This Policy Note is extracted from the proceedings of a two-day National Seminar on Managing Oil Revenue in Uganda, held in Kampala during the second week of July 2008 and opened by President Yoweri Museveni. The Government sought to attain three important objectives from the National Seminar: (i) share information on the country’s oil prospects with key stakeholders; (ii) provide a forum for the discussion of the National Oil and Gas Policy, and the proposed oil and gas legislation; and (iii) share the macroeconomic and political economy experiences of other countries. More specifically, officials sought to learn from other country experiences about oil’s impact on the fiscal regime, investment and savings, agriculture, the environment, and host communities. Additionally, they wanted to learn about how to collect accurate baseline data on oil exploration, create technical capacity, maximize local content, erect infrastructure, link research to policy, and promote accountability.