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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.

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.