Uganda Update

RNS Number : 9275V

Global Petroleum Ltd

20 July 2009

 



20 July 2009

RNS AIM release

UGANDA UPDATE

Global Petroleum Limited advises that its joint venture partner, Tower Resources plc, has provided an update in relation to activities in Uganda Licence EA5. A copy of the release is below:

Enquiries:

Global Petroleum Limited
Shane Cranswick	Tel	+ 61 8 9322 6322
	Email	[e-mail]
Astair Securities Plc (Nominated Adviser and Broker)
William Vandyk	Tel	[phone]

PRESS RELEASE

20 July 2009

Uganda Update

Tower Resources plc ('Tower' or the 'Company')

Tower is pleased to give the following update on activities in Uganda Licence EA5.

A number of specialist external consultants alongside our technical team are contributing to a re-evaluation of Exploration Area 5 following the drilling of the Iti-1 well. This work includes a comprehensive evaluation of the Iti-1 well data; a re-evaluation of all geophysical data; and an update to basin modelling work which is ongoing and is expected to conclude in September. At that time a comprehensive update will be issued to the market which will include details of the future operational programme. 

In accordance with AIM guidelines, Peter Kingston, who is a petroleum reservoir engineer with over 40 years experience in technical, executive and advisory roles in the oil exploration and production industry, and is Executive Chairman of the Company, is the qualified person that has reviewed and approved the technical information contained in this announcement. 

Contacts:

Tower Resources plc	www.towerresources.co.uk
Peter Kingston, Chairman	07802 804852
Astaire Securities (NOMAD and Broker)
Andrew Raca (NOMAD)	020 7448 4400
Jerry Keen (Corporate Broking)	020 7448 4492
Fox Davies Capital
David Poraj-Wilczynski / Oliver Stansfield	020 7936 5230
Aquila Financial Limited (PR)	www.aquila-financial.com
Peter Reilly	0118 979 4100

 

END

 

 

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