After the conclusion of a two-week airborne ‘gravity and aeromagnetic’ survey early October, results are expected to be released some time next month.
When interpreted and presented, these results and other studies most likely to follow will end speculation on whether the country really has oil deposits, especially answering questions of how much and in what exact locations.
It is expected that, after the aerial survey, it would take almost a month before preliminary results materialised and this was reaffirmed by key officials Friday morning.
Charles Nyirahuku, Head of the Gas and Oil Unit in the Ministry of Infrastructure (MINFRA) and, Joseph Katarebe, Vangold’s Country Manager confirmed next December as the most likely timing for the results to come in.
“Nothing has come out as yet but we are still waiting. It might come out in December,” Katarebe told The New Times on phone.
Vangold Resources Ltd is the Canadian Company exploring for oil in the Western Province.
“We are expecting them (Vangold) to present the results in December,” MININFRA’s Nyirahuku confirmed in a subsequent phone call.
As earlier reported, specialists of New Resolution Geophysics, a South African company subcontracted by Vangold to carry out the airborne survey, arrived in the country on September 19 and commenced work immediately.
Rumours that the country could be sitting on huge oil reserves crop up from the fact that Heritage Oil and Tullow Oil, two UK oil prospectors, have hit it big with findings in the Albertine basin spanning Uganda and Democratic Republic of Congo (DRC).
The meaning of what the ‘airborne gravity and magnetic data’ means will, however, shed good light on the matter and help dispel all false impressions.