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Tower Provides Operations Update in Namibia

Source: www.gulfoilandgas.com 3/23/2010, Location: Africa

Tower Resources plc announces that the Namibian 3-D seismic survey is now scheduled to begin early in May but it is still expected that processing and interpretation can be completed around the end of 2010. There is no change to the estimated end 2011 date for drilling the first exploration well. There will likely be growing focus on the northern area of Namibia and the prospectivity of the 0010 Licence during 2010.

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."

In accordance with AIM guidelines, Peter Kingston, who is a petroleum reservoir engineer with over 40 years experience in technical, executive and advisory roles in the oil exploration and production industry, and is Executive Chairman of the Company, is the qualified person that has reviewed and approved the technical information contained in this announcement.

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Related Categories: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 

Related Articles: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 


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