Thread started 31st July 2008, Price = 15.75p
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Web Site : http://www.dominionpetroleum.com/

May 2008 Presentation : Link To PDF file

July 2008 Presentation : Link To PDF file


Dominion is an independent energy company dedicated to exploration for new oil and gas reserves in East and Central Africa.
The Group was founded in 2004 and the strategy is to become the leading independent upstream exploration company in this region.
DPL intend to achieve this objective by using their experienced management team, their firm contacts and partners in East and
Central Africa and their excellent understanding of the geology of the region.
DPL are continuing to build on their strong acreage position in Tanzania and the Albertine Rift Basin (Uganda and Democratic
Republic of Congo) by adding new exploration opportunities in other emerging petroleum provinces in East and Central Africa.
The company currently has 57,356 square kilometers (14.17 Million acres) under license in Tanzania, Uganda and the Democratic
Republic of Congo (net to Dominions interest 53,573 square kilometers or 13.24 Million acres).




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http://www.oilbarrel.com/nc/news/display_news/article/dominion-petroleum-suffers-as-the-first-ever-well-in-ugandas-lake-edward-graben-comes-in-dry/771.html

July 22, 2010

Dominion Petroleum Suffers As The First Ever Well In Ugandas Lake Edward Graben Comes In Dry





Shares in Dominion Petroleum took a big on Wednesday, slumping almost 40 per cent to 3.39 pence, as the market reacted to news that the Ngaji-1 well in Uganda was a duster. The well, the first ever in the Lake Edward Graben, was drilled to 1,765 metres and failed to find any significant hydrocarbons, although a full suite of logging, coring and a vertical seismic profile will be acquired to help build the knowledge base of this, until now, virgin basin.
This is a setback for the AIM company, knocking confidence in its Uganda position, particularly as Ngaji (or Silverback) was selected as the maiden well because it was deemed the best location to test the geology of the basin. Uganda has become something of a City favourite following Tullow Oils successes in the Lake Albertine Graben to the north, where the resource estimates run into the billions of barrels, but dud wells by Tower Resources and now Dominion Petroleum may lead some investors to believe that Tullow (and its forerunners Heritage Oil and Hardman Resources) has a monopoly on the hydrocarbon-bearing rocks in this country.

Yet this is still much to play for here. Dominion, which is well funded following a US$50 million equity funding in March, has a strong acreage position in the Lake Edward Graben, straddling both Uganda and the Democratic Republic of Congo, so one dud well does not write off the entire basin. Whats more, as chief executive Andrew Cochran pointed out, the geology observed in the well demonstrated key elements of a prospective basin which had otherwise been fundamental risks in the Lake Edward Graben. The company now plans to acquire 2D seismic later this year ahead of further drilling in 2011; indeed, the Ngaji-1 well may well be suspended and used as the base for possible deviated drilled under Lake Edward next year to test a down-dip lead.

For many investors, however, the real interest in the Dominion portfolio lies to the south, off the coast of Tanzania. This is part of the East Africa Margin, an area that has attracted increased industry investment in recent years, a spend that seemed to be justified after earlier this year Anadarko Petroleum made a serious gas discovery in the deepwaters off Mozambique. This find, Windjammer, was important because it demonstrated the presence of source rock capable of generating significant volumes of hydrocarbons in this region, which, until this well, was the predominant risk associated with the offshore East African Margin.

Dominion holds 100 per cent of Block 7 in the deepwaters off Tanzania, where a recent CPR attributed the Alpha prospect a mean prospective resource of over 1.1 billion barrels of oil or more than 7 tcf of gas. Admittedly, this is high risk deepwater drilling (about 4,000 feet down), with Energy Resource Consultants giving the prospect a 12 per cent chance of success with a net risked mean resource of 134 million barrels of 848 billion cubic feet of gas.

A 1,000 sq km 3D seismic survey is expected to start shooting shortly, and should take 60 days to acquire. This will provide further data on Alpha and the other prospects and leads already identified on existing 2D seismic. This is mouth-water stuff: according to Cochran, a former exploration advisor at Anadarko, Alpha is not unique nor even the largest prospect so far identified in Block 7. This is an excellent start and it demonstrates the 'world class' nature of Block 7 in terms of hydrocarbon potential, said Cochran. Once armed with the upcoming 3D we will carry out additional technical analyses and update the full prospect and lead inventory accordingly."

The company also has a 10 per cent interest in the Mandawa PSA onshore Tanzania. Here the Kianika-1 well spudded last month, some 200 km south of the capital Dar es Salaam, to target a 264 bcf gas prospect with a 9 per cent chance of success. The first well here, drilled in early 2009, was P&A after it was found to be water-bearing, and Dominion subsequently farmed-down to Maurel & Prom to reduce its equity to the current level.

After the disappointment of the first Ugandan well, the Dominion Petroleum story looks to increasingly be a deepwater Tanzania story although time, and further seismic and drilling, may yet prompt a re-examination of the prospectivity of the Lake Edward Graben acreage.

sp waking up a little today is there some news coming?

Lots of volume and a lovely round bottom floor and now rising

sp up 20% so far today!

whoopy....

I like a round bottom....being very cheeky :)))

A folllow through today after the large profit taking yesterday after lunch time

The piece from Shares Magazine ..............


'Dominion Petroleum, which, unlike Heritage, remains a
player in Uganda, has also come off sharply. Its shares have
fallen 40% in the wake of disappointing results from the
Ngaji-1 exploration well in the country. We think the group
has capacity to recover with interest likely to switch to its
100%-owned Block 7 in deep waters offshore Tanzania. The
38 million cap expects to commence a 1,000 square kilometre
3D seismic survey imminently and positive results could
help attract a partner to the project.

Shares says: Buy Heritage Oil at 321.4p, Dominion
Petroleum at 3.1p.'

Large volume so far and share price rising

strong order book on the bid side

http://moneyam.uk-wire.com/Article.aspx?id=201009300700215642T

sp moves up smartly at the close?

spiked this morning, news coming?

think i did some dosh on this one a year or so back

do you rate this one friend hali?
order book looks uncomfortably weighted towards sellers which is of some concern, even though volume is very heavy

cynic we got caught when they announced a duster in Uganda so we averaged at around 3p waiting for some positive news, AGM coming up next month.

i always (well, quite often!) pay attention to what you post and was moderately tempted, but it worries me that offer outnumbers bid about 2:1, so not sure why the huge volume if it's positive

.

Forget about this...of all the oilies to pick....not this unless for a quick buck...if you want exposure to offshore Tanzania, take a look at COV, or even little AEX who will probably be respudding soon....

cynic possibly sp reacting to BG. RNS about drilling progress in Tanzania which is becoming a bit of a hotspot for E&P companies including your favourite TLW.

cynners ,Post Lake Edward duster , Since July i have been automatically trading in high volume @ 3.2 or so and selling beteen 3.8 and 4.00 .(only interday candlestick charts with their long wicks really illustates the riduculous regularity of this pattern ) .. so good for a quick buck ...But should j/vs with Soco or Maurel et Prom prove positive the entire ballgame changes but with over 1.5 billion shares in the mix big returns will be surely minimal ..but until news is known it remains a bit like painting by numbers play .A bit of fun - but lucrative. l agree with RF ...lf you want some exposure on what is being dubbed the new" hydrocarbon highway", and more importantly, serious money COV with over 50 leads on East African shelf from Kenya to mozambique is one to watch with a keen eye - ...-well capitalized , well run. well supported by insts, and well liked among city wallahs coupled with interests in two recent 8-12 TCF strikes of gas with Anakardo as oppos makes it an attractive investment

thanks TFC and RF .... have eyed COV a few times and may now buy a few and tuck them away (for at least a couple of months!)