Heritage Oil in Tanzania

Heritage has two licences in Tanzania: Rukwa South and Kyela. Both licences are considered to be geologically analogous to the Lake Albert Basin in Uganda.

=Rukwa= In November 2011, Heritage was awarded a PSA for the entire Rukwa Rift Basin, comprising Rukwa North and Rukwa South. The company operates with a 100 percent interest. First 2D seismic data of the Basin were collected in the mid-1980s. Heritage completed its first 2D seismic of an area covering 600 km in March 2013. The data collected indicate that the principal prospectivity lies in the area of the Rukwa South Licence. In consequence, Heritage abandoned the Rukwa North licence. Focused interpretation over the Rukwa South licence area has resulted in the identification of several prospects, which are believed to be geologically analogous to the Kingfisher oil discovery in Uganda. The company is currently mapping and evaluating these prospects.

=Kyela= The Kyela PSA was awarded to Heritage in January 2012. The PSA covers the entire northern onshore area of the Lake Nyasa Basin in Tanzania. The licence area has never previously been explored for hydrocarbon reserves. Since 2012, Heritage has conducted different surveys including a 100 km reconnaissance seismic survey and a geochemical survey. In 2013, a 100 km reconnaissance seismic survey was completed. It confirmed the presence of structures as indicated by gravity data that was collected earlier. A multi-well drilling programme across the two licences is planned for 2015.



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