Kingfisher drilling yields good results for Tullow Oil

An oil exploration in which Tullow Oil has a 50% stake has yielded encouraging results.

Test drilling by Heritage Oil at the Kingfisher well in Uganda has found good-quality light oil.

The company says the find has surpassed expectations and shows the potential of the Kingfisher discovery.

It also says the results lower the exploration risk of drilling other targets, moving the firm closer to future production and commercial viability.