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Last checked at 
2 Feb 2012 07:00
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2 February 2012
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Tower Resources PLC
("Tower" or the "Company")
Operational Update
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Tower Resources PLC ("Tower"), LN: TRP, the AIM listed company with exploration assets in offshore Namibia and Uganda, is pleased to provide an update on operational progress in Uganda, where the Mvule-1 well is now expected to spud within 6-9 days, i.e. between the 8th and 11th of February.
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Tower's wholly owned subsidiary, Neptune Petroleum (Uganda) Limited, has begun mobilisation of the OGEC K900 drilling rig to the Mvule-1 site. Preparation of the site is near completion and rigging up is about to begin. The well is anticipated to reach a total drilled depth of about 600 metres within two weeks of spud. A further update will be released once the well has spudded. The well is evaluating estimated recoverable resource potential of 80 million bbls.
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For more information on Tower, please visit www.towerresources.co.uk.Β
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Contacts:
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Tower Resources PLC | |
Peter Kingston, Chief Executive Officer Β | 07802 804852 Β |
Northland Capital Partners Limited (Nominated Adviser and Joint Broker) Gavin Burnell, Edward Hutton Β | 0207 796 8800 Β |
M Communications | |
Patrick d'Ancona, Chris McMahon, Andrew Benbow | 020 7920 2358 |
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