Operations Update

 

TIDMDPL 
 
RNS Number : 9141V 
Dominion Petroleum Limited 
10 November 2010 
 
? 
10 NOVEMBER 2010 
 
                           Dominion Petroleum Limited 
 
                          ("Dominion" or the "Company") 
 
                                Operations Update 
 
-      Completion of 3D seismic survey on Block 7, deep-water Tanzania 
 
-      Cross-border 2D seismic survey of Lake Edward Basin, Uganda and DRC 
commencing in Q1 2011 
 
Dominion is pleased to provide an update on its operations: 
 
Tanzania Deep Water Block 7 (Dominion Tanzania Ltd 100%, Operator) 
 
Dominion is pleased to announce that the 3D seismic survey that was recently 
conducted on Block 7, deep-water Tanzania, has now been completed. The data was 
acquired by Fugro Geoteam AS, using the seismic vessel the GeoBarents. The 
survey was conducted over a total area of 1,236 sq km covering the Alpha, Beta 
and 3 other prospects. A recent competent persons report (CPR) prepared by 
Energy Resource Consultants Ltd on the Alpha prospect confirmed a mean 
prospective resource of 1.1Bbbl as the oil case and 7Tcf as the gas 
case. 
 
 The data will now be processed by CGG Veritas. This should be 
complete by Q2 2011 and a "Fast Track" processed volume will be ready later this 
week. The long offset, 7km streamer, data will support amplitude variations with 
offset ("AVO") studies, these studies on the existing 2D data have helped 
de-risk Alpha and Beta already. The final results of the 3D and subsequent 
analyses will help the Company re-assess volumes and improve chances of success 
not only for the Alpha prospect but for all prospects mapped within, and 
immediately adjacent to, the survey area. 
 
 Dominion also notes that last 
month the first deep-water discovery in Tanzania, the Pweza-1 well, was drilled 
south of Block 7 and has proven a working hydrocarbon system in the deep-water 
of Tanzania.  This first discovery confirms Dominion's belief that offshore 
Tanzania is highly prospective and provides further confidence in its 
exploration efforts on Block 7. 
 
 Andrew Cochran, CEO of Dominion, 
commented: 
 
"The recent discovery in Tanzania is very significant and 
justifies the increased levels of interest shown by major industry players in 
deepwater East Africa. We are extremely excited by what we already know about 
Block 7 and early results from the 3D support the drilling of Block 7, perhaps 
next year depending on rig availability." 
 
 
Lake Edward Basin 
 
 

- Uganda Exploration Area 4B (Dominion Uganda Ltd

100%, Operator) 
 

- Democratic Republic of Congo, Block 5 (Dominion DRC

46.75%) 
 
 Dominion announces the first ever cross-border 2D seismic between 
DRC and Uganda for early in 2011. Dominion, and its partners, plan to acquire in 
excess of 300km of new seismic in the Lake Edward Basin. A contract will be 
awarded to the preferred contractor before year's end and the survey could start 
as early as January, lasting 3-4 months. 
 
 Dominion obtained valuable 
geological data from the Ngaji-1 well in Block 4B well and confirmed the 
presence of excellent quality reservoir sands as well as hints of source 
potential. These data justify continued exploration in the basin as a whole in 
both of the countries it straddles (Uganda and the DRC). 
 
 Andrew Cochran, 
CEO of Dominion, commented: 
 
 "Obtaining the first ever cross-border 
seismic on the Lake Edward basin demonstrates Dominion's unique and strategic 
position in the play. While Ngaji-1 disappointed on some levels the subsequent 
analyses easily justify continued exploration of the basin, now armed with a 
better understanding of the basin as a whole. We could return to drilling as 
early as next year depending on the outcome of the new seismic." 
 
 
Tanzania Onshore Mandawa PSA Kianika-1 well (Dominion Oil and Gas Ltd, 10%) 
 
The Kianika-1 well on the Mandawa PSA continues to drill ahead and is expected 
to reach its planned depth of 2900m before the end of  November. The well is 
operated by Dominion's partner Les Establissment Maurel et Prom (M&P).  Further 
details will be forthcoming as the well progresses. 
 
 
ENQUIRIES: 
 
+-----------+-----------+ 
| Dominion  |           | 
| Petroleum |           | 
| Limited   |           | 
+-----------+-----------+ 
| Andrew    | +44       | 
| Cochran,  | (0) 20    | 
| Chief     | 7811 5300 | 
| Executive |           | 
| Officer   |           | 
+-----------+-----------+ 
| Rob       |           | 
| Shepherd, |           | 
| Finance   |           | 
| Director  |           | 
+-----------+-----------+ 
|           |           | 
+-----------+-----------+ 
| Pelham    |           | 
| Bell      |           | 
| Pottinger |           | 
| Limited   |           | 
+-----------+-----------+ 
| Archie    | +44       | 
| Berens    | (0)20     | 
|           | 7861      | 
|           | 3112 /    | 
|           | +44       | 
|           | (0)7802   | 
|           | 442 486   | 
+-----------+-----------+ 
|           |           | 
+-----------+-----------+ 
| RBC       | +44       | 
| Capital   | (0)20     | 
| Markets,  | 7653 4000 | 
| NOMAD     |           | 
| and       |           | 
| Joint     |           | 
| Broker    |           | 
+-----------+-----------+ 
|           |           | 
+-----------+-----------+ 
| Martin    |           | 
| Eales     |           | 
+-----------+-----------+ 
| Paul      |           | 
| Stricker  |           | 
|           |           | 
+-----------+-----------+ 
| Canaccord | +44       | 
| Genuity   | (0)20     | 
| Limited,  | 7050 6500 | 
| Joint     |           | 
| Broker    |           | 
+-----------+-----------+ 
| Tarica    |           | 
| Mpinga    |           | 
+-----------+-----------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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