Tower notes the recent movement in its share price and can confirm that the Directors are unaware of any reason directly related to Tower’s activities for the movement.

As previously announced, a number of specialist external consultants alongside our technical team are contributing to a re-evaluation of Exploration Area 5, in Uganda, following the drilling of the Iti-1 well. This work is ongoing and is expected to conclude in the second half of September. At that time a comprehensive update will be issued to the market.