Tullow Oil reported further positive results from its exploration wells in Uganda and likely oil discoveries at its Waranga prospect.
Tullow's exploration partner Hardman Resources reported the discovery, which follows on the heels of earlier strikes at the M'Puta prospect.
As a result of the drilling, the depth of the well has been revised to a total depth of 2,050 metres - which is indicative of a sizeable quantity of oil.
Tullow share reacted positively to the news, jumping 3 per cent to £3.12 this morning.
