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Sovereign Funds

Heritage and Tullow expand Uganda discovery

By William MacNamara

Published: January 13 2009 10:54 | Last updated: January 13 2009 10:54

A rapid succession of oil strikes in western Uganda are increasing the likelihood that Tullow Oil and its joint-venture partner Heritage Oil are sitting on the largest new on-shore oil field in Africa.

Heritage, which operates and half-owns two exploration blocks around Lake Albert in Uganda, built on previous discoveries on Tuesday when it announced its largest strike to date at the Giraffe well in Block 1.

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