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Tower Resources is an AIM-listed, London-based, independent oil and gas exploration company with a regional focus on sub-Saharan Africa. The company held 100 per cent licences in Namibia and Uganda, parts of which it has farmed out, through its two operating subsidiaries, Neptune Petroleum (Namibia) and Neptune Petroleum (Uganda).

Uganda is one of the exploration hotspots at the moment and Tower will be hoping that the current run of success experienced by other in-country explorers continues into its acreage. Namibia is less advanced but on the basis of technical work done so far some very large structures will be targeted for further investigation.


Onshore Block EA5 in northern Uganda extends over 6,000 sq kms and is at the northern end of the Albertine Graben. A regional gravity and magnetic survey has identified that Block EA5 contains one of the five identified sedimentary depocentres (or basins) within the Albertine Graben. EA5 contains the Rhino Camp Basin.


Tower believes that some considerable encouragement can be drawn from the significant discoveries, drilled by Hardman (which was taken over by Tullow) in Block 2, some 150 km to the south of Block 5 and the significant Kingfisher discovery further south in Block 3. Further appraisal of these discoveries is ongoing but they are multi-million barrel finds.


Furthermore, 200 km to the north of Block 5, the tertiary shales of the Muglad rift basin of Sudan have been shown to be a major source of oil in the Unity and Heglig fields. It would seem unlikely that the Rhino Camp Basin would, therefore, be devoid of potential source rocks.


There is considerable anecdotal evidence to support the seepage of oil to surface within the Licence and surveys are continuing to establish the physical evidence of this.


Tower is well advanced with its plans for this asset. An agreement with US group Orca Exploration provides for Orca to repay 83.33 per cent of past costs and to fund 83.33 per cent of future costs related to current seismic. Their share of seismic costs is capped at US$5 million based on the current planned size of the programme. Orca then has an option to participate in the two well commitment programme, becoming a 50 per cent licensee on making that commitment, providing 83.33 per cent of the cost of the two wells. There are agreed caps on Orcas share of the well funding - US$10 million for drilling costs and US$5 million for any testing operations.


The programme is to record 285 kilometres of 2D seismic (this is shallow, tertiary territory). Once prospective targets are identified it is planned to drill two wells in 2008.


In Namibia, Tower had 100 per cent of Blocks 1910A, 1911 and 2011A, offshore Namibia, which covers a vast area of approximately 22,000 sq kms in water depths ranging from 200 to 3,000 metres. This amounts to one block and two contiguous part blocks. This is real frontier territory and Towers plans are less advanced here than in Uganda.


These blocks are little drilled, although Norsk Hydro drilled two wells, both of which turned out to be dry holes. Tower has been looking elsewhere in the north of the licence.


Tower has concluded a farm out agreement with Arcadia Petroleum. Under the terms of the farm out agreement Tower retains a 15 per cent stake carried through a programme of 2D and 3D seismic and two wells. In the event that the farminee, or any assignee of their rights and obligations, opted not to pursue the full programme, the full licence interest would revert to Tower.


So far a 700 km programme of 2D seismic has been completed and will now be subject to AVO analysis. It is hoped that a further 3D seismic programme will be completed by the end of 2008. The structures involved are huge, possibly containing multi tcf prospects.

Tower Resources plc

For immediate release: 18 July, 2006

Tower Resources plc

Update on Company Activities

Tower Resources plc ('Tower' or 'the Company') (AIM code: TRP), the AIM-listed
independent oil and gas exploration company with exploration licences in Uganda
and Namibia, is pleased to provide an update on the Company's African projects.
These assets were acquired by Tower in a merger with Neptune Petroleum Limited
approved by shareholders on 16 January, 2006. We are pleased to report that good
progress has been made with technical evaluation work in both Uganda and
Namibia, enhancing the potential of both assets.

In Uganda, a detailed interpretation of gravity-magnetics ('G-M') survey data
previously recorded across Tower's Block EA5 has been completed, along with a
geo-chemical study to assess basin maturity. The results are very encouraging,
indicating sediments up to 3.5 km thick within the graben area of EA5, which
should be mature for hydrocarbon generation below a depth of approximately 2,000
metres. Additional G-M data is planned to be acquired during the forthcoming dry
season (September-October) to supplement the existing database. However the
results to date have offered sufficient confidence for farmout activities to
begin.

The Board of Tower believe that conditions for oil generation and entrapment in
permeable reservoirs in Block 5 are similar to those in Block 2, where the
recently-publicised oil discoveries of the Hardman-Tullow oil consortium are
located, about 100 miles (160 km) south-west of Tower's Block 5 along the same
Ugandan rift trend. Testing of the Waraga-1 discovery well in Block 2 has just
been completed with the well producing at cumulative rates in excess of 12,000
bopd over three intervals.

In Namibia, detailed interpretation of almost 10,000 km of purchased 2D seismic
data across the licence area (Blocks 1910A, 1911 and 2011A) has been completed.
A geo-chemical study to assess source rock maturity and a sea surface oil seeps
survey, by satellite imaging, are nearing completion. The seismic interpretation
results are most encouraging identifying numerous leads in several geological
settings. Many of the structures identified are of commercial significance with
a few structures capable of containing prospective resources ranging in the
order of 1,000 mmb of recoverable oil, if hydrocarbons are present. More work is
required to assess the exploration risk of the various leads including detailed
seismic reprocessing and analysis to more rigorously investigate the
significance of hydrocarbon indicators highlighted by the interpretation to
date. Farm-out initiatives will be undertaken once this work is complete.

Further updates will be provided to the market as the farmout campaigns in
Uganda and Namibia proceed.

An updated version of Tower's investor presentation will be posted on the
Company's website
www.towerresources.co.uk

Moving up easily on relatively small volumes.

2 x approx 7% in 3 days trading.

Keep peddling SWW.

I think it was said correctly at the top, about the fledgling oiler.

Its only got 2 blocks next to a used site, using old information that it bought.

Does not instill confidence.

That old information was the same information that Hardman Heritage and Energy Africa(Tullow), had.

Okay so the oil found so far is away from any useful commercialisation in Uganda and will require pipe lines or a small refinery.

Of course if there are further finds in Lake Alberrt and Kinfgfisher, and then should Tower be lucky enough to gain a farm in partner, and should they then be lucky enough to drill any targets and find anything, the value of holding from a small punt may well be realised.

I still view this as a highly speculative punt, and that's all.

I have written off many times over what I have invested as a punt here and if the price collapses, what have I lost?

Holding 20k shares from 1.95p.

Not a lot!

Email form Heritage

"Attention Business Editors:

Heritage Oil spuds Kingfisher-1 exploration well in Uganda


/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

CALGARY, Aug. 17 /CNW/ - Heritage Oil Corporation (TSX: HOC) today
announced that it has commenced drilling the Kingfisher-1 exploration well in
Block 3A, Uganda.
As reported last month, the Kingfisher-1 vertical well will be the first
in Block 3A's initial program. The well will target a large structural high
that is expressed at surface on the lake-bed and has been defined by two 2D
seismic surveys. Kingfisher-1 will be drilled from the lakeshore to a
vertical/total depth of up to 4,000 metres, targeting multiple pay zones. The
well should take approximately 75 days to reach its total depth. Heritage is
the operator of Block 3A with a 50% interest, while Tullow Oil owns the
remaining 50%.
Exploration prospects for drilling in the Lake Albert area have improved
substantially following the recent completion by Hardman Resources of the
Waraga-1 well test in Block 2, which lies immediately north of Heritage's
permit. Hardman Resources (operator) and its joint venture partner, Tullow
Oil, reported in July 2006 that the well test produced an aggregate maximum
flow rate of 12,050 bpd from three zones. The oil quality of 8,400 bpd was
33.8 degrees API, while the remaining 3,650 bpd was 18.6 degrees API.
Heritage's Chairman and CEO, Micael Gulbenkian, commented: "Our
preliminary work in the Lake Albert area suggests that we are exploring in a
promising area and Hardman's recent success there reinforces our own
conclusions. We look forward to successful results from Kingfisher-1."

Interim Results for the Six Months Ended 30 June 2006

20 September 2006

Tower Resources plc ('Tower' or 'the Company')

Tower (AIM:TRP), an international oil and gas exploration company, headquartered
in London, traded on the London Stock Exchange Alternative Investment Market,
today announces its Interim Results for the six months ended 30 June 2006.

Tower Resources has continued to make good progress with its exploration
evaluation activities in both Uganda and Namibia.

Recent oil discoveries have established Uganda as a new oil province

The results of technical work, including gravity/magnetic mapping and
geochemical analysis, have been very positive, supporting the Company's
prediction that the prospective region of Block 5 contains mature source rocks
and significant structural closures. The recent discoveries by Hardman and
Tullow in Block 2 100 miles to the south has provided added encouragement.

Evaluation work on Namibian interests has confirmed commercial potential


A major interpretation study of seismic data over the Company's Namibian
offshore licence has been completed showing multiple structures of potentially
commercial significance. Geochemical analysis has confirmed the presence of a
number of potentially mature source rocks. More advanced seismic investigation
is being undertaken and an intensive farm out programme should be ready to start
within the next two months.

Russell Langusch, Executive Director, commented: Tower is making good progress
in evaluating its two African licences and is greatly encouraged by the positive
results of evaluation work to date. We look forward to introducing partners to
assist in meeting forward operational commitment in the coming months.

Ugandas Energy Industry - A Look from the Inside

"Uganda is brimming with delight since the recent petroleum discoveries in the
country. Fred Kabagambe-Kaliisa, Permanent Secretary of the Ministry of
Energy and Mineral Development, agreed to talk with Petroleum Africa on
the current status and future prospects of the countrys energy sector.

"........PA: What do you feel is the most prospective acreage on
the licenses signed?

Kaliisa: The government believes that all the acreage in the
Albertine Graben is probably equally prospective. The
difference lies in the fact that some licenses have had more
exploration work undertaken in them than others and therefore
the data distribution is not even.

PA: What stage of exploration is Neptune Petroleum (Tower Resorces)at in
the Rhino Camp Basin?

Kaliisa: Neptune Petroleum, in Exploration Area 5 (Rhino
Camp Basin) has been reprocessing and interpreting existing
gravity and magnetic data. The company is planning to
acquire more gravity and magnetic data to infill existing
data gaps before deciding on how to plan the seismic grid...."

http://www.petroleumafrica.com/admin/mag/Feature%20Uganda.pdf?PHPSESSID=8dd1943c876de3d6315dc51f2719fbeb#search=%22Neptune%20Petroleum%22
At least they are not idle, some way to go yet though.

_______________________________________________________________________________________

Power point production on Namibia Licenses.

http://www.internationalpavilion.com/Houston_Theatre_pres_06/Namibia_06.ppt

Save to view it.

Power point viewer if you dont have Powerpoint.

http://www.microsoft.com/downloads/details.aspx?FamilyID=428d5727-43ab-4f24-90b7-a94784af71a4&displaylang=en

seawall

i have admired the beauty of this little fish for while and i agree that this is a top banana. thanks for your eagle eye recognition. tomorrow i will be amassing first thing in the morning. best luck

why is the spread so wide?

Dont know.

I have found that the sp buys are not at the top of the spread, and sells are not at the bottom.

As this is LTBH it does not matter to me.

seawall

thanks for the reply. yes for LTBH it does not matter. i would like to get in at 2p.
This is a another juicy fish gearing to fly. wish myself best luck to get in at 2p
best luck

2p looks like is behind us now.

Offer at 2.75p

Not too many shares in circulation you see.

Any positve drilling news from Uganda will see this fly imo.

Watch out for Kingfisher being drilled byy Heritage, due to hit target depth week commencing 30th October.

Also the Ugandan Government are about to go into a new license round for the Lake Edward and Gerge areas.

A new JVP is being set up, and the Companies approached the Government to do this.

All bodes well, but holders will need patience.

have to get in before it is too late. fish can fly

TOWER RESOURCES PLC

INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2006

CHAIRMAN'S STATEMENT
Dear Shareholder,
Your Company continues to make good progress with its exploration evaluation
activities in both Uganda and Namibia. The Board is greatly encouraged with the
largely positive developments for both of its licences and remains confident
that future progress will provide growth in shareholder value.

The continued success of drilling and testing activities by Hardman and Tullow
in Ugandan Block 2 to the south of the Company's 100% owned Block 5 is very
encouraging and has created considerable industry interest in the area. The
signature of a cease fire between the Ugandan Government and the Lord's
Resistance Army also provides welcome encouragement that the long running
security risks to oil and gas operations in the northern areas of Uganda may
become significantly reduced. While this risk is manageable, it has been a d
isincentive to some companies when considering whether Uganda was an attractive
place to invest. Farm out discussions can now be intensified and contact is
being made with a wide range of potential partners

this is a part of the statement.

STRUCTURAL ANALYSIS OF THE ALBERTINE GRABEN WESTERN UGANDA

Abeinomugisha Dozith and Frank Mugisha.
Petroleum Exploration and Production Department, P. O. Box 9 Entebbe, Uganda
(e mail: pepdebb@africaonline.co.ug).
Abstract

The Albertine graben is the northern termination of the western arm of the East
African Rift System (EARS). Rifting was initiated during the late Oligocene or Early
Miocene and is essentially non magmatic. The earliest dated sediments from
Semliki basin indicate an age of Early Miocene.
Structurally, the Albertine graben can be divided into three domains: the
southern domain, the central domain and the northern domain. The general
structural trends are NE SW and an almost N S trend probably following
the pre existing basement fabric.
Individual faults were initially strongly segmented and linked by relay ramp
structures. With increased extension, some of the faults became linked by
breaching relay ramps with the development of kink geometries and hard linked
transfer faults. There is evidence of both hard and soft linkages in the Albertine
graben. Soft linkages occur along strike in form of accommodation zones,
separating individual basins while relay ramps occur along the fault segments




Though the Albertine graben is dominantly in an extensional regime, geological
and geophysical data, indicate lateral (strike slip) displacements especially along
transfer zones.
2D seismic data acquired Albertine indicates vertically segmented faulted systems.
Kink, step and overlapping fault geometries can be observed in the data. Faults
are planar to semi listric and at least two phases of rifting can be interpreted.
Each of the two phases is followed by an episode of compression.
The available geological and geophysical data suggest that the Albertine Graben
has undergone substantial tectonic movements and huge sediments have been
deposited in a fluvial deltaic and lacustrine environments. The first phase of
rifting commenced in Late Oligocene or Early Miocene creating grabens and half
grabens in which the first sediments were deposited. The Kisegi and Kasande
Formations were deposited during the first phase of rifting. After the first phase,
there was a short episode of compression during the mid Miocene, which inverted
the earlier extensional faults. The Kakara and the Oluka Formations were
deposited in a period of general sag of the basin. The second phase of rifting
occurred during Pliocene to Pleistocene depositing the Nyaburogo and the
Nyakabingo Formations. This was again followed by a short episode of
compression during the Pleistocene. The Rwenzori mountain ranges in the
Southern domain, is a result of isostatic compensation by the sediment masses
accumulated in the rift.
Oil seeps, high organic rich source rocks and good quality reservoir rocks are
some of the indicators of the hydrocarbon potential of the Albertine graben.

From my very limited knowledge, I would say from the map, Tower have some pretty good chances of getting a good result from their license.

Tower said it believes that conditions for oil generation and entrapment in permeable reservoirs in Block 5 are similar to those in Block 2, where the recently-publicised oil discoveries of the Hardman-Tullow oil consortium are located, about 100 miles south-west of Tower's Block 5 along the same Ugandan rift trend. Testing of that well has just been completed with the well producing at cumulative rates in excess of 12,000 bopd over three intervals.

good neighbours become good friends

I would like someone with a bit more knowledge than me look this over, but I believe there isplenty of potential for traps given the board outline of faults shown in the above map.

We know that the Albertine Graben contains hydrocarbons.

Interesting pay this one.

Not much from the Compnay, but plenty of information to find.

Will be researching more but i am more into key points instead of details. i think others can handle details better. however it will not be long before the party begins here. fingers X

Attention Business Editors:

Heritage Oil to production test Kingfisher-1 exploration well in Uganda


/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
CALGARY, Oct. 10 /CNW/ - Heritage Oil Corporation (TSX: HOC) today announced that it is preparing to production test the Kingfisher-1 exploration well in Block 3A, Uganda. The Company is planning to test up to four intervals with a total net pay of 37 metres in a stacked sand and shale sequence that is typical of the basin. In order to do so drilling operations have been temporarily suspended.
The well has been drilled to a depth of 2,125 metres, and wireline logs and formation pressure testing and sampling have evidenced encouraging indications of hydrocarbons. Heritage anticipates that it will commence testing of the Kingfisher-1 well within a month and the testing program is scheduled to take up to three weeks.
The well encountered hydrocarbons within a section above the primary objective. Drilling to the primary objective is planned to recommence after this initial well testing operation has been completed. It is estimated that it could take a further 60 days to reach target depth of between 3,000 and 4,000 metres.
Further details about Heritage's exploration activities in Uganda will be announced when the results of the initial test program are available.
Heritage is the Operator of Block 3A in Uganda with a 50% equity in the license, with Tullow Oil holding the remaining 50% interest.

The find at Kingfisher is significant for Uganda

A 37 m column not expected but some 1500feet above the td.

No advice given make up your own mind and do your own research.

And, above all;

Be careful out there!

This looks quite an interesting oil play.

Sorry this is a day late and yes I think so too.

Attention Business Editors:

Heritage Oil's Kingfisher-1 Well in Uganda Test Produces 4,120 BOPD


/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

CALGARY, Nov. 6 /CNW/ - Heritage Oil Corporation (TSX: HOC) today
announced that the upper zone of the Kingfisher-1 well in Block 3A, Uganda was
tested (DST No. 2) at a stabilized flow rate of c. 4,120 barrels of oil per
day (bopd) through a fixed one inch choke at a flowing well head pressure of
221 psia. The oil was light (c. 30(degrees) API) and sweet with a low gas-oil
ratio and some associated wax. The test rate was constrained by the available
completion and test facilities, and the flow data indicated that when equipped
for production, the well should be capable of flowing at stable rates of
approximately 5,600 bopd. The flow data from the test indicated an extremely
high permeability of over 2,000 milliDarcies, which partly explains why the
test was constrained.
Two firm production tests, DST No. 1 and DST No. 2, were undertaken. DST
No. 1 did not flow hydrocarbons to surface. DST No. 2 tested two zones
totalling 10 metres over the interval from 1,783 to 1,795 metres which flowed
at a stable rate of c. 4,120 bopd. Following interpretation of the data from
these two tests a decision was taken not to proceed with any further testing.
The tests represented a secondary exploration objective for the well, which
will now be sidetracked and drilling will continue to the deeper primary
objectives. It could take a further 45 to 60 days to reach target depth of
between 3,000 and 4,000 metres. The test equipment will remain on location to
test the primary target.
The Kingfisher prospect is a very large structural high that is expressed
at surface on the bed of Lake Albert. Seismic data indicate the Kingfisher
prospect has an areal extent of up to c. 70 square kilometres, although the
Kingfisher-1 well will only investigate a limited part of such a large
structure.
Tony Buckingham, Heritage's CEO stated "The Albert Basin now looks
increasingly like it has the elements to make it a world-class petroleum
basin. The flow rates, even constrained by available completion and test
facilities, far exceeded our expectations. We are delighted with the test
results that have been produced from an upper zone which is not the primary
target of the well. This discovery proves there is a working hydrocarbon
system in Block 3A significantly reducing the exploration risk of the other
high impact prospects that have been identified throughout our licenses in the
Albert Basin. We look forward to accelerating the work programs in the basin."
Heritage is the Operator of Blocks 3A and 1 in Uganda with a 50% equity
in the licenses, with Tullow Oil holding the remaining 50% interests

Nice find !

mm you must have known about this before |I posted?

In any event, I am part of the 100k Club for TRP.

I don't expect instant results,l but \i do expect to multi bag.

As always dyor etc.

Just reading up and tieing your above post with this news

LONDON (AFX) - Tower Resources PLC said technical evaluations on assets it acquired in Uganda and Namibia, after a merger with Neptune Petroleum Ltd in January, have made "good progress".

In Uganda, detailed results from a gravity-magnetics survey data on Tower's Block EA5 are sufficient for farmout activities to begin.

Tower said it believes that conditions for oil generation and entrapment in permeable reservoirs in Block 5 are similar to those in Block 2, where the recently-publicised oil discoveries of the Hardman-Tullow oil consortium are located, about 100 miles south-west of Tower's Block 5 along the same Ugandan rift trend. Testing of that well has just been completed with the well producing at cumulative rates in excess of 12,000 bopd over three intervals.

In Namibia, detailed interpretation of almost 10,000 km of purchased 2D seismic data across the licence area (Blocks 1910A, 1911 and 2011A) has been completed. Results are most encouraging, identifying numerous leads in several geological settings. Many of the structures identified are of commercial significance, it said, although more work is required to assess the exploration risk of the various leads. Farm-out initiatives will be undertaken once this work is complete, it said.

Further updates will be provided to the market as the farmout campaigns in Uganda and Namibia proceed, it said.

Thanks to;


robs12 - 8 Nov'06 - 15:04 - 592 of 592


Don't want to put any noses out of joint (;-)), so will post here too..nothing new really, just my background research.

Ive done a bit more digging on Tower Resources (sorry, make take a little time to follow all the links..).
Please read it as a shameless ramp & since I like what I see (as a punt) & since I last posted I have become a small holder (for the next couple of years or so I expect)
Ive tried to pull together some info about prospects close to or adjacent to TRPs blocksnot that that in itself is worth anything.

Uganda:

What Tower has to say about the Uganda block:

http://www.towerresources.co.uk/index.php?page=Uganda

For a little associated info Ive dragged from the net.

To the North

(Muglad is approx 200km North of Towers block, according to Tower, though it looks a little more than that on the map below).

Probably the best map Ive found of the Sudan basins specifically the Muglad - here:

http://www.sudantribune.com/spip.php?article184

& some detailed notes (courtesy of Lundin) here:

http://www.lundin-petroleum.com/eng/operation_sudan.php#Geological

Interesting to note that In the Muglad basin the success ratio of exploration wells is in excess of 50%.

An alternative map showing central African basins:

http://www.searchanddiscovery.net/documents/2005/idris/images/02.htm

White Nile (dare I mention them & from what I understand the rights are still disputed by Total?) latest press release (7/11-i.e. today) reference block Ba (The Jonglei, furthest South in Sudan on the first map above):

http://www.advfn.com/p.php?pid=nmona&article=17564457

Over 500 km of high-density, 2D seismic data has been interpreted from the prospective Jonglei sub-basin of the Muglad Basin in the western part of Block Ba in South Sudan. Several prospects have been identified in the 1800 sq km project area, including one large structure of over 50 sq km, which has been high-graded as an immediate drilling target.
A drilling rig is now being procured and the first exploration well is planned to spud in the first half of 2007.

So that may bring some geographically closer news from the North.

To the South

I guess you are all well aware of the recent Tullow (Block 1, 2 & 3A immediately to the South of Towers Block 5), Hardman & Heritage results already. If not:

http://www.tullowoil.com/operations/africa/uganda.phtml
http://www.tullowoil.com/operations/africa/drc.phtml
http://www.heritageoilcorp.com/uganda.htm
http://www.hdr.com.au/projects_uganda.asp

So theres oil to the North & South& Tower obviously hope theres some inbetween too ;-)

Namibia:

The block is to the North, almost bordering southern Angola.
Note two dry wells already drilled by Norsk Hydro within the acreage.

What Tower has to say about the Namibia block:

http://www.towerresources.co.uk/index.php?page=Namibia

An (rather brief) overview of Namibia O&G:

http://www.mbendi.co.za/indy/oilg/ogus/af/na/p0005.htm

From the Sonangol website (Angolan national oil co)
The southern coastal region of Angola remains unexplored after the failure of blocks 9, 21, 22 and 25 which are located offshore of southern Luanda. Drilling has also been unsuccessful off the coast of Namibia, Angolas southern neighbor, which has further discouraged exploration.
Engineers in Sonangols geological department insist, however, that they want to begin a comprehensive survey of blocks in the Namibe basin, which they believe may yet produce surprises.

Doesnt appear to have been much interest in the blocks available.

So doesnt look much of a banker ;-) IMHO....then again.

Energulf have a stake in block 1711, just to the North of Towers block in Namibia, which apparently
contains the most attractive undrilled structure I have seen in over 40 years of exploring for Oil & Gas internationally, according to their senior advisor for African Exploration.

A prospective resource report (i.e. take with a pinch of salt?) for the 1711 block here:

http://www.energulf.com/news/09_08_06.pdf

The Russians (Sintezneftegaz) have a 70% stake & are committed to drilling a first exploration well on 1711 by March 2008, which I guess may have some repercussions depending on the news.

Some snippets from the last Tower Resources Chairmans statement (20 September):
considerable industry interest in the area.
The signature of a cease fire between the Ugandan Government and the Lords Resistance Army also provides welcome encouragement that the long running security risks to oil and gas operations in the northern areas of Uganda may become significantly reduced
Farm out discussions can now be intensified and contact is being made with a wide range of potential partners.
the Board is confident that a farm out on attractive terms can be achieved.
The results of these technical evaluations are currently being integrated into a full exploration potential assessment and an intensive farm out programme should be ready to start within the next two months.
The next six months should see progress with the introduction of funding partners to both licences, after which the Board may consider new ventures to broaden the Companys portfolio.

Full details here:
http://www.towerresources.co.uk/uploads/Tower_Resources_plc_interim_results_30June2006.pdf

So looks like they are hopeful of farming out in the nearish future.

Apologies for repeating myself from a previous thread, but the directors have some pedigree:

Peter Kingston from Soco, Taylor & Blakey ex founders of Dana & now GBP, along with Savage from GBP so they would appear to know about the business & pulling deals together.

As at January 2006, Taylor, Blakey & Savage own approx 46% of the shares (as a result of selling Neptune (for 200m shares, no cash)) to Tower. Rab = 14.5%, & several other (>3%) shareholders add up to another ~ 15%, so in rough numbers, 75% of the shares are tightly held.

They are currently capitalized at approx 8m = 429m shares in issue at ~2p a throw.
Perhaps a punt for the long term, with potentially interesting acreage, but a farm in deal (or two) in the short term should see a little excitement? A snip at 8m?

That's a darn fine bit of cobbling together by robs12.

I see advfn is attracting more names.

The trades today seem all buys according to what some are saying over there.

I would guess upping the bid is to attract bored sellers but I am guessing.

It's certainly starting to attract interest and the research being put in justifies it too.

This seems to be catching on now.

Good trading today.

Yes certainly getting more interesting.

tommyttrades - 10 Nov'06 - 10:29 - 635 of 638


Reckon the oil pipeline will be extended from Mombasa up to the lake area eventually..All we need is a decent find now.
Guarantee the Co. to undertake construction will not be from the West, more than likely Chinese.


NAIROBI, Nov. 9 (Xinhua) -- Kenya's officials said here on Thursday that plans to extend a pipeline from its coastal city of Mombasa to the Ugandan capital of Kampala was on course and was expected to take 18 months or less once the tenders were awarded.

Absalom Kosgei, Chief Technical Manager at the Kenya Pipeline Company (KPC) told reporters here that despite some hiccups in the tendering system, plans are still underway to connect neighboring Uganda to the vast Mombasa- Nairobi-Eldoret oil pipeline.

"The tenders have been done. They (Kenya, Uganda) are in the process of selecting the investor," Kosgei told journalists.

He said the Joint Coordinating Commission, set up by the energy ministries of the two East African partners, was working on the final details with KPC acting as the secretariat of the joint pipeline extension which would add an addition 340-km stretch.

KPC and its Ugandan equivalent, the Uganda Pipeline Company, are the main investment agencies in the 100- million-dollar project.

Kenyan and Ugandan officials held a pre-bidders conference in Kampala, Uganda late last year, during which 10 firms presented their bids for the project.

The Rift seems awash with oil.

100% sucess with the drill so far. 8/8

(Ramp intended).

News release


Tullow Oil plc - Nzizi-1 Exploration Well Update


13 November 2006 -Hardman Resources, the operator of the Nzizi-1 exploration
well in Uganda, in which Tullow Oil plc (Tullow) is a 50% partner, today issued
the following press release.


UGANDA: Exploration Area 2 Nzizi-1 Exploration/Appraisal Well


Since Hardman's last report, Nzizi-1 has been drilled to a total depth of 1,065
metres in a 6 3/4' hole. As at midnight on 13 November, wireline logs were
being run after having encountered oil shows across the target intervals.


Nzizi-1 is testing a structure up-dip of the Mputa discovery and was designed to
evaluate the equivalent oil bearing reservoirs intersected in the Mputa
structure. Nzizi-1 is situated approximately 5.5 kilometres to the southwest of
Mputa-2 appraisal well.

I am thinking of starting a "Whatever happened to........ thread.

georgetrio is missing presumed on holiday,

daves dazzlers not seen for a year. (Name change?)

http://www.investegate.co.uk/Article.aspx?id=200612050942402494N

"............Russell Langusch has stepped down as an Executive Director of the Company. Peter Kingston, currently non-executive Chairman has been appointed Executive Chairman with immediate effect................

Tower Resources' Executive Chairman, Peter Kingston, commented:

'We are extremely grateful to Russell for his time and assistance during the formative stages of Tower Resources. We wish him well with his other business interests.'

Russell Langusch said:

'Given the changing management requirements of Tower as the Company adopts a more operational role in Uganda and the ongoing demands of my position at Elixir Petroleum, I feel that I am unable to commit my time adequately between these two directorships.'"

I assume then, we are about to get some action over the next few months weeks or days?

It looks that wat SW. Buys going through today at 2.1p

Positive sign when someone buys a place on the board.

Hi mm.

I had seen it but did not have time to react today in detail.

Yes a very positve sign.

Things will move now.

The structure of the Company looks like a mini SOCO imo.

Good to be in these early.

Borrowed from tmf

Notice of EGM - share placement to get things moving.

".........so as to be able to optimise commercial terms with potential farm-in partners and to retain substantial interests where desirable. Farm-out activities have been underway for the Uganda Licence, Block EA5, for some months and there has been significant interest and commercial terms have been discussed with a small number of companies. The farm-out process has only recently begun for the Namibia Licence but serious interest has already been attracted................"

"UGANDA thinks that it and neighboring countries have discovered oil deposits large enough to rival those of some of the world's greatest petroleum producers, according to Uganda's Energy and Mineral Development Minister Daudi Migereko......"

The item is a good overview.

http://www.nypost.com/seven/01092007/business/oil_find_in_uganda_may_change_game_business_john_crudele.htm

Pinched from O&G board - ManSiarad was the poster.

Eye eye............

Whats all this then?

Hmmm............

Hopeful sort of chap the MOO chap!

Thinks Uganda could be the next Saudi Arabia.

No way, they are land locked for a start and ther are too few Arabs.

Kingfisher finds more oil, still a fair way to go to t/d

Could be helpful!

http://www.newvision.co.ug/D/8/220/543585

Is this heading for a breakout ?

No.

Too early and not enough volume.

Wait till after they finish Kingfisher and then see what occurs, most likely get a rise then.

Anything sustained will have to wait till they have done the 3d stuff mid summer and then interpreted it.

But now it's at an all time high.

News is due on farmouts..........any time.

Looks like we may have a chart breakout to contend with.

Well, yesterday's high held and today we are up again.

Could well be something in the wind.

Looks like the breakout is confirmed today.

Looks like the breakout is confirmed today.

I agree, breakout confirmed.

Nice if it can hold.

Wait and see time

Sorry, I won't do that again.

8-)

Update on Company Activities and Placing

Uganda
o 2D Seismic survey to commence in July with a view to drilling in 2008
o Other Operators reporting exploration success

Namibia
o Reprocessed data highlighted potential for commercial gas reserves
o 2D Seismic survey in planning for late 2007

Placing
o 500,000 raised in Placing of New Ordinary Shares


AFX


LONDON (AFX) - Tower Resources said that 'good progress' has been made with operational planning at its Uganda project and anticipates drilling a well there in 2008, while in Namibia reprocessed data has highlighted the potential for commercial gas reserves.

In an update, the firm also announced that it has raised a further 500,000 stg through the placing of 25 mln shares, after it raised 1.04 mln stg in a placing in December.

The funds will be used for the development of its existing oil and gas assets, the expansion of its oil and gas portfolio and for general working capital purposes, said Tower.

The firm said in Uganda surveys are currently underway to investigate the possibility of surface oil seeps. A contract has been signed with IMC Geophysical International Ltd under which IMC will acquire 250 kilometres of seismic data, estimated to begin in July.

The intention is to complete the interpretation of this data and to begin drilling a well early in 2008, planning for which will begin soon, added Tower.

Other operators in licences to the south of Block 5, such as Tullow, have continued to have success, pointed out Tower. These programmes, when added to Tower's own activities, will amount to 'a significant assessment of the potential of the Albertine Graben', increasing the 'likelihood of proving up sufficient oil reserves to support a pipeline from the operational areas', it said.

In Namibia, meanwhile, studies have confirmed that three out of four potential source rocks are likely to be mature with significant areas at peak maturity, the company said.

'Analyses have highlighted the potential for commercial gas reserves in the northern part of the licence, particularly in a very large structure to the west of, but adjacent to the deepest 'kitchen' area of the Dolphin Graben.

'The immediate exploration programme, including a 2-D seismic survey later this year, will be directed at investigating the potential of this structure,' it added.

Great trunaround in the share price today, was down 30% because of the placing, now 8% plus up!

Oil Voice

And it moves on with Today news on Board Changes.

http://www.investegate.co.uk/Article.aspx?id=200702091022490051R

Out = Russell Langusch, so as to focus on ELP as I understand it.

In = Jeremy Asher, (Agile Energy)

".....The Company also announce that following his appointment as Executive Chairman Peter Kingston has been paid a supplementary fee of 10,000, which has been satisfied by the issue of 320,000 new ordinary shares at 3.125p per ordinary share, the closing mid market price as at 8 February 2006. Mr Kingston has also been granted options over a total of 1,000,000 shares at 3.125p per share......"

Shares in issue = "......Following the admission of these, the total number of voting rights in the Company will be 529,653,333......."

A lot happening lately and the sp has responded very well to the placings since the beginning of the year.

This is becoming a company in a hurry imo.

www.allAfrica.com - Uganda: Tower Group Begins Oil Exploration

Tullow Oil PLC
01 March 2007

News release

Tullow Oil Plc - Kingfisher-1 Well Test Results


1 March 2007 - Heritage Oil, the operator of the Kingfisher-1 exploration well
in Uganda, in which Tullow Oil plc ('Tullow') is a 50% partner, today issued the
following press release:


Calgary, Alberta, March 1, 2007 - Heritage Oil Corporation (TSX: HOC) today
announced final results from the successful testing of all three intervals in
the deeper horizon of the Kingfisher-1A well in Block 3A, Uganda. The three
intervals tested, from between 2,260m to 2,367m, had a total net productive
thickness of 44 metres and produced at a cumulative maximum flow rate of 9,773
bopd. Additionally, the test of the shallower interval reported in November 2006
produced at a rate of 4,120 bopd, resulting in an overall cumulative maximum
flow rate of 13,893 bopd from the Kingfisher well. The tests may be summarised
as follows:

Depth Interval thickness Production Oil quality Flowing well head
pressure
(metres) (metres) (bopd) (API) (psig)
Deeper intervals
2,344 21 2,965 32 240
2,290 12 2,254 31 157
2,260 11 4,554 32 360
44 9,773
Shallower interval*
1,783 10 4,120 30 221
Total 54 13,893



* Test undertaken in November 2006


The oil is good quality light (between 30degrees and 32degrees API) and sweet
with a low gas-oil ratio and some associated wax. All of the above production
flow rates were conducted through a one inch choke. The reservoirs are
sandstones which have high permeability up to 2,300 milliDarcies.



The Kingfisher prospect is a very large structural high that is expressed at
surface on the bed of Lake Albert. Seismic data indicates an areal extent of up
to 70 square kilometres for the Kingfisher prospect. This first exploration well
only investigated a limited part of this large structure and did not reach the
deepest objectives.



Heritage is operator of and holds a 50% interest in Blocks 3A and 1 in Uganda,
and has a 39.5% interest in Blocks 1 and 2 in the Democratic Republic of Congo.
The total gross size of these holdings is in excess of 12,000 square kilometres
and they occupy a very substantial part of the Albert Basin. Heritage's partner
in these blocks is Tullow Oil. A map of the licenses, and the potential targets
in Block 3A, is available on Heritage's website (www.heritageoilcorp.com).



Looking forward to future Uganda work programs, Heritage has contracted to
acquire two seismic surveys this year; a circa 325 square kilometre 3D program
over the Kingfisher and Pelican structures in Block 3A and a circa 500 kilometre
2D survey in Block 1. Further drilling of the Kingfisher prospect will commence
following the acquisition and interpretation of the 3D seismic survey. Efforts
are currently being made to identify and secure a higher capacity rig capable of
deeper drilling in order to explore the deepest objectives not penetrated by the
Kingfisher well. In addition, initial plans are being developed to drill the
offshore Pelican prospect next year.



Tony Buckingham, Heritage's CEO stated 'The cumulative flow rate of 13,893 bopd
from the Kingfisher well has surpassed our expectations. The test results
indicate the outstanding potential of the Kingfisher discovery; substantially
lowers the exploration risk of drilling other multiple targets in our licenses;
and is another step closer to future production and commercial viability.
Heritage is accelerating the work program to maximise the potential of what
could be a world-class petroleum basin. All five wells drilled in the Albert
Basin in the last 15 months have been oil discoveries, which we consider
exceptional for a virgin onshore hydrocarbon basin and Kingfisher is the second
well that has produced over 12,000 bopd under test. This is a very exciting time
for Heritage, as these licenses could transform this Company.'

http://www.investegate.co.uk/Article.aspx?id=200703010702211034S

Hi Big Al.

The question is, if you refer to the tectonic map above, looking at Towrs acreage and bearing in mind the scale, are the faults possibly a help or a hinderence to deposits if any in the depotcener in license number 5?

If you don't know, that's fine and thanks for looking in.

sww - are you sure that scale is correct? The narrative says block 2 is 160 km SW, but that would be off the map. Must be wrong no? If it's correct, the acreage and depocentre seem very small.

Anyway, faults? They can be both a help and a hinderance. Most traps in the world are created by faults. The East African graben (rift valley) is no different to the Graben (plural) in the North Sea where all our oil wealth lies. Therefore, faults = reservoirs, which is good news. Of course, these have to be sealing. There are circumstances in which they could hav eprovided a route whereby hydrcarbons may have long exited the structure.

The interesting thing are the seeps on map 2 - wonder what they're all about.

Hi Big Al, thanks for looking in.

I was looking at the scale coincidentally, I thought it was wrong as well.

The siesmic booked for July is 260 square KM so I would say that there may be a naught left off.

The seeps are interesting as they are probably from a trap known as Kingfisher which is thought to be 3000 feet down and pretty darn big. Tullow and Heritage have that all sown up both sides of the border!

The bulk of Kingfisher is thought to be under Lake Albert and seeps are evident on the surface water of the lake.

I'll do some more on the scale, probably wont take too long.

I am interested in Tower because of the tectonics and appraciate that without a seal there may be nothing.

Back soon.

This map shows the distance across Towers acreage at the bottom as 50km.


That works out for the 260km of seismic.

I think it proves the other to be incorrect.

I think Tower is an interesting punt at the 2.5ish price and from your answer I will stay with it and top slice as and when.

Your reply has helped put into perspective a point raised elsewhere, many thanks.

"Seeps and Oilfields

A good definition of a seep is ''the surface expression of a migration pathway, along which petroleum is currently flowing, driven by buoyancy from a sub-surface origin'' (Clarke & Cleverly,1990). Knowledge of where oil and gas seeps are emerging is therefore a key piece of evidence in reducing the risk on source presence in a new basin as seeps originate by leakage from buried oil and gas accumulations (fig 1). At the most basic level, this demonstrates that the basin contains a generating source rock and hence a viable petroleum system.

Oil seeps

Work published by BP and others in the early 90's (Clarke & Cleverly,1990; Clayton et al.,1991) demonstrated that over 75% of the world's petroliferous basins contain surface seeps (Fig 2), the exceptions being those with unbroken regional evaporitic seals (such as the Hith Anhydrite in the Arabian-Iranian Foreland basin). Most seeps represent tiny but detectable volumes of oil and gas which are not significantly depleting the reservoir. Exceptions would be in some recent onshore fold and thrust belts where accumulations have either been breached or redistributed to tertiary traps and where the link between surface seeps and the leaking traps is more complex. Such geology, however, is rarely encountered in offshore basins so that problem does not arise. Confirmation of the presence of seeps, therefore especially in offshore basins, is positive and in the vast majority of cases is not indicative of breached or depleted traps."

http://www.npagroup.com/oilandmineral/offshore/oil_exploration/index.htm

That Kinfisher is a decent size now the scale is right.

Tower might be worth a punt looking at it. 33% spread means it's no trading stock. LOL! 12.6m mkt cap I have tonight. Need to check how much cash, etc. Always handy to have 100% though. ;-))

Al. The board memebers are what I was initally attracted to this for........

Chairman - Peter Kingston
...a Petroleum Engineer ...40 years of experience in technical, executive and advisory roles....directly engaged, as a director, in the strategic development of oil companies for over 20 years and ...served as executive and non-executive director of UK-based oil and gas companies, including LSE-listed, AIM-listed and private companies. He was Joint-Managing Director of Enterprise Oil Plc from 1984 to 1992. He is ...Deputy Chairman and Senior Independent Director of Soco International ... where he also serves as Chairman of the Audit and Remuneration Committees.... He became Chairman of Tower Resources on 1st February 2006.

Executive Director - Russell Langusch
...a petroleum engineer ...over 29 years' experience in the upstream oil & gas and finance sectors...includes direct working experience in Australia, South-east Asia and the UK North Sea....spent 13 years with Schlumberger and Esso in a variety of roles including field engineer, field service manager, marketing manager, petrophysicist and senior reservoir engineer ...then employed by a number of international investment banks including James Capel, Deutsche Bank and CIBC World Markets as an Oil & Gas Analyst undertaking company research, corporate advisory and M&A work....managing director of Elixir Petroleum Limited, a dual AIM and ASX-listed North Sea exploration company

Non-exec director - Peter Taylor
...Joint Chairman of TM Services Ltd, an international oil and gas consulting company. In 1991 was a founding member and director of TM Oil Production Ltd ...now Dana Petroleum Plc, an oil and gas company listed on the Official List and one of the UK's leading independents. ...a director of Dana until 2001...a founding member and director of Consort Resources Ltd, which became a significant North Sea gas production company, and of Planet Oil Limited, which was merged with Hardman Resources Limited in 1998. ...a founding member and director of Star Petroleum PLC, which was incorporated into Global Petroleum Ltd, which is dual ASX and AIM listed and which has significant interests in Kenya and the Falkland Islands. ...a founding member and director of Neptune.

Non-exec director - Peter Blakey
...Joint Chairman of TM Services Ltd, ...founding member and director of TM Oil Production Ltd, which is now Dana Petroleum Plc ...founding member and director of Consort Resources Ltd, which became a significant North Sea gas production company, and of Planet Oil Limited, which was merged with Hardman Resources Limited in 1998. ...a founder member and director of Star Petroleum PLC, which was incorporated into Global Petroleum Ltd, which is dual ASX and AIM listed and which has significant interests in Kenya and the Falkland Islands....a founding member and director of Neptune.

Non-exec director - Mark Savage
...senior executive for a number of US banks before he joined an Australian based merchant bank....experience in debt and equity markets as well as in the corporate advisory area..has held directorships with a number of public companies....is a director of Global Petroleum Ltd which is dual ASX and AIM listed and which has significant interests in Kenya and the Falkland Islands.

Dana and SOCO feature quite a lot, Russell Langusch from Elixir has moved on, but thoise other guys are not withTower for fun's sake, they know what they are about.

As regards their Uganda License, they currently have 100% and must drill before year end 2008 AIUU, they are actively seeking a farm in, but refuse to let go more than 40%, have stated they are happy to keep 100% if their terms are not met and have private backers waiting to bankroll if they need it.

Need to look at Namibia too, but I suspect that Uganda is the one with potential to be a Company maker. The company are looking to hedge out any investment with other opportunities, their words, elsewhere so they are in the market for more.

You are right about the spread, however it has narrowed enough for me to slip in and out over a couple of days, so I have reduced to anti by 25% of late.

BTW if you look at the new map from Heritage, Turaco 3 (to the north of Fort Portal, another accodation zone), was CO prone and non commercial as a result, but as the drilling has gone north, the oil has become sweet to 30 degree API, the Rift graben sits on granite and on both sides and is 3km thick in the middle so there is a good bottom and side seal . at least, it's what is going on in the graben that is the issue.

Plenty to play with there.

The success going north and quality of oil improving, gives me a picture in my minds eye as to how the graben was formed, and is today i.e as a delta from south to north at some point in it's geological history.

The operators on existing blocks have drilled around 9 times now and each time oil has been hit in commercial quantities.

They have not even bothered with 3d seismic there yet, all the drilling has been on 2d alone although Tullow are about to change that over Kingfisher in particular.

Tullow is also drilling this year in the block adjoining Towers, I expect in the accommodation zone indicated to the right of Mahag. That will be a pointer as to how good a prospect this is.

Final Results

Tower Resources PLC
03 May 2007

Press Release

For immediate release: 03 May 2007

Tower Resources Plc
Final Results for the 18 Months Ended 31 December 2006

Tower Resources plc (Tower' or 'the Company'), the AIM-listed oil and gas
exploration and production company today announces its final results for the 18
months ended 31 December 2006.

Highlights:

Uganda
- Encouraging results from gravity and magnetic data
- 2D seismic shoot to commence in September 2007
- Two wells anticipated early in 2008


Namibia
- Very large structures identified from seismic
- One structure coincident with strong gas indications
- Farm out discussions underway

Commenting on the results, Peter Kingston, Executive Chairman of Tower said:

'The evaluation programmes under way since the beginning of 2006 have yielded
very encouraging results in both Uganda and Namibia and the Board's optimism
about prospectivity in both Licences has steadily increased over the review
period. The success achieved by other operators in Uganda has raised awareness
of what promises to be an exciting new oil production province The year ahead
will see significant tangible development.' (for more read from the link)

Ive ignored this one for a while, but imo it is time now to fill your boots.

Its still a punt, but some risk has eased with the finds in Uganda and the mammoth leads in an adjoining license held by Tullow and Heritage.

http://www.investegate.co.uk/Article.aspx?id=200708281351018723C

"TOWER RESOURCES AND ORCA EXPLORATION JOIN FORCES IN UGANDA

Tower Resources ('Tower'), the AIM listed oil and gas exploration company, and
its wholly-owned subsidiary Neptune Petroleum (Uganda) Limited ('Neptune') have
reached agreement with Orca Exploration Group Inc. ('Orca'), a Toronto TSX
Venture Exchange quoted oil company. Orca will have an option to fund 83.33% of
the expected cost of a commitment programme of seismic and two exploration wells
to earn a 50% interest in Exploration Area 5, north western Uganda. The
exploration area is currently licensed 100% to Neptune.

Under the terms of the agreement, Orca will fund 83.33% of certain back costs
and a 2D seismic programme of 250-300 kilometres, expected to begin this coming
September, which fulfils the commitment of Neptune Petroleum relating to the
first exploration period of the EA5 licence.

On completion of the interpretation of the seismic data, Orca will have the
exclusive option to be assigned a 50% working licence interest in return for
continuing to fund 83.33% of two exploration wells, expected to begin in
mid-2008. Orca's financial contribution relating to the licence commitments is
limited to maximum amounts of US$5 million in respect of the seismic programme
and an additional $10 million in respect of drilling and, if successful, $5
million in respect of testing the two wells.

In the event that Orca exercises its option to become a 50% partner, Neptune
will continue to remain operator under the licence for a period of three years.
However, Orca will assume management responsibility for all drilling activities.
Orca operates the Songo Songo gasfield in Tanzania. Its principal corporate
office and operating base is in Dar-es-Salaam.

Tower's Executive Chairman, Peter Kingston, has welcomed the future involvement
of Orca as a potential 50% partner in EA5. He said:

'Orca has the same cultural philosophy as Tower in the approach to conducting
business in a community-friendly manner. Its significant experience of managing
operations successfully in Tanzania and its belief in combining the strengths of
both parties in the management of business activities will be very positive for
both sets of shareholders. Uganda is entering a very exciting phase in its
development as a new oil province and both Tower and Orca are looking forward to
being a significant part of its future.'

End"

Looks good to me.

TOWER RESOURCES: NAMIBIA UPDATE

Tower Resources PLC
05 September 2007

TOWER RESOURCES: NAMIBIA UPDATE

Tower Resources ('Tower'), the AIM listed oil and gas exploration company, and
its wholly-owned subsidiary Neptune Petroleum (Namibia) Limited ('Neptune') have
completed a 2D seismic acquisition programme and have agreed farm out terms with
a third party. Both events mark important progress in the operations and future
funding of their licence obligations in Namibia.

Tower contracted with Sana Navigation Company Ltd. to deploy the seismic vessel
'Northern Explorer', to acquire 2-dimensional seismic programme over the north
western areas of its licence covering offshore blocks 1910A, 1911 and 2011A. The
survey was completed on the 1 September 2007 having acquired more than 700
kilometres of good quality data. The next step is for the process and
interpretation of the data. This new data will facilitate further evaluation of
the large structure revealed by an amplitude variations with offset analysis as
currently seen on existing licensed data.

Neptune has also signed a farm out agreement with a third party to fund this
work programme and, potentially, additional future seismic and drilling
activities. The farm out agreement is subject to formal approval by the Namibian
Government and a more detailed announcement will be made once this has been
received. Tower will continue to have a 100% interest in the project up until
completion of the farm out agreement.

End

In summary

Seismic in Uganda before year end, drilling x2 mid 2008 based on results. 50% carry over 83% of total costs. HC's in multiple drills by Tullow/Heritage in adjoining blocks with the possibility of a billion barrel field at Kingfisher.

Seismic in Namibia over 3 licenses. Farm in subject to results.

Share price 3 pence to buy.

Yes SWW, looks interesting gamble. Had a small punt today with profit from reducing my bet on PET.

Good work with PET you have needed balls of steel there sometimes and I admit I am not a Horgan/Teeling fan, however it seems to be becoming good.

Updated tectonic map of the Abertine Graben now in the header.

Namibia Farmout:-

http://www.advfn.com/p.php?pid=nmona&article=22332156&epic=TRP

TOWER RESOURCES: APPROVAL OF NAMIBIA FARMOUT


Tower Resources ("Tower"), the AIM listed oil and gas exploration company, has
been advised that the Minister of Mines and Energy of the Republic of Namibia
has approved the farmout by Tower's wholly-owned subsidiary Neptune Petroleum
(Namibia) Limited ("Neptune") of an 85% interest in its Licence, covering
offshore blocks 1910A, 1911 and 2011A, to Arcadia Petroleum Limited (Arcadia).
The Minister has also approved the transfer of the Operatorship of the Licence
to Arcadia.

Under the terms of the farmout, Arcadia has committed to fully fund a programme
of activity in four parts which includes:

* cost associated with shooting the recently completed 2-Dimensional seismic
programme and further costs arising from its interpretation;
* shooting and interpreting a 3-Dimensional seismic programme, presently
contemplated in early 2008;
* an exploration commitment well;
* a second well which might be an appraisal well or a second exploration
well.

Arcadia has the option to withdraw from its commitment at the end of each of
these four stages of operation or to assign all or part of its interest to a
third party agreeing to meet the funding commitment. In the case of withdrawal
and failure to assign, the full 85% interest will revert to Neptune. Arcadia
will also reimburse 85% of certain historic costs to Tower.

Arcadia Petroleum Limited is a substantial trader of oil and related products.
They bring considerable financial strength to the Licence as well as access to
very relevant expertise in exploration, development and shipment of oil and
natural gas.

Peter Kingston, Tower's Chairman has welcomed the introduction of such a strong
partner. "Arcadia shares Tower's belief that the Licence has the potential to
contain giant gas fields. In particular, the discovery of large volumes of gas
can be developed effectively given Arcadia's financial strength and its access
to appropriate technology. Activity now promises to progress quickly and the
potential of the Licence is genuinely exciting."

Interim Highlights:-

"Interim results for six months to 30 June 2007

Tower Resources ("Tower" or the "Company"), the AIM listed oil and gas
exploration company, has today announced substantial progress with its
operations in Uganda and Namibia during 2007 with significant milestones being
achieved since mid-year.

In Uganda:

*Seismic Operations have begun
*Orca Exploration Inc. to fund most of the licence commitments over two
years
*Two exploration wells anticipated in 2008
*Other exploration operators enjoying continuing success in the region

In Namibia:

*700 km 2-D seismic survey completed early and data quality very high
*3-D Seismic survey in planning for 2008
*Farm-out agreement with Arcadia Petroleum Limited

The Company had a period end cash balance of #2,136,382 after capital
expenditure of #479,568 and reported a loss for the six months to 30 June 2007
of #252,388. In addition, the Company expects to receive $1.7 million in back
costs as part of the farm-out arrangements.

Tower Resources' Executive Chairman, Peter Kingston, said:

"The Boards optimism about potential achievements in both the Uganda and Namibia
Licences has continued to grow during 2007 and this is now shared by two very
strong partners.

'The next 18 months will be very exciting; In Uganda, a 2-D seismic survey and
two exploration wells should be completed by the end of 2008, whilst in Namibia,
a programme of 3-D seismic surveys will hopefully be completed by the end of
2008.

'With both existing Licences largely funded, the Board will now give greater
priority to adding additional licence interests, probably in Africa, to its
portfolio"

http://www.advfn.com/p.php?pid=nmona&article=22332101&epic=TRP

If anyone fancies coming in, then between now and the seismic results is the time imho.

Here it is.....

may watch this one .... really a bit small for me, and am happy with exposure to oil/gold through POG and IEC (and PMO) ..... it is of concern that NMS is only 5000 which is a joke for a penny stock

At least you did not dismiss it out of hand.

Thanks for the comment too.

haven't read about it either ... having done so, i may well say i think it's a load of ordure! .... lol!

OMG and to me your word is Gospel.......... I just sold my wedge!!

Nah not really as I have traded this so I am 75% up since July last year!!!

;-)

But that's nothing compared to what I think will occur.

a 35km strucure that you can see in the tectonic map excellent gravity contours as you can also see and significantly derisked by the drilling record of adjoining blocks, siesmic under way and 2 well sceduled for Q2-3 next year in Uganda.

No need to hold up to that point, I would expect there to be a fair profit before drill hits the ground even if buying now, but I intend to see this one out.

Just spotted something else.......... I gone for a minute but the tectonic map shows 2 such structure not sure id the southern one is within their license, popping over to Canada to confirm.

Cancel that, they only have one 35km structure, the other is in License 1.

this exctract from the company's home page says it all .......

Tower Resources will, in mid-2008, begin a two well drilling programme and may, at that stage, bring in industry partners to share the associated financial risks.

at this juncture, and indeed for the next 12 months or longer, TRP is worth less than nothing ....... plenty more like that to choose from!

Having perfomed due dilligence pver a year now and decided this is the best of that bunch and well worth the punt, I will stay with it tillthe end.

Especially as they have brought in industry partners who will foot all costs so far subject to the usual conditions and that only leaves them 3m in the bank to play with for thier next stated intent acquiring more exposure in other areas.

So says the latest few RNS's which should have been read for the complete picture

The market cap is 14m and I would point out that a good fair proprotion of shares are held by individuals and institutions.

Let's hope that their bank is not Northern Rock!

more to the point, let's hope you have not taken out a mortgage to buy these!

Elephants digging for oil mmm

http://www.towerresources.co.uk/

If there is any possibility of their block having oil then they will be taken out by Tullow next door.

Tullow have stated they have enough Uganda just now see their finals.........

Heritage are trying to sell themselves..............

As said most of the stock is privately held, some with institutions, a takeover would only succeed at an agreed premium, so that won't happen.

cynic, yes I did take out a mortgage, lucky it was with Northern Rock so it won't count soon..............

Thanks for the contributions, even yours driver

LOL

Don't you?

Silly old seawallwalker, don't know your own name!

Orca(Towers Farm in partner for Uganda).

"In Uganda, the 300-kilometer seismic acquisition programme is due to
commence in December 2007 on Orca option lands. The data will be processed and
interpreted during Q1 2008. It is anticipated that the decision on whether or
not to drill two wells in Uganda will be made by 30 April 2008 with drilling
proceeding in the second half of the year. Work is already underway to
contract a suitable drill rig in country.
Exploration in Uganda by other energy companies continues to show
positive results. In the south, Tullow Resources plc has had significant
success with the drill bit and its reserves are reported to be approaching the
level at which it will be economically viable to install a 1,200 kilometer
export pipeline to Mombasa. This would mark a significant milestone in the
development of the Ugandan oil reserves and would help to monetise any oil
discovered by Orca.
To meet Orca's vigorous exploration, development and acquisition
objectives, the Company successfully raised Cdn$34.5 million during Q3 2007
through a fully subscribed private placement. These funds have enabled the
Company to fund the successful completion of the SS-10 well and to have
sufficient funds for the Ugandan exploration efforts in 2008. There is good
reason to look forward to the next year with considerable confidence."

"In Uganda, management will focus on finding oil reserves. A 300 kilometer
2-D seismic programme will be shot over the next three months by IMC
Geophysics International Limited and will be processed and interpreted by the
end of Q1 2008. Orca can then determine whether to proceed with the drilling
of two wells during 2008. The Company continues to evaluate existing and new
Ugandan data and is encouraged by the findings to date."
http://www.newswire.ca/en/releases/archive/November2007/29/c6000.html

I acknowledge the researcher encarter who posted this on a competitors site.

Ah......... there's more!

None of this will copy and paste but it came from the Company doing the seismic.

The seismic has begun!

Jolly old Dr Square found this one.

Some very good background in the Orca Q3 results :-

Uganda PSA terms

'The principal terms of the PSA, as amended are as follows:

- The First Exploration Period ends on 27 March 2008. By this time,
200 kilometers of seismic must be acquired, processed and
interpreted. This will be satisfied by the acquisition of 300
kilometers of 2-D seismic in the last quarter of 2007.

- Under the terms of the Second Exploration Period, minimum exploration
of two wells and one contingent well is required to be drilled by 27
March 2010.

- The Third Exploration Period ends on 27 March 2012. By this time an
additional exploration well and one contingent well has to be
drilled.

- Cost recovery is permitted for up to 50% of the oil production after
deduction of the Royalty. Carry forward provisions apply.

- The Royalty ranges from 5% on volumes up to 2,500 bbls/day to 12.5%
above 7,500 bbls/day.

- The profit sharing percentage of the licensee decreases as production
increases. The range is 53% for 0 - 5,000 bbls/day and 25% for
production in excess of 40,000 bbls/day.

- The Government of Uganda has a 20% back in right.'

Posted elsewhere by CarlosAlberto70

We have some very strong connections within the investors of this compnay, Carlos Alberto?

Hmmmmmmm................

Uganda Seismic Begins.

Having alreadsy done a gravity survey over the area in question pre farm out, I would anticpate some success here.

And the seismic was completed on the 12th February, some price and trade movements today.

Company update on or around 6th April

For those who dont know, this company has no debt at all and cash in the bank and 2 30% free carries on thier licenses.

They are activly looking for new licenses of quality.

They will not be 3 pence for much longer thats for sure

As things are moving on now, time for a quick recap in respect of Uganda.

Siesmic results due by end of Q1.

EA 5 PSA terms

The principal terms of the PSA, as amended are as follows:

The First Exploration Period ends on 27 March 2008. By this time, 200 kilometers of seismic must be acquired processed and interpreted. This will be satisfied by the acquisition of 300 kilometers of 2-D seismic in the last quarter of 2007.

Under the terms of the Second Exploration Period, minimum exploration of two wells and one contingent well is required to be drilled by 27 March 2010.

The Third Exploration Period ends on 27 March 2012. By this time an additional exploration well and one contingent well has to be drilled.

Cost recovery is permitted for up to 50% of the oil production after deduction of the Royalty. Carry forward provisions apply.

The Royalty ranges from 5% on volumes up to 2,500 bbls/day to 12.5% above 7,500 bbls/day.

The profit sharing percentage of the licensee decreases as production increases. The range is 53% for 0 5,000 bbls/day and 25% for production in excess of 40,000 bbls/day.

The Government of Uganda has a 20% back in right.

Terms of Orcas agreement with Tower Resources

The principal terms of the agreement are as follows:

The agreement is structured as an option with Tower to earn a 50% interest in EA 5.

In consideration for granting the option, Orca will fund 83.33% of certain back costs and a 2-D seismic programme of 300 kilometers, beginning in December 2007, subject to a maximum cost to the Company of US$5-6 million.

On completion of the interpretation of the seismic data expected during Q1 2008, Orca will have the exclusive right to acquire a 50% working licence interest in return for funding 83.33% of two exploration wells forecast to commence mid 2008. The carry is capped at a maximum cost to the Company of between US$10 million and US$15 million depending on whether the wells are tested.

In the event that Orca exercises its option to become a 50% partner, Tower will continue to remain operator under the licence for a period of three years. However, Orca will assume management responsibility for all drilling activities.

Orca has put a guarantee in place at the outset to cover US$15 million of expenditure.

http://www.orcaexploration.com/2007/Orca_2007_Q3.pdf

Uganda's Rift Valley

Some clarification of these leads will appear next week from Tower I believe.

VSA Capital Note

If anyone out there wants to buy, do so I should say.

Most likely hear results of Uganda early next week and possible activity into Namibia.

Both now prospective early drill targets if they can find rigs, their partners Orca and Arcadia Petroleum Limited both own rigs and are now the operators.

One to watch at least.

Something about Orca not having to commit till end of May I've heard. That would give us more time fiddling our thumbs on what must look like poorer prospects perhaps!

Concerned!

WE will know on Tuesday Rayrac, not a lot we can do in between.

As a matter of interest, have you looked at the Orca agreement?

It may shed some light on it, I'll find it and post it here.

Orca farm in announcement from August

Well there's nothing in there to account for the delay you are highlighting, what is your source?

I don't need to know who, so a generalisation will do or email me off board by clicking my screen name and use money am messenger.

Any comment you may have heard seems to fly in the face of the Reuters article which was published last week.

I am sure Peter Kingston will address such concerns either in the Prelims or at the AGM all of which are imminent

Tower are applying for licenses in Tanzania as below in this item found by xxnjr (TMF) for us,

http://www.tpdc-tz.com/PRESS%20RELEASE_TZ%20Closes%20Mini%20Round18.12.2007.pdf



They have bids in for Lake Eyasi-Wembere, Natron and Manyara and Lake Tanganyika South

They are active looking for new prospective licenses as promised.

1m shares are nothing in the scheme of things, even I hold more, but would they sell into a good story?



TOWER RESOURCES PLC ('the Company')



The Company was informed on 4 April 2008 that CIM Special Situations has sold
1,000,000 shares taking their holding to 31.75 million shares, representing 5.9%
of the total voting rights of the Company.

Alone it's nothing.

The announcement tell me thats all they are selling.

I will watch, I did see that the shares were being sold, even a million shows up when there are not too many in circulation.

Finals to 31st December 2007 plus operational update

Interesting update today.

LOL

http://www.advfn.com/cmn/fbb/thread.php3?id=16803160

doing very well.

180
You could say that 236% up.

LOL LOL LOL

poo
You still on these well done if you are.

Thanks SWW, I bought into the prospects for these last year after you alerted me via your informative posts on this thread. Taken out my investment and will let the rest ride.......Thanks.

.

I would not be surprised to see another largish gain tomorrow once it hits the papers as I am sure it will.

Hello poo bear, I found this place. Thanks for the tip.

OTU

.

.

PRESS RELEASE




8 April 2009




Tower Resources completes a rig contract with ASCOM for Uganda Drilling




Tower Resources plc ('Tower') (AIM:TRP) is pleased to announce that its wholly-owned subsidiary, Neptune Petroleum (Uganda) Limited ('Neptune'), has signed a contract with the ASCOM S.A. Group ('ASCOM') to provide the MBU-125, a mobile land rig to drill Iti-1, Neptune's first commitment well in Uganda Licence EA5.




The Iti-1 well site and camp site are completed and all Government consents are in place. All drilling supplies will be on site shortly and agreements with the necessary service suppliers are close to finalisation in readiness for the rig's arrival. There do not appear to be any serious logistical impediments to transporting the rig to the Iti-1 site. The current best estimate is that the rig will arrive at the well site in early May to commence drilling by mid-month.




Peter Kingston, Chairman of Tower Resources plc commented:




'The Tower Board is delighted that the first well in Uganda is now on a firm schedule and the results of more than three years of evaluation work will soon be tested with the drill bit. Results of drilling by other operators in late 2008 and early 2009 have highlighted the major potential of shallow prospects in the northern region of the Albertine Graben and I believe that EA5 has similar prospectivity.'

Good time to buy into this Imho

More good long term news today, Directors buying , putting there money where there mouth is. Gr8t prospects in uganga and namibia. Easily double from here. Imo Dyor

FRONTERA RESOURCES/FRR 4 well drill results imminent on the move

My friend in Uganda is expecting a positive outcome from the recent prospect.

4.7p when i posted on apr 21st. Now 7.38p and still along way to go maybe 30p dyor

starting to look good again here. Rumour is looks like it could be the black stuff!! News next week poss

http://brokermandaniel.wordpress.com/2010/02/23/tower-resources-confirmation/

Tower Resources. Confirmation

Filed Under: GKP Stock by Brokerman Feb 23, 2010

Hydrocarbons encountered at Aviv 1.

There you go you got it first here.

http://brokermandaniel.wordpress.com/2010/02/23/tower-resources-confirmation/



Daniel

Exactly, where does this source of information come from ?.

rf - it comes from the link above - you can contact him at his website i believe

clearly the market doesn't believe that story - enuf sed

that certainly seems to be the case - regardless of that i'm happy to wait for the official news either way

Read about this one in The Times this morning - said they were expecting positive drilling results yet SP headed South.

Can anyone expand on this?


Cheers

Look at the RNS. Oh dear.

dead in the water

Luckily...not many of these....they only have the namibian assets left....what a mess !.

Whoops! least i only invested a grand here. Can`t win um all.

Shame the online sytems are manipulated rotton otherwise there's good money
to be made trading it.

In this sector i think Pele represents the best and safest value if there's such
a thing.

me too blanche .... i had 1500 in here which i have now dumped .... serves me right

actually, a far better bet is now DES which has tumbled back to about 107 in sympathy

Amazing what bulletin board hype can do to a shareprice, Trp constantly finds dusters yet their shareprice always seems to treble from their lows before the next
duster is found, as long as the pump and dumpers get out with their profit they will
happily move onto the next one.

Cynic. Think iam just gonna put in the bottom draw and hope for Namibia in 2011/12. Least i didn`t have anything in sogp. Major WHOOPS!

If you were quick this morn you could have brought for a 1p and sold now for 1.5p

Almost impossible to do online, tried and was refused to buy even 10k until the
price hit 1.5p offer, mm's just refuse to let online dealers buy or sell unless they
have a big order to clear.

Ravey Forget online when these things happen they never let you trade you have to use the phone!

Too right, i was trying to buy 100k all the way down with selftrade at 1.05p offer
and when i did get a quote it was 1.75p when the offer was 1.25p, you dont stand a chance thesedays with market makers and their blantant manipulation of the online system, it's not even close to fair.

that's why you need to work with a proper company - e.g. IG or a proper broker

glad I didn't bother with this one! That would have been painful

I've used IG and they are quite frankly poor and i doubt they would have let you
get any size at the right price and time this morning.

And even a quality phone broker such as Charles Stanley would have struggled,
the fact was that whille the mm's were dropping the price sharply they had the
buy limits next to zero and with a NMS of 25k it would be hard work, did manage
to get a very small amount at 1.28p and sell it for 1.6p so it was worth the wait.

as this is an MM only stock, any broker is governed absolutely by what the MMs offer .... thus, you can place an order at a given level through IG or whoever and can instruct part fill if necessary .... they will then place it with MMs and ask them to try to work it

And that would take less than one minute then cynic !

The whole point was that while the price was 1.1p or less which was only about one minute the mm's refused to let you buy online so it did not exist because it would be impossible to have enough time with a phone dealer to get any stock at that price, a few limit orders might have got lucky.

with MM only stocks, it is often the ONLY way to trade, but don't forget you can also leave price parameters with your broker

Unfortunately ,unlike trading FTSE 100/ 350 stock ,trading smallcaps /microcaps on the online dealing service has never come into its own. Shame. .Reg. TRP my genuine commisserations to all/ hope no-one lost too much cash ! . But upon reading the thread; once again 99% of the postings are pregnant with wide eyed expectation and confidence and talk of 10 baggers ect ect .Very little caution advised. BUT lf you dare go against the herd and furthermore dare make a negative comment you are either treated with sheer contempt, filtered or derided as a neo loon.. Point being is that their are a plethora of microcaps trading in the gas/oil sector who like TRP have recently been talked up-(ramped)... confidence begets confidence and people being people are scared of missing the gravy train and hence jump onboard .... Amer and Solo spring to mind .{ Am i correct in assuming the latter also have a j/v with TLW as did TRP- but j/v s can be a double edged sword ] ......ALWAYS ERR ON THE SIDE OF CAUTION !!!!!.........( edit ) Plus ADYOR !!! Always . ,,,,even with a small play

Lost some this morning, but that's the nature of these risky oilies.....but then again doing well on a dozen others, so can't complain overall....the thing is to make sure not too have too many of the very high risk ones like TRP.

TFC, your ref to TWR? They ceased trading in 2008. This is a TRP thread.

TFC.

Well said, i tried doing that cautious approach on AST here and got abused rotton, Ast is similar to TRP in that they have a habit of disappointing just when hopes are
getting up again, sick of the abuse i receive at times for making my view.

Sorry harry -typing not my strong suite. Being on this very thread i meant TOWER..(TRP) .,,,,,,,,,,,,,,,, so many new floats in the gas/oil sector on AIM may more than suggest where the money of the future is to be made- but still l would advise extreme caution - you dont want to end up with a basket of highly risky purely speculative shares obviously Hope you have among your oiles underpinned with a couple of bellweathers and a few FTSE 350 proven plays

TFC - you are absolutely right about daring to speak against the herd, let alone putting money there

Now dont get me wrong Mr. C but i cant tell anymore whether you are being sarcastic :-)) ,,,,,,,,,Regards regardless.

not at all .... cold blast of reality upsets many

yes ,,,,,,dont i know that ...short of death threats there remains little in terms of abuse left to them call me ,,;-)) MXP up 25% since i asked yr opinion last week.......admitedly on amer thread :-))

i like MXP even less than AMER, though to give the latter its due, it has sure performed well recently

your dislike of mxp, by any chance, due to Times article reg Kazi licenses ? ....u cld be right ,of course..l mean look at Putin getting involved in the truly huge BP/TNK j/v with intention of awarding BP's share to Gazprom- but methinks its a sabre waving exercise in Kazi land - too desperate for foreign investment..........................................................................................................edit ....mind you .Ever seen the place --- not unlike old style run soviet republic. absolute arm pit of the world

no ....can't remember why i disliked; perhaps just because it was foreign! .... by the way, some major oilfield developments scheduled in kaz for Q3

Quite amazing how many times i've tried to buy a paltry 100k today only to be to turned down for too much size, happy to drop on L2 but wont offer any size at the same time, always means there will be a little spike upwards back to 1.5p when they finish flushing out any weak traders near the low.

Yep 10k max buy online or 135, it's not a bad life being a mm, they must all make hundreds of millions a year manipulating prices to their advantage with aim oil and gas pennies !

don't know what you are on about, no problem buying any amount online.

You try and buy when they are forcing it down to the lows, not a chance
unless you keep it very small, when it's rising and the offer is back up of
course they open the limits.

sorry no problem buying online if you genuinely want to buy.

What are you trying to say ?

why did todays RNS not say the well had been abandoned as a duster but instead say they were studying the wire logs?

Tower Resources plc (AIM: TRP) wishes to advise that Avivi-1 has reached its total depth at 764 metres without experiencing oil shows - basement was penetrated at 742 metres. Electric logging operations are underway and a full statement will be released once these have been completed.

quite!

PINCHED FROM ANOTHER BB.

In response to an email query regarding why the well was not abandonded, and whay they hope to obtain from testing.


Dear Mr XXXXXX,

The well was drilled to its total depth and the announcement was simply a true statement to limit the possibility of further market speculation.
A decision on plugging and abandoning a well would not normally be made until the wireline logs had been completed in case the drilling results were misleading. Such a decision will be possible in the next couple of days after which another announcement will be made with a more complete explanation of results. As I always have to remind people, one successful exploration well out of five is considered a good record and knowledge of a Licence can sometimes take several wells to become complete.

Your sincerely,

Peter Kingston
Chairman

Tower Resources Plc
5 Charterhouse Square
London
ECIM 6PX

in other words, he's effectively admitting this well is a total dud

Exactly

either Kingston is just "covering his arse" or perhaps he may be considering drilling another well after studying the wireline logs.

...Mr.C well if all at mxp goes pearshaped ( which i doubt -obviously, being a S/H ..) l will have the very small consolation i paid 3p/4 p less than directors did not so long ago (esp CEO who tripled his holding ...mind you it was small tatties..),,,,,,,,,,,,,Reg Mr K ,,,sounds like hes covering all bases / eventualities. Not entirely sure i agree with his one in five success rate being acceptable . Last i heard was BP had a six out of six rate off coast of Angola. TLW -3 from 4 . ect ect,,,,,RDG -Disregard the insults.ln other words F*** em.

.

with assets offshore Namibia TRP should be worth a punt as the sp is only "pin money" if CHAR can skyrocket on the back of guesstimates why not Tower?

unlike CHAR, which has yet to prove itself full of shit - and it probably will - TRP has already done so

cynic which latrine do you live in?

the one in the backyard - i like to remember my tyke roots

We thought you came from the middle east, just dig a hole in the sand.

well you thought wrong didn't you ..... mind you bradford (or halifax) could be termed a close approximation

Why did we think wrong you seem to revel in the brown stuff!

like everyone here, i even buy it by the bucketload ..... strangley, every so often i come up smelling of roses

Careful halifax anyone digging a hole in the sand could start another worthless oil & gas E&P co. float it on aim and make a mint. mmmmmm
2517

cynic sp up 20% so far today must be those "sexy" Namibian assets!

20% of zero = zero!

cynic are you any good at math? sp currently 1.55-1.65p, missed the boat again!

got to get to 5p+ for me to miss the boat.

cynic up a further 15% doesn't it make you sick!

nope; why should it?
much happier to be holding the likes of GPX for which there is a proper market

cynic sorry we forgot you only choose shares that suit your opinion don't discount other opportunities which may also give good returns..... to each his own.

i've already lost money on TRP when i allowed myself to get suckered in, so why would i want to do so again?
i could also have bought CHAR at 80+ and made another loss

but heaven forfend that i should deter you

glad i topped up at 1.4 Happy days.

topped UP!! i'll be glad to see 5p and break even..lol

Good time to average it down. Go on you know it makes sense. lol

It's loose talk like that, that gets me into trouble... thank goodness no funds available at the mo...lol

There's all still to play for at Tower Resources

Article Created: Friday, Apr 23 2010 by Elias Jones 0 comments . Tower Resources Oil & Gas Oil Exploration Resources

Tower Resources (LON:TRP) , the AIM listed oil and gas exploration company with interests principally in Uganda and Namibia, is about to embark on a third exploration period within Block 5 of the Ugandan Albertine Basin and the eagerly anticipated 3D seismic study in Namibia.

To date, Tower Resources through its subsidiary Neptune have drilled two wells located in Ugandas Exploration Area 5 (EA5). Both wells were a major disappointment to its shareholders by not proving a commercial find but they have increased significantly Tower's understanding of the basin and its complex geology. The main encouragement from the two wells is that they have significantly de-risked the area in terms of generation and migration of oil. Along with surface seeps within EA5, the first well named lti-1was appraised to have the potential to contain oil in a 15-20m interval within a 35m gross basal sandstone reservoir located on the basement. [1] The results of the second well, Avivi-1, are believed to contain a composition of thick sequences of organic rich sediments similar to that previously encountered within the area. [2]

With the indicators to date suggesting that the oil migration in the area is deviating from mature source rocks in the deeper areas of the basin, the first priority for Tower within the forward programme will be to increase its seismic coverage and geographical appraisal of EA5, for an improved chance of hitting the sweet spot next time around. The major achievement for Tower has been proving evidence that oil generation has been found within the exploration area which has generated third party interest for participation in the extended period, with most of the funding likely to come from the project partners. [2] Following the Avivi-1 Peter Kingston, Tower's Executive Chairman commented:

The Tower Board has had no hesitation in deciding to continue with its exploration programme in Uganda for another two years. In particular, it is pleased that there is growing evidence of the presence of mature oil in the EA5 Licence. This is typical exploration progress, with valuable information being gained from each phase of activity which suggests that there is still everything to play for. The Board is also encouraged that exploration in Namibia is moving closer to well drilling programmes and the ultimate test of exploration potential in the area.

Something happening. leek? Back in profit. yeeeeaaah

Patience will be the reward.

nice rise today, am nearly back in profit.,.

see the privaliged people as always privy to the info days ago before us meer pi`s

Serves you lot right for investing in penny shares. You should know better! ;o)
Take the money & run is my advice.

did say nearly....bit to go yet. lol

I'm always cautious about insider trader with Trp, they always know when
bad news is coming but at the moment there is a regular stream of 500k
buys in this, not sure if there is a imminent drilling update due but the trades
do look suspicious.

Presentation this week.

Sounds good.

Are Trp finally going to deliver, as always there's a whole host of weak players
in the market selling on barely any rise this morning, think they will regret that
when sellers exhaust and buying continues.

Chairman Peter Kingston has just announced Namibian 3-d seismic survey completed 6 Sept " as excellent data " !

Constantly cannot buy any size in this at the moment, cannot even buy
500's worth but of course they wont move up their quotes easily.

Patience is required.

The herd will chase this one above 4p again when they issue the data.

Always happens, just sit back and wait for the 20-30% gain to materialise
or higher if you are in at 3p or lower.

about as stable as Zimbabwe mitzy so if they ever found anything they'd have no claim to it i bet - just ask Heritage oil. Don't bet the farm here ffs.

I wont ronny thanks.

Love or hate Trp somebody has paid a 0.1p premium for 1 million shares, i was
wondering why the online limits were so good currently.

Well back in profit now 72% so happy days again. Things are gradually building here, With good buying again today. Something a foot me thinks. AIMVHOOC

Decided to sell with 95% profit. To tempted to put money else where. Will keep eye on it may come back in future.

good for you blanche, got to go quite a bit more for me, don't think i'll see 95% lol..

Timed that pretty well, better still ploughed the lot into bao at 10.25. Happy Days

This is the next one to do a vertical rise....in the world of speculative oilies.....

http://www.iii.co.uk/articles/14365/four-oil-firms-east-african-exposure

Chart breakout about to happen ?....should move very fast if so !.

Trickling up......massive potential....nice rise...

Starting to really climb now...perhps 10p on the cards ?.

Decided to take some profits here as this has had a tremendous run and a discovery is priced in......not sure where the top is....

RNS out. Looks good to me. Any thoughts?

One of the rare steady risers over the last week.....looking good once more...

Whats going on with TRP today. No trades!

Might be time to get back in here......loads of news to come from this and CHAR soon...should push the sp's higher....

Time to look at TRP again.... BPC....2 billion barrels perhaps...GOO...2 billion barrels perhaps...TRP...9 billion barrels perhaps.....in the perhaps world..no contest...

http://www.investegate.co.uk/tower-resources-plc--trp-/rns/statement-regarding-results-of-murombe-1-well/201307220700117842J/
----------------------------------------------------------------------

CEO Jeramy Asher.

Sums it up .....pooooooo

This chap really makes SLG's Azancot look like a bit of a wuss.

In January 2008 there were 527m shares in issue.At 3p odd that was a market cap of £15m.

In addition to Uganda they had free carry on 15% of a well in Namibia having farmed out 85% to Arcadia for back costs and siesmic.

Fast forward to June 2012 when Repsol takes over from Arcadia as Namibia operator with 44%.TRP stays with 15% free carry.

In July 2012 TRP decides it wants to increase its share to 30% (thereby abandoning its free carry)
by reimbursing Arcadia with back costs (5.3m$) and committing to 30% of future well costs .

Fast forward to early July 2013 TRP says total well costs net to TRP will be 24m$ for its 30% .It has 2.8m$ cash at the end of June.
Shares in issue now 1624m (!) at ~ 1.55p market cap £25m -in spite of having found nothing in Uganda .
So they now want to issue another 1163m shares (plus the 120m for the Wilton purchase) for ~20m$ taking them to 2907m shares just to give them 20% of the Namibian well .Presumably they are earmarking about 16m$ for this but there's no guarantees as they say they want to make some more (2?) aquisitions before the year end.
They say they want to farm out the remaining 10% but there are no guarantees there at all so they may well have to issue another say 500m shares to raise another 10m$.
On this scenario they will have 3400m shares in issue for what is essentially a shit or bust well or double the shares in issue from the free carry.

Quite why they could not be satisfied with 15% without diluting existing shareholders so much is quite beyond me.

TRP is potentially a 10 bagger at todays prices. And the first drill is only a few months away now. The hype surrounding just being a Namibian oil explorer may get this to 10p before the drill results are out. Some brokers are all ready predicting a £5+ share price if oil is discovered.

WATCH:Nigel Quinton, Head of Exploration, Tower Resources present at 62nd Oilbarrel conference

Click the link to watch
http://www.brrmedia.co.uk/event/118313/nigel-quinton-head-of-exploration