The exploration for and development of natural resources is an inherently highly speculative activity which involves a high degree of risk and in addition there are specific country risks in which Tower operates or hold license interests. These risks are regularly assessed by the Board at either a corporate level or on a specific project basis to mitigate those risks which include, amongst others, geological/sub- surface, operational, commercial, commodity pricing, currency, geopolitical, security and funding risks.
Tower’s technical and sub-surface risks are mitigated further via a strategic alliance with EPI Group Limited (“EPI”) which provides an outsourced exploration department. EPI can provide Tower with New Ventures, Exploration and Development work across the world and has specific expertise in the fields of prospect evaluation, reservoir geology, well evaluation, seismic mapping, structural geology, sequence stratigraphy, field geology, basin modelling and the full spectrum of seismic acquisition management and processing operations. The exploration team has the capability and reach to provide a full range of exploration geoscience expertise and is fully integrated into the management team at Tower Resources providing asset management and new ventures high-grading capabilities.