Tower Resources, the oil and gas exploration company, is pleased to announce that the Company has completed the acquisition of Comet Petroleum Ltd (‘Comet’).

Description of Comet

Comet Petroleum is the 50% holder of two exploration licences in the SADR originally awarded in March 2006. Other parties to the licences are Maghreb Exploration Limited (10%) and Osceola Hydrocarbons Limited (40%).

The basin is one of very few West African basins to be left essentially unexplored in modern times, and lies adjacent to the proven petroleum productive basins of Mauritania.

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