Tower Resources Company News

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Africa-Focused Energy Companies Prioritize Cost Savings
Monday, March 07, 2016Sasol and Tower Resources reveal their intentions to prioritize cost savings in 2016 amid the low oil price environment.

Tower Pulls Out of South Africa Project
Tuesday, February 16, 2016Tower Resources plc will exit the South West Orange Basin Technical Co-operation Permit offshore South Africa in an effort to "move towards a more balanced portfolio of proven and emerging basins".

Tower Resources Director Retires
Friday, February 05, 2016Tower Resources Non-Executive Director Peter Blakey retires from the company's board.

Tower Resources Enters Cameroon with Thali PSC
Wednesday, September 16, 2015Tower Resources will be exploring offshore Cameroon from 2016 after signing the Thali Production Sharing Contract at the offices of Societe Nationale des Hydrocarbures in Yaounde.

Premier Oil Exits Onshore Block 2B in Kenya
Friday, May 29, 2015Premier Oil withdraws from onshore Block 2B in Kenya.

Taipan Resources Spuds Onshore Badada-1 Well in Kenya's Block 2B
Thursday, January 08, 2015Taipan Resources spuds the onshore Badada-1 well in Block 2B in Kenya.

Repsol Namibia Well Comes Up Dry
Friday, June 13, 2014Repsol's Welwitschia-1A well, located in the PEL0010 license offshore Namibia, comes up dry.

Tower Resources Completes Farm-in to a 15% Stake in Kenya's Block 2B
Wednesday, June 04, 2014Tower Resources completes farm-in to a 15 percent stake in onshore Block 2B in Kenya.

Tower Welcomes Murombe-1 Result
Monday, July 22, 2013Tower Resources welcomes news that Murombe-1 well offshore Namibia has reconfirmed the presence of an Aptian marine source in the Walvis Basin.

Repsol Namibian Well to Spud February 2014
Friday, July 05, 2013Tower Resources, junior partner to Repsol in the Walvis Basin, offshore Namibia, reveals that the drilling of the Welwitschia-1 well will begin in February next year.

Tower Resources Doubles Stake Offshore Namibia
Monday, July 30, 2012Tower Resources announces that Repsol has agreed to take a 44% working interest in the Namibian offshore license 0010 and the related petroleum agreement and become operator.

E&P Companies Explore Offshore Namibia's Hydrocarbon Potential
Friday, June 29, 2012Recent giant discoveries offshore West Africa, including the Jubilee discovery offshore Ghana and additional discoveries offshore Angola, have sparked new interest in the West Africa's Atlantic Margin.

Repsol Assumes Operatorship at Namibia License
Wednesday, June 06, 2012Repsol is planning to enter Namibian offshore license 0010 as operator.

Tower Appoints New CEO
Thursday, May 31, 2012Tower Resources plc announced the appointment of Graeme Thomson FCA as Chief Executive Officer.

Imminent Exploration to Determine Pre-Salt Opportunity
Friday, March 09, 2012Investment bank Westhouse Securities has highlighted drilling by London-listed junior explorers as being important dates in the pre-salt calendar.

Board Member Steps Down at Tower Resources
Wednesday, March 07, 2012Tower Resources plc confirmed that Peter Kingston, Chief Executive, has stepped down from the Board.

Tower Hits Duster in Uganda
Thursday, February 23, 2012The Africa-focused oil explorer is now likely to relinquish its license, and turn its attention to its interests in Namibia and Western Sahara.

Tower Resources Kicks Off Exploration at Uganda Well
Monday, February 13, 2012Tower Resources PLC confirmed that the Mvule-1 exploration well spud at 16.00 hours (GMT) on February 12, 2012.

Tower Resources Spuds Third Ugandan Well
Thursday, February 09, 2012Despite commencing drilling ops in Uganda, Tower has one eye on Namibian exploration well that will test five targets for up to nine billion barrels of oil equivalent.

Tower Resources Updates Uganda Financing
Friday, January 06, 2012Tower has entered into a Standby Equity Distribution Agreement and a SEDA-backed Loan Agreement with YA Global Master in order to provide flexibility over future funding.

Tower Resources, Saharawi Arab Democratic Republic Sign PSC
Monday, October 31, 2011Tower Resources and Wessex Exploration have signed with the Saharawi Arab Democratic Republic an Assurance Agreement for a Production Sharing Contract for the Imlili Block.

Tower Resources to Drill Uganda Well in 4Q
Tuesday, August 23, 2011"With the recently acquired seismic data we should be in a position to spud a well in Uganda in the fourth quarter of this year," said Peter Kingston.

Tower Resources Spies Hydrocarbons in Namibia
Wednesday, May 18, 2011"The 3-D seismic data acquired in Namibia has confirmed the exciting potential in the Delta Maastrichtian reservoir with very strong hydrocarbon indications being seen," said Peter Kingston.

Tower Resources Notes Seismic Ops in Namibia, Uganda Licenses
Wednesday, April 13, 2011Tower Resources provided an update on its current operations in each country, managed by wholly-owned subsidiaries Neptune Petroleum (Namibia) Limited and Neptune Petroleum (Uganda) Limited.

Tower Resources Updates Ops in Africa
Friday, February 11, 2011Tower Resources updated its current operations in Namibia and Uganda.

Tower Resources Notes Completion of Seismic Survey in Namibia
Wednesday, September 08, 2010Tower Resources announced that the Namibian seismic survey was completed on September 6.

Tower Resources Preps for Seismic Acquisition in Namibia
Tuesday, June 29, 2010Tower Resources reported Geowave Master arrived on location on Monday, June 28, and is preparing to begin the 3-D seismic acquisition program.

Tower Resources to Continue Exploration in Uganda
Tuesday, March 23, 2010Tower Resources announced Neptune Petroleum (Uganda), has applied to the Minister of Energy and Mineral Development, the Government of Uganda, to continue exploration of Licence EA5 into the Third Exploration Period.

Rig Shortage Delays Ugandan Drilling Programs
Friday, February 26, 2010A shortage of drilling rigs is hampering appraisals and drilling activities in oil fields in Uganda's Block 2 and Block 4B, the senior geologist at the petroleum exploration and production department said Friday.

Tower Reports Avivi-1 Spud Onshore Uganda
Monday, February 15, 2010The Avivi-1 exploration well, located onshore Uganda, commenced drilling over the weekend.

Tower Updates on African E&P Activities
Thursday, January 28, 2010Tower Resources, retaining interests in sub-Saharan Africa, has provided an update of current operations in Uganda and Namibia.

Avivi-1 Well Slated for Feb Spud in Uganda
Friday, January 22, 2010Global Petroleum reported that during the quarter, Tower signed a contract with OGEC for a land rig to drill the Avivi-1 exploration well in Exploration Area 5, Uganda.

Neptune Inks Rig Contract for Feb. 1 Spud in EA5, Uganda
Friday, December 18, 2009Neptune has signed a contract with OGEC for a land rig to drill the Avivi-1 exploration well in Exploration Area 5, Uganda.

Tower Resources Revises Conclusions for Iti-1
Monday, September 21, 2009A re-evaluation of the Iti-1 well found 15-20 meters of clean reservoir sands, with significant potential to contain oil just above basement between 540 and 575 meters.

Minister Says Ugandan Oil Contracts Will Remain Secret
Tuesday, August 11, 2009Uganda won't reveal details of its oil exploration and production sharing agreements with foreign companies because its bound by confidentiality clauses, according to the minister of energy and minerals development.

Tower Teams Up to Re-Evaluate Exploration Area 5 in Uganda
Monday, July 20, 2009Tower reported that a number of specialist external consultants alongside the company's technical team are contributing to a re-evaluation of Exploration Area 5 following the drilling of the Iti-1 well.

Oil Contract Rows Rock Uganda Ahead of Production
Wednesday, July 01, 2009The Ugandan government is embroiled in disputes over its failure to reveal the contents of contracts with oil-exploration companies operating in the country ahead of the start of oil production on the Ugandan side of the Albertine Rift.

Tower Resources Completes, Abandons Iti-1 in Uganda's EA5 License
Monday, June 15, 2009Tower Resources has completed operations on the Iti-1 exploration well in Uganda License EA5.

Tower Resources Spuds Iti-1 Exploration Well in Uganda
Friday, May 29, 2009Tower Resources confirmed that the Iti-1 exploration well spud yesterday, May 28.

Tower Resources Confirms Drilling Rig Mobilization for Iti-1 Well in Uganda
Thursday, May 14, 2009Tower Resources confirmed that the MBU-125 drilling rig imported from Southern Sudan for the Iti-1 well is on site and is being rigged up.

Uganda Bunyoro Kingdom Threatens Lawsuit over Oil Exploration
Monday, April 20, 2009Cultural leaders of Uganda's Bunyoro kingdom, located on the Ugandan side of the oil-rich Albertine rift, have threatened legal action against the central government over oil exploration and production activities there.

Neptune Petroleum Secures Rig for First Well in Uganda's EA5
Wednesday, April 08, 2009Neptune Petroleum has secured a mobile land rig to drill Iti-1, Neptune's first commitment well in Uganda License EA5.

Global Farms-In to Neptune's Exploration Area 5 in Uganda
Friday, February 13, 2009Uganda has approved Global Petroleum's farm-in of 50% interest in Neptune's Exploration Area 5.

Neptune Gets Thumbs Up to Prepare Drill Site at Uganda's Exploration Area 5
Wednesday, January 21, 2009Neptune Petroleum was granted approval to prepare the drill site for the Iti-1 well, which will be drilled in Uganda's Exploration Area 5, in advance of receiving a drilling rig.

Global Petroleum Farms-In to Tower's Ugandan EA5 Project
Monday, December 22, 2008Under the farmout agreement, Global has the right to earn a 50% interest in EA5, northwestern Uganda, by meeting the cost of two exploration commitment wells.

Tower Targets 2 Wells in Uganda, Orca Bows Out
Friday, August 01, 2008Tower reported that seismic interpretation and geochemical sampling is complete in Uganda and, on the basis of the subsequent interpretation, two well locations, one to be drilled to about 1000 meters and another at 500 meters, have been selected.

Tower Puts Finishing Touches on Comet Acquisition
Monday, June 16, 2008Tower Resources announced that the Company has completed the acquisition of Comet Petroleum. Comet held a number of properties in Africa. The consideration includes the release of 721,544 new shares at 6.542p a share.

Tower Resources Announces Update on Namibia and Uganda
Thursday, May 15, 2008Tower Resources provides the following update on its exploration activities in Namibia and Uganda, including positive seismic interpretations in the countries.

Tower Awarded Tanzania Exploration License
Tuesday, May 06, 2008Tower Resources plc announced that the Company has been successful in an application for an Exploration License covering Lakes Eyasi, Wembere, Natron and Manyara in the north east of Tanzania.

Tower Resources Says Ugandan 2D Survey Underway
Friday, December 07, 2007Tower Resources has commenced a 300 kilometer 2-D seismic exploration program in Exploration Area 5 ("EA 5") in Uganda.