Business
Uganda 2D seismic commences
Uganda 2D seismic commences.
About this update from Tower Resources Plc
[{"type":"text","content":"\n Tower Resources PLC\n07 December 2007\n\n\nPRESS RELEASE\n7 December 2007\n Tower Resources Plc\n (the 'Company')\n\n Uganda - Seismic Operations commence\n\nTower Resources plc is pleased to announce the commencement of an approximately\n300 kilometer 2-D seismic exploration programme in Exploration Area 5 ('EA 5')\nin Uganda.\n\nThe seismic will be shot by IMC Geophysics International Limited over a\nsedimentary sequence with prospective structures in the Albertine Graben system\nthat was identified by a regional gravity survey. The data is expected to be\nprocessed and interpreted by the end of Q1 2008.\n\nThe seismic is being shot under the terms of an agreement between Tower and Orca\nExploration announced on 28 August 2007. On receipt of the fully interpreted\nseismic, Orca Exploration has the right to acquire a 50% working licence\ninterest in EA 5 in return for funding 83.33% of two exploration wells.\n\nPeter Kingston, Tower Resources' Executive Chairman, commented:\n\n'Uganda has seen successful exploration activity in the Exploration Areas to the\nsouth of EA5 and I am delighted that we are now physically collecting seismic\ndata over our Exploration Area. In anticipation of positive results, together\nwith Orca Exploration, we have commenced the search for a suitable rig to drill\ntwo exploration wells during 2008.'\n\n\nFor further information, please contact:\n\nTower Resources plc www.towerresources.co.uk\nPeter Kingston, Chairman 07802 804852\n\nBlue Oar Securities\nRhodri Cruwys 020 7448 4400\n\nAquila Financial Limited www.aquila-financial.com\nPeter Reilly 020 7202 2600\nYvonne Fraser\n\n\nNotes to Editors\n\nTower Resources Plc is an AIM-listed, independent oil and gas exploration\ncompany based in London.\n\nThe company is focused on sub-Saharan Africa, holding exploration licences in\nNamibia and Uganda through its two operating subsidiaries Neptune Petroleum \n(Namibia) Ltd and Neptune Petroleum (Uganda) Ltd.\n\nThe company's assets include; blocks 1910A, 1911 and 2011A offshore Namibia and\nonshore block 5 in Northern Uganda.\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2568,"tagName":"div"}]