Company Home Page

Company Profile

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.