Tullow Oil has rushed out a drilling update after spilling good news to a group of investors.
The company said it had hosted a meeting this morning in Nairobi and it was "inadvertently indicated that the Ngamia-1 well was drilling into the primary target and that initial results appeared to indicate the well had intersected further oil bearing sands."
The company clarified it had encountered oil and gas reservoirs at a depth of more than 1,800 metres which were similar to those found in shallower levels. The drilling programme will take another three weeks to complete.
Tullow's shares, which had been rising this morning, are now 23p better at £13.86.
