8 April 2008
Tower Resources Plc: Final Results for the 12 Months Ended 31 December 2007
Tower Resources plc ('Tower' or 'the Company'), the AIM-listed oil and gas exploration and production company today announces its final results for the 12 months ended 31 December 2007.
Highlights:
Uganda
 2D seismic survey completed early 2008
Two wells planned to be drilled in 2008
Costs largely covered by farmout agreement
Namibia
2D seismic survey completed
Giant structures identified as viable exploration targets
First exploration well may now be drilled in 2009
Costs covered by farmout agreement
Commenting on the results, Peter Kingston, Executive Chairman of Tower said:
"Year 2007 saw progress with seismic surveys in Uganda and Namibia and Tower Resources is now entering an exciting 1-2 year period during which the potential of its current two Licences in Namibia and Uganda will be tested by wells. The potential of each licence is such that a successful exploration well in either would be classed as a "company maker".
The Board is also hoping to add a limited number of new ventures during the course of 2008."
For further information, please contact:
Tower Resources plc
www.towerresources.co.uk
Peter Kingston, Executive Chairman 01985 211780
Blue Oar Securities
020 7448 4400
Aquila Financial Limited
www.aquila-financial.com
Peter Reilly 0118 979 4100
Download press release in full (inc financial statements)
[PDF, 84KB]
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