Last checked at 20 Jul 2009 07:41
20 July 2009
RNS AIM release
UGANDA UPDATE
Global Petroleum Limited advises that its joint venture partner, Tower Resources plc, has provided an update in relation to activities in Uganda Licence EA5. A copy of the release is below:
Enquiries:
| Global Petroleum Limited | ||
| Shane Cranswick | Tel | + 61 8 9322 6322 |
| | global.info@globalpetroleum.com.au | |
| Astair Securities Plc (Nominated Adviser and Broker) | ||
| William Vandyk | Tel | +44 20 7448 4400 |
PRESS RELEASE
20 July 2009
Uganda Update
Tower Resources plc ("Tower" or the "Company")
Tower is pleased to give the following update on activities in Uganda Licence EA5.
A number of specialist external consultants alongside our technical team are contributing to a re-evaluation of Exploration Area 5 following the drilling of the Iti-1 well. This work includes a comprehensive evaluation of the Iti-1 well data; a re-evaluation of all geophysical data; and an update to basin modelling work which is ongoing and is expected to conclude in September. At that time a comprehensive update will be issued to the market which will include details of the future operational programme.
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.
Contacts:
| Tower Resources plc | www.towerresources.co.uk |
| Peter Kingston, Chairman | 07802 804852 |
| Astaire Securities (NOMAD and Broker) | |
| Andrew Raca (NOMAD) | 020 7448 4400 |
| Jerry Keen (Corporate Broking) | 020 7448 4492 |
| Fox Davies Capital | |
| David Poraj-Wilczynski / Oliver Stansfield | 020 7936 5230 |
| Aquila Financial Limited (PR) | www.aquila-financial.com |
| Peter Reilly | 0118 979 4100 |