breaking out in london

12.25 GBP = 25.21 AUD

* Stock Analysis suggested a pre-drill estimate of 55cps (predicted spud date mid May)

* Upon success at the Lti prospect (100m barrel potential) GBP will be worth over $2.20ps

* Over $5.00ps if follow up drilling at the Samba Prospect(100m barrel potential) is also successful

* High probability of success as Tullow Oil boast a 100% success rate in Uganda (8 from 8 wells commercially successful)

"Geochemistry field surveys have confirmed that there is almost certainly an active, mature hydrocarbon source and migration process taking place which substantially reduces remaining exploration risk. This has always been the main area of risk for exploration in the EA5 area so is very encouraging. Moreover, the samples taken have similar characteristics to surface seeps present in other areas of the Albertine Graben.

Some considerable encouragement can be drawn from the successful and continuing exploration programmes of Tullow Oil and Heritage Oil in Blocks 2 and 3 to the south of Tower's Block 5. Exploration drilling in Block 1 which is adjacent to Block 5 has also yielded a first discovery confirming a northward trend of prospectivity."

http://www.towerresources.co.uk/index.php?page=Uganda

JB