spuds ugandan well target 100 million barrels , page-72

wow, just woke up and was having a quick check of what was happening in the US markets and decided to check how GBP/TRP finished trading in the UK tonight, certainly a stellar performance with both finishing up 18% on very heavy volume, hopefully we will see the momentum continue in GBP trading this morning.

seems to be plenty of speculation humming around the UK of possible oil shows encountered in their Ugandan exploration over the weekend, no real surprise that speculation would start to arise given the huge target size, what is of more interest is that in the lead up to the results of the first Ugandan well news leaked that it was a duster and the shareprice fell away, but this time it is the complete opposite with the shareprice surging as we get closer.

could this mean we have a possible major oil discovery on our hands?

as I have posted previously I expected at least one major speculation backed run heading into the results, which looks likely to have started in the UK overnight it will be interesting to see if we have follow through not only in australian trading today but in the UK tonight.

as always there are risks when investing in oil/gas exploration so its important to DYOR.