Operational Update & Placing

Tower Resources PLC
08 February 2007

PRESS RELEASE
8 February 2007

                    Update on Company Activities and Placing

• Uganda
    o 2D Seismic survey to commence in July with a view to drilling in 2008
    o Other Operators reporting exploration success

• Namibia
    o Reprocessed data highlighted potential for commercial gas reserves
    o 2D Seismic survey in planning for late 2007

• Placing
    o £500,000 raised in Placing of New Ordinary Shares

Tower Resources plc ('Tower' or 'the Company') (AIM: TRP), the independent oil
and gas exploration company with exploration licences in Uganda and Namibia is
pleased to report that good progress has been made with operational planning in
Uganda and detailed technical evaluation work for Namibia. These assets were
acquired by Tower in a merger with Neptune Petroleum Limited approved by
shareholders on 16 January, 2006.


Uganda

In Uganda, a Land Satellite Imaging survey and a geological field survey are
currently underway to investigate the presence or otherwise of surface oil
seeps. The presence of seeps would confirm that oil has been generated under
Block 5; however the lack of seeps would not significantly reduce the
prospectivity of the Licence. A contract has been signed with IMC Geophysical
International Limited under which they will acquire 250 kilometres of seismic
data. This operation is estimated to begin in July. The intention is to complete
the interpretation of this data and to begin drilling a well early in 2008,
planning for which will begin soon.

Other operators in Licences to the south of Block 5 have continued to have
success. Tullow, now 100% owner of Block 2, has confirmed two discoveries and
Heritage, Block 3A, has encountered productive oil reservoirs at two depth
levels in Kingfisher-1. The latter well is still drilling to evaluate a large
structure in the deeper area of their basin. Tullow, northern Block 2, and
Heritage, Block 1, both have plans to extend their seismic coverage towards the
southern boundary of Block 5. Tullow have announced plans for a significant
exploration and appraisal well programme in Block 2, including wells in the
north of the Licence. These programmes, when added to Tower's own activities,
will amount to a significant assessment of the potential of the Albertine
Graben. This will increase the likelihood of proving up sufficient oil reserves
to support a pipeline from the operational areas. It also means that there will
be regular news flow, throughout 2007, as exploration in Uganda proceeds.


Namibia

In Namibia, a geochemical study to assess source rock maturity and a sea surface
oil seeps survey by satellite imaging, were completed. The geochemical
assessment has confirmed that three out of four potential source rocks are
likely to be mature with significant areas at peak maturity. The seep study has
indicated the possible presence of natural liquid hydrocarbons slicks at
surface, to the south and east of the Dolphin Graben (the deepest sedimentary
sequence in the Licence). It was decided to investigate specific aspects of
interest arising from the initial evaluation programme in more detail by
undertaking reprocessing and AVO analysis of six selected seismic lines. This
detailed assessment was designed to improve the interpretation of gas
indications in prospective structures. These analyses have highlighted the
potential for commercial gas reserves in the northern part of the Licence,
particularly in a very large structure to the west of, but adjacent to the
deepest 'kitchen' area of the Dolphin Graben. The immediate exploration
programme, including a 2-D seismic survey later this year, will be directed at
investigating the potential of this structure.


Placing of new ordinary shares

The Company today announces that it has raised £500,000 through the issue of
25,000,000 new ordinary shares ('Placing Shares') to an existing institutional
shareholder at a price of 2p per ordinary share.

This follows on from the issue of new ordinary shares at the same price, to
Agile Energy Limited, which was first announced to the market on 21 December
2006. The funds will be used for the development of its existing oil and gas
assets, the expansion of its oil and gas portfolio and for general working
capital purposes.

Application has been made for the Placing Shares to be admitted to trading on
AIM and dealings are expected to commence at 8.00 a.m. on 13 February 2007.
Following the admission of the Placing Shares the total number of voting rights
in the Company will be 458,333,333. Tower does not hold any ordinary shares in
Treasury.

The above figure (458,333,333) may be used by shareholders as the denominator
for the calculations by which they will determine if they are required to notify
their interest in, or a change to their interest in, Tower under the FSA's
Disclosure and Transparency Rules.

Tower Resources Executive Chairman, Peter Kingston, said

'We have made distinct progress in evaluating the potential of our exploration
acreage in Uganda and Namibia during 2006. In 2007, we anticipate undertaking 2D
seismic surveys in particular areas of interest with a view to be drilling in
Uganda in 2008. Further updates will be provided at regular intervals as
material progress is made in both operations.'

For further information, please contact:

Tower Resources plc
Peter Kingston, Executive Director             01985 211780
                                               www.towerresources.co.uk

Corporate Synergy
John Prior                                     020 7448 4400

Aquila Financial Limited
Peter Reilly/Ross Bethell                      020 7202 2600
                                               www.aquila-financial.com




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