British Tullow Oil (LON: TLW) Strikes More Kenyan Oil

Brian Hicks

Written By Brian Hicks

Posted November 27, 2012

Britain’s Tullow Oil Plc (LON: TLW) stated yesterday that the company’s Twiga South-1 well in Kenya’s Lokichar Basin has struck around 30 meters of net oil pay.

The discovery is similar in quality to the oil discovered at the company’s earlier Ngamia well, some 22 kilometers away.

From Reuters:

“This immediate follow on discovery reaffirms the considerable prospectivity of the Lokichar Basin,” said exploration director Angus McCoss in a statement.

Tullow also mentioned finding around 800 meters of gross oil pay deeper within the rock, meaning the Lokichar Basin appears increasingly promising.

In recent times, Kenya, Uganda, and Tanzania have all raised oil exploration hopes, with varying discoveries of oil reserves coming in swift succession.

The Twiga well is shared between Tullow and Canada’s Africa Oil (CVE: AOI), each holding 50 percent operating interests.

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