geology observed in Ngaji as it demonstrates key elements of a prospective basin which had otherwise seen fundamental risks in the Lake Edward Graben of Uganda and D.R. Congo. While stronger indications of hydrocarbons were hoped for, the well supports our planned exploration program for the whole basin in both countries over the next couple of years. As part of that program we should see seismic operations start in the fourth quarter of 2010 and a resumption of drilling in 2011."
ENQUIRIES:
Dominion Petroleum Limited
Andrew Cochran, Chief Executive Officer Tel: +44 (0) 207 811 5300
Rob Shepherd, Finance Director
Pelham Bell Pottinger Public Relations
Archie Berens Tel: +44 (0) 207 861 3112 / +44 (0) 7802 442 486
Seymour Pierce Limited, NOMAD
Nandita Sahgal Tel: +44 (0) 207 107 8000
Mirabaud Securities LLP, Joint Broker
Peter Krens Tel: +44 (0) 207 321 2508