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Tower Resources secures rig ahead of planned drilling in Uganda in February

18 December 2009

Tower Resources, the oil and gas exploration company with interests in sub-Saharan Africa, today said it had agreed a rig contract for the Avivi-1 exploration well in Uganda and that it was confident of getting drilling under way by February 1, 2010.

Towers Ugandan operation, Neptune Petroleum has signed a land rig deal with oil and gas group Cracow Ltd to drill the Avivi-1 well in Exploration Area 5 (EA5). In June this year Neptune drilled its first well on the licence Iti-1 which has since been judged to have missed its target because of an unlucky choice of well location.

Drilling Avivi-1 will begin after full environmental impact assessment (EIA) approval and consent to drill has been received but Neptune is confident that this can be achieved to meet the February 1 spud date.

The OGEC IDECO IRI-750 rig, which is in Uganda, has been engaged in a substantial and effective recent drilling programme in licences EA1 and EA2 which included 15 wells and all were mechanically successful. The crew, therefore, also has considerable experience of drilling in the Albertine Graben of Uganda.

The Avivi-1 well has a primary stratigraphic target interval below 702m and a secondary target interval which is immediately above expected basement at a depth of 833m. The higher interval is targeted to encounter high quality fluvial sandstones, similar to those found in the successful wells in licence EA1, adjacent to EA5, but which were absent in the Iti-1 well. The deeper prospective interval may have alluvial sandstones similar to those encountered in the basal reservoir at Iti-1, but of improved quality. It is anticipated that the well will take about two weeks to drill to total depth.

http://www.smallcapnews.co.uk/article/Tower_Resources_secures_rig_ahead_of_planned_drilling_in_Uganda_in_February/8045.aspx

JB