Barney Gray came into the London South East studio today to discuss the latest news from Tower Resources, Core Energy, the Colter Well, Reabold Resources and United Oil and Gas. Barney is an independant oil analyst who works with Turner Pope and Optiva Securities amongst others, often publishing paid-for research on these companies.

He started off by giving us the three magic ingredients he looks for in an investment: strong management with lost of Oil Major experience, a strong and mixed set of assets including near term, appraisal and development potential and a clear exit strategy.

We discussed Tower's good fortune to be located next to Total's new and potentially world class gas find, offshore South Africa, which may give the Tower team a potentially sellable asset. And the prospects for the Thalia Block, due to be drilled Q2 when the funding has been sorted out. 'This is a very nice little asset' said Barney.