LONDON -- Tower Resources Plc. says it has made substantial progress with its operations in Uganda and Namibia this year.
In Uganda, Tower has begun seismic operations and anticipates drilling two wells next year.
Offshore Namibia, the company has completed a 700-km (435-mi) 2D seismic survey and has gathered what it considers to be very good quality data. A 3D seismic survey is planned for 2008.
"The board's optimism about potential achievements in both the Uganda and Namibia licenses has continued to grow during 2007 and this is now shared by two very strong partners," says Peter Kingston, Tower Resources executive chairman. "The next 18 months will be very exciting. In Uganda, a 2D seismic survey and two exploration wells should be completed by the end of 2008, whilst in Namibia, a program of 3D seismic surveys will hopefully be completed by the end of 2008.
"With both existing licenses largely funded, the board will now give greater priority to adding additional license interests, probably in Africa, to its portfolio."