High Impact Near Term News: Tower holds an attractive set of...

High Impact Near Term News: Tower holds an attractive set of exploration assets in Uganda, a region that has benefitted from the recent discoveries of Heritage and Tullow which have transformed regional prospectivity. In the immediate near term, Tower is focusing its efforts on
the Uganda Albertine rift basin Block EA5 where it holds a 75% working interest following farm down to Global Petroleum. According to the company the block could contain over 225mmbbl prospective resources. Having undertaken seismic survey and identified drill targets, gained access to a rig and benefitting from a recent third party independent audit on Block EA5, the company along with its farm-in partner Global Petroleum expect to commence spudding by late March 2009. Tower is free carried through the first well. According to the company the block could contain over 225mmbbl of prospective resources.

http://www.towerresources.co.uk/uploads/FDCInitiatingCoverageTowerResources_06Feb2009.pdf.pdf

JB