Business
Operations Update
Operations Update.
About this update from Tower Resources Plc
[{"type":"text","content":"\n \nRNS Number : 7763E Tower Resources PLC 13 April 2011 \n \n\nPRESS RELEASE \n13 April 2011\nTower Resources plc\n(\"Tower\" or the \"Company\")\n \nOPERATIONS UPDATE \n \nTower Resources plc (AIM:TRP), the oil and gas exploration company with interests in sub-Saharan Africa, principally in Namibia and Uganda, is pleased to provide an update to shareholders on its current operations in each country, managed by wholly-owned subsidiaries Neptune Petroleum (Namibia) Limited and Neptune Petroleum (Uganda) Limited.\n \nNamibia\n \nIn Licence 0010, offshore Namibia, where Neptune Petroleum (Namibia) Limited has a 15% carried interest, interpretation of the 3-D seismic is well advanced with initial conclusions delivered from all of the specialist consultants. Clear structural closure, sustained reservoir thickness and direct hydrocarbon indicators - AVO anomalies and pock marks - have been confirmed at the main Maastrichtian prospect level. Additional potential is confirmed at the Palaeocene horizon (defined as a lead in the Competent Persons Report (CPR)) but also at two other formations deeper than the Maastrichtian. The very large structural closures are confirmed and, therefore, the indicated additional reservoir horizons substantially increase the resource upside potential.\n \nArcadia Petroleum Limited, ope...