The Rhino Camp Basin- first well 100 million barrel...

The Rhino Camp Basin- first well 100 million barrel potential

"Overall, the full results of seismic and field work have identified at least two structures, each, in the opinion of the directors, having 100 million barrel potential and there are a large number of smaller leads and prospects which require further data to fully define.

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.

Global Petroleum Limited has agreed to farm-in to a 50% interest Exploration Area 5 by meeting the cost of the two exploration wells."

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

The below information is from Tullow Oil which hold acreage to the south of GBP (Block 1 is adjacent to GBP's Block 5) and boast a 100% success record!




"In 2008, onshore drilling activity has focused on the Butiaba area of blocks 1 and 2 where upside potential of over a billion barrels had been identified and eight wells have so far been drilled, all encountering hydrocarbons. Of particular significance is the Victoria Nile delta play where six discoveries have been made including Buffalo-Giraffe, the largest discovery in the basin to date. This discovery in Block 1 has a continuous oil column of 140 metres and very high quality sandstone reservoirs. The scale of the recent discoveries in the Butiaba area has confirmed the Group’s view that this is a major hydrocarbon province in its own right within the Lake Albert Rift Basin."

http://www.tullowoil.com/tlw/operations/af/uganda/

JB