Dominion Funds Uganda Well

摘要

London-listed Dominion Petroleum has tapped institutional investors for ?2.7 million ($50 million) to fund near-term exploration, including a first well onshore Uganda that is now expected to spud around May or June. The company, which trades on London's junior Alternative Investment Market, will spend around $15 million of the cash raised through the private placement to drill the Silverback prospect on its EA4B license around Lake Edward (IOD Dec.3,p6). Independent consultants ERC say the acreage offers mean unrisked prospective resources of 127 million boe with a 22% chance of technical success.