Tullow Oil and its 50 per cent partner Heritage Oil Corporation announced today that oil had been discovered at their Kingfisher well in Uganda.
Irish oil and gas exploration company Tullow and its Canadian partner said there is a cumulative maximum flow rate of 13,893 barrels per day from the Kingfisher well.
Heritage's CEO Tony Buckingham said that the flow rate "well surpassed" his expectations.
According to Heritage, further drilling of the Kingfisher prospect will start following the acquisition and interpretation of a seismic survey.
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Tullow shares remained unchanged at €5.46 this morning on the Iseq index.