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Namibia Update and Competent Persons Report08 Jul 10 Tower Resources plc (AIM:TRP), the oil and gas exploration company with interests in sub-Saharan Africa, principally in Uganda and Namibia, is pleased to provide a brief update of its current operations in Namibia and the outcome of a detailed technical and economic evaluation of the 0010 Licence. Tower has a 15% working interest in the Licence and is fully carried financially by Arcadia Petroleum Limited (“Arcadia”) through the current 3-D seismic survey and an initial exploration well. The Tower Board is pleased to announce that the 3-D seismic survey being undertaken by the “Geowave Master” produced its first seismic recordings on Friday 2nd July in fair weather conditions. It is still expected that processing and interpretation can be completed early in 2011. The Board is also pleased to issue a letter from Oilfield International (“OIL”) (attached and on the Tower Resources plc website) summarising the principal conclusions from their Competent Persons Report (“CPR”) which independently appraises the resource potential and Expected Monetary Value (“EMV”) of Tower’s 15% interest in Licence 0010. The conclusions set out in the CPR and the CPR letter are summarised below. OIL have estimated that the net risked prospective resources attributable to Tower’s 15% working interest of Namibia Licence 0010 is 170 million barrels of oil equivalent, having an EMV of US$ 696 million (UK£ 0.45/share) usw. http://www.towerresources.co.uk/TowerResources-OilandGasExpl… |
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| aus der Diskussion: | TOWER RESOURCES Mobile Drill Rig MBU-125 für Uganda Projekt gechartert |
| Autor (Datum des Eintrages): | Peratron (08.07.10 15:52:05) |
| Beitrag: | 115 von 132 (ID:39793856) |
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