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

Well spud confirmation

http://www.asx.com.au/asxpdf/20090529/pdf/31htqz3gr6dfdg.pdf

It's shick or bust time folks, 3 weeks to drill one week to assess.

GBP is currently at a clear discount to TRP and have plenty of cash in hand, are shielded somewhat to failure and therefore a better bet that TRP if holding through drilling.

The hype is with TRP however

Good luck if you come on board either.

Proactive Investors Australia :- Global Petroleum spuds ITI-1 well in Uganda

Is TRP suffering the same as hoil? on a yoyo this morning, with unusually high volume of trades. 4mil +

Anybody any idea why the selling spree today? 14mil trades now

Balerboy No news on drill so panic

Read latest RNS.

still in will hold for the result.

no good panicing, lol will stay in as well but dosen't sound good. Must be doubt about the out come.

If oil had been found surely they would have said so, further testing and logging seems to indicate it's a duster. Hope I'm wrong for the sake of shareholders.

What does fluid sampling indicate ?, not being an expert, does this mean mud sampling and sorts ?.....sp all over the place and the market has almost dropped the sp like a duster....I'm in but what a gamble....could be hydrocarbons but not in commercial amounts and second well might be needed...all guesswork...and this would have to turn into a long term investment for me anyway !.

If it is a total duster, then there has been a leak because this has dropped all of a sudden on no news....though surely testing and sampling to my mind seems to indicate that they have found something but what ?...perhaps not in commercial quantities but a second well might be in the running...any views ?.

Might be a complete numscull but have taken a gamble and bought a few more.....
stupid boy!!

Fall in sp suggests they may have struck water.

...or they are negotiating the promulgation of the results with the Powers That Be, which is nobody in Uganda. If anything of significance is found, rest assured it will be political and need this kind of 'negotiation'.

Still a gamble though, good luck if you have de bawls for it.

I'm going to enjoy the weekend then come monday be positive and think nice thoughts about trp.

We must hope that they will drill the Sambi well......though the cost to Tower is obscure in the event that there is nothing at all in the first one.....no oil at all and Global pulling out of the second well will just leave the Namibia project and even though the prospects could be fantastic...still some way off.....!.

Tower comes up dry in Uganda
Business Financial Newswire


Tower Resources has abandoned its Iti-1 exploration well in the West Nile region of Uganda after drilling produced only limited quantities of oil.

The company says re-evaluation of the data will be undertaken to determine a more prospective location for a second well. 'The lack of reservoir at this location could not justify further testing or the immediate move to drill a second well.'

Tower chairman Peter Kingston said, 'The result is very disappointing for everyone involved, not least the people of West Nile. However, this is a very large licence and there is every chance that far better reservoir sand quality can be found elsewhere in EA5.'

So much for the low risk well !....time to put these to one side for some time until they decide to drill again or farm out the Namibia assets...

I must congratulate TRP for keeping the result a secret until this morning....I like the way that the market had no idea at all that this was a dud well......a few things to look into here !.