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10/12/2007

Tower begins 2D seismic in Uganda

Story link: Tower begins 2D seismic in Uganda by Jo Black
Tower begins 2D seismic in Uganda

Tower Resources plc commences an approximately 300 kilometer 2-D seismic exploration programme in Exploration Area 5 (“EA 5”) in Uganda.

The seismic will be shot by IMC Geophysics International Limited over a sedimentary sequence with prospective structures in the Albertine Graben system that was identified by a regional gravity survey. The data is expected to be processed and interpreted by the end of Q1 2008.

The seismic is being shot under the terms of an agreement between Tower and Orca Exploration announced on 28 August 2007. On receipt of the fully interpreted seismic, Orca Exploration has the right to acquire a 50% working licence interest in EA 5 in return for funding 83.33% of two exploration wells.

 

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