7th Dec 2007 07:00
Tower Resources PLC07 December 2007 PRESS RELEASE7 December 2007 Tower Resources Plc (the 'Company') Uganda - Seismic Operations commence Tower Resources plc is pleased to announce the commencement of an approximately300 kilometer 2-D seismic exploration programme in Exploration Area 5 ("EA 5")in Uganda. The seismic will be shot by IMC Geophysics International Limited over asedimentary sequence with prospective structures in the Albertine Graben systemthat was identified by a regional gravity survey. The data is expected to beprocessed and interpreted by the end of Q1 2008. The seismic is being shot under the terms of an agreement between Tower and OrcaExploration announced on 28 August 2007. On receipt of the fully interpretedseismic, Orca Exploration has the right to acquire a 50% working licenceinterest in EA 5 in return for funding 83.33% of two exploration wells. Peter Kingston, Tower Resources' Executive Chairman, commented: "Uganda has seen successful exploration activity in the Exploration Areas to thesouth of EA5 and I am delighted that we are now physically collecting seismicdata over our Exploration Area. In anticipation of positive results, togetherwith Orca Exploration, we have commenced the search for a suitable rig to drilltwo exploration wells during 2008." For further information, please contact: Tower Resources plc www.towerresources.co.ukPeter Kingston, Chairman 07802 804852 Blue Oar SecuritiesRhodri Cruwys 020 7448 4400 Aquila Financial Limited www.aquila-financial.comPeter Reilly 020 7202 2600Yvonne Fraser Notes to Editors Tower Resources Plc is an AIM-listed, independent oil and gas explorationcompany based in London. The company is focused on sub-Saharan Africa, holding exploration licences inNamibia and Uganda through its two operating subsidiaries Neptune Petroleum (Namibia) Ltd and Neptune Petroleum (Uganda) Ltd. The company's assets include; blocks 1910A, 1911 and 2011A offshore Namibia andonshore block 5 in Northern Uganda. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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