Tower Resources Company Page

May 2008 Presentation on Uganda and Namibia

VSA Capital Analysis November 2007

Tower Resources Interim Results September 2008

Global Petroleum Farm In Agreement RNS

Hoodless Brennan Research Note 23/10/2008

Hoodless Brennan Note 12/01/2009

Fox Davis Research Note 6th Febraury 2009

If ENI is prepared to pay $1.5billion for HOIL's Ugandan assets who is to say somebody else may not be looking at TRP? Worth a punt at 4p in our opinion, nothing ventured nothing gained. Go to bed early cynic and dream about the "Mountains of the Moon"!

Ridiculous to expect a bid here.

The sub basin they will drill is not connected to the Heritage acreage.

Lets see if they find oil before fantasising please.

The sp rise is speculators in for a quick buck pre drill result just as last time with Iti-1.

They will dump before drilling is completed just like last year at around 6 pence I expect.

Lets see what we could have won if the drill comes in however.............lol

quite so poo ..... don't know what's happened to old shoddy .... his views used to be pretty well balanced and intelligent, but age and/or the vintage port look to have caught up with him

assuredly something like DES - or even FOGL et al - makes a much sounder gamble

for a salutary and sobering thought, i recommend a quick look at the new CAZA thread!

You have to remember this well will take only 2 weeks to drill from what should be early Feb. Therefore now is about the right time for people to start building speculative holdings.

Thats why its rising.


The Avivi-1 well has a primary stratigraphic target interval below 702m and a
secondary target interval which is immediately above expected basement at a
depth of 833m. The higher interval is targeted to encounter high quality fluvial
sandstones, similar to those found in the successful wells in Licence EA1,
adjacent to EA5, but which were absent in Tower's first exploration well, Iti-1.
The deeper prospective interval may have alluvial sandstones similar to those
encountered in the basal reservoir at Iti-1, but of improved quality. It is
anticipated that the well will take about two weeks to drill to total depth.

TRP belongs to 5 of my favourite small oilers for early 2010.

TRP - spudding Uganda early Feb - major potential upside.

AEX - spudding Tanazania 2nd week of Jan - major potential upside

XEL - spudding North Sea test well late Jan/Early Feb - major potential upside.

AST - spudding loads of wells in Q1/2/3 2010 - major potential upside.

DES - spudding Falklands wells in 2010 - major potential upside.

personally, i wouldn't dream of having so many amoeba/minnows from one sector in my portfolio, but if were to choose 2, it would be DES, which I currently hold, and XEL which is just on my watchlist

I'm in all of them, but Tower must be the one with the most risk.....if it comes up dry ?.....heavens forbid !....the sp will plunge...

if you're in now, then seriously consider selling a slab just after spudding but before result ..... if not in, then stay out!

The thought had crossed my mind.

cynic pleased you are not in this "heads or tails" situation your involvement would only put the "mockers" on it. All will be revealed in about 6/7 weeks rather than having to tie up funds for 6/7 months with DES.

ROTFL! ...... would that i was even 25% that influential! ...... both timescales are pretty short and so are not very relevant, other than you can lose your shirt - or dress in ermine - a little quicker on one than the other

The 23rd Dec mention from http://www.oilbarrel.com

December 23, 2009

Tower Resources Confirms February Spud Date For Its Second Well In Uganda

It’s certainly no guarantee of success but the superstitious might take heart from the news that the rig contracted to drill Tower Resources’ second well in Uganda has something of a pedigree in the country. The AIM-quoted explorer has hired the same land rig that has clocked up 15 wells across Blocks 1 and 2, delivering a spread of oil discoveries for Tullow Oil and Heritage Oil that has really put this Central African nation on the oil map.

Tower is exploring some 80 km to the north of the acreage held by Tullow and Heritage; its 6,000 sq km block lies at the northern end of the Albertine Graben. Targets here are very shallow but seismic work has identified some geological similarities between Tower’s Block 5 prospects and some of the shallower Tullow and Heritage discoveries.

Of course, Tower’s first well on the acreage, Iti-1, failed to prove the northern extension of the Albertine fairway. The well was drilled to a total depth of 592 metres and failed to find any producible reservoir sands. Minor hydrocarbon shows were monitored during drilling but evidence of limited quantities of oil in the lowermost target horizon remained ambiguous in the subsequent down-hole well logs and pressure test data and the well was P&A in June.

Subsequently Tower hired some independent consultants to re-evaluate the well data and they concluded that Iti-1 had encountered between 15 and 20 metres of net reservoir sand with “significant” potential to contain oil. This conclusion would need to be verified by a well test and this is not going to happen in the near-term. It does, however, provide some comfort that the acreage does hold potential oil-bearing reservoirs.

That potential will next be put to the test in early spring, when the second well, Avivi-1, spuds on February 1. Confirmation of the rig and spud date will bring some reassurance to investors that the company will meet its licence commitments: the second well had to be drilled by March 2010. It won’t be a long drill, taking about two weeks to hit total depth of 833 metres. The Avivi-1 well has a primary stratigraphic target interval below 702 metres and a secondary target interval immediately above expected basement.

Importantly, Tower’s partner in Iti-1, ASX-listed Global Petroleum, has decided to maintain its interest in the acreage by funding 25 per cent of the costs of Avivi-1. This is important because Global had the right to pull out of the programme after the Iti-1 duster, which it had largely funded. The fact the ASXgroup saw enough prospectivity to stay on board for a second well should provide some comfort for Tower backers spooked by the dry hole and the subsequent nose dive in the share price. The share price is still bumping along at less than 3 pence a share: the hope now is that the confirmed spud date will put a little momentum under the shares as drilling approaches.

ah yes oilbarrel, that great forum for self-promotion while masquerading as objective reportage

cynic sorry you missed the boat again!

i'm not ..... could say exactly the same to you re TLW! ..... at least with TLW the gamble, as is all so-called investing, was pretty minimal

cynic have made a 45% profit on this one in 2 months somewhat better than we could have made buying a "deadweight " share like TLW.

have you banked the profit? ... if not, then theoretical only.

as for me, haven't bothered to check what % i have made on TLW this financial year, but as margin is only 5%, i know i have banked well in excess of 100% along the way and probably a lot more ..... indeed, present holding (bought 12/11) is also showing 100%+ (paper!) - 750.00 on 652.75 outlay

stupid these % games aren't they!

cynic decided to take profit but may return in the New Year.

sensible chap

You will always wonder if you did the right thing halifax..........

Time will tell, as you well know it's all or nothing (much!) for those who stay.