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Dominion Petroleum (DPL:AIM) 17p

The company has expanded the scope of its portfolio in East Africa having picked up new exploration acreage in the Democratic Republic of Congo. The awarded licences adjoin Block 4B in Uganda, where Dominion has a 100% working interest and both blocks form part of the Albertine Rift system of sedimentary basins, where significant oil discoveries have been made by Tullow in the past. This highlights an increasing desire to increase exploration activity in an emerging oil & gas province. Dominion has committed to drill at least two wells on the acreage in the next five years under the terms of the production sharing agreement (PSA) and is looking at farm-in deals in order to boost its level of drilling activity.