Tower is pleased to give the following update on activities in Uganda Licence EA5.
A number of specialist external consultants alongside our technical team are contributing to a re-evaluation of Exploration Area 5 following the drilling of the Iti-1 well. This work includes a comprehensive evaluation of the Iti-1 well data; a re-evaluation of all geophysical data; and an update to basin modelling work which is ongoing and is expected to conclude in September. At that time a comprehensive update will be issued to the market which will include details of the future operational programme.
In accordance with AIM guidelines, Peter Kingston, who is a petroleum reservoir engineer with over 40 years experience in technical, executive and advisory roles in the oil exploration and production industry, and is Executive Chairman of the Company, is the qualified person that has reviewed and approved the technical information contained in this announcement.