Tullow Oil announced oil finds in Uganda.

The British firm said it has had success in Uganda's Lake Albert Rift Basin with the Ngege-1 exploration well and has found both oil and gas.

The well is the second in a continuous exploration campaign in the Butiaba region of Blocks 1 and 2.

"We are very pleased with the efficient progress we are making with the Butiaba campaign in Uganda. This is the 11th well in the basin to encounter hydrocarbons," said Aidan Heavey, chief executive of Tullow.

Tullow is a leading independent oil and gas exploration and production group, with interests in more than 100 exploration and production licenses in 23 countries and focuses on four core areas in Europe, Africa, South Asia and South America.