TULLOW yesterday moved one step closer to drawing oil from its Kasamene field in Uganda. News that it has found oil over 2km from the original discovery well suggests that the field could end up producing far more than expected.
Elsewhere in Africa, things are also looking good. It is in talks to buy two oil blocks on the Congolese side of its Lake Albert development in Uganda, while its Ghanaian oil field is on target to produce oil in the fourth quarter of this year.
Investors that want to capitalise on what is sure to be a burgeoning oil exploration market in Africa should pile into Tullow shares. There’s plenty more to come.