Ach sooo Kursziel 15pounds innerhalb von 12 Monaten.
Liegt wohl an dem Drill Gerät das bald ansetzt.
High Impact Near Term News: Tower Resources has established an attractive set of prospects in Uganda, a region that has benefited from the recent discoveries of Heritage and Tullow which have transformed regional prospectivity. Tower is focusing its efforts on Block EA5 within the Albertine rift basin where it holds a 75% working interest. With drill targets identified and a rig secured, the company is intending to spud the first exploration well by late March 2009 targeting 100mmbbl. Tower is free carried through the first well. According to the company the block could contain over 225mmbbl of prospective resources.
Significant Exploration Upside: In Namibia, Tower is free carried on its 15% equity on a resource potential of 9.2bnbbl offshore prospects. Imminent catalysts include
the commencement of seismic in Q1 2009 with a view to spudding its first well in Namibia by Q2 2010.
Experience Counts: The management draws a wealth of experience from previous operating companies such as Enterprise Oil, Soco and Dana Petroleum and has a proven track record of transforming exploration opportunities into attractive acreage
for potential farminees, as well as delivering a pipeline of comparable opportunities in frontier exploration regions.
Limited Financial Risk: Having successfully mitigated financial obligations by farming down to meet its work obligations in both Uganda and Namibia the company is not financially exposed to capital intensive work programs in the current economic
climate. Tower currently has no debt and has a cash position of approximately $1.8m.
Value Transformation: We value the company against an African pure exploration play comparative peer group on net acreage, net risked prospective acreage and implied value on recent transactions and recommend a target price of £0.15/share.
The company’s near term newsflow and upside makes for a very compelling case for investors with an appetite for exploration plays in Africa to secure a position in a stock with limited downside and that trades at almost an 85% discount to our target price.
Ne Kleine News gabs auch noch.
02/13/09 Uganda - Ministerial Consent for Farm Out
Tower Resources plc, an AIM listed oil and gas exploration company and its wholly-owned subsidiary Neptune Petroleum (Uganda) Limited ("Neptune") announced on 22 December 2008 that they had reached agreement ("Farm Out Agreement") to farm out an interest in Neptune's Uganda acreage to Global Petroleum Limited ("Global"), an Australian based oil company quoted on ASX and AIM. Full details of the Farm Out Agreement were included in the announcement dated 22 December 2008.
The Farm Out Agreement was subject to the consent of the Minister of Energy and Mineral Development of the Government of the Republic of Uganda. This consent has now been received, and the Farm Out Agreement is unconditional in all respects.
Global has the right to earn a 50% interest in Exploration Area 5 ("EA5"), north-western Uganda, by meeting the cost of two exploration commitment wells.
Under the terms of the Farm Out Agreement, Global will earn a 50% interest in the EA5 Licence and Production Sharing Agreement by funding the cost of drilling Iti-1 (subject to a cap), the first well of a two well programme, and a second well at their discretion, currently expected to be Sambia-1, when the results of Iti-1 have been interpreted.
The Ministerial Consent allows Tower Resources and Global Petroleum to finalise the contractual and logistical negotiations for a drilling rig to begin drilling operations within the next two months. The first well is expected to be completed within two weeks of commencement of drilling.
Schön das es endlich los geht.
Und dann gibt es noch ein 2 Well dieses Jahr..tz tz up to the sky
|aus der Diskussion:||TOWER RESOURCES Mobile Drill Rig MBU-125 für Uganda Projekt gechartert|
|Autor (Datum des Eintrages):||Kursbrecher (16.02.09 10:14:03)|
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