Uchenna Izundu
International Editor
LONDON, Mar. 22 -- Tower Resources PLC plans to drill two exploration wells on Block EA5 in western Uganda by 2008 and may also drill a contingent well under the second exploration phase of its Ugandan license. The government also has extended the company's initial exploration period for another 6 months, meaning the license will now end on Mar. 28, 2008.
Tower Resources will shoot a 250 km, 2D seismic survey in July and hopes to drill the exploration wells in first half 2008. The extension of its license will "facilitate optimum management of the seismic program and implementation of an early exploration well," Tower said.
Tower said the drilling program was appropriate, given the recent success in other similar licenses in the Rift Valley, in reference to Heritage Oil Corp.'s oil find in nearby acreage; Heritage is operator of the Kingfisher-1 exploration well in Uganda (OGJ Online, Feb. 16, 2007).
Tower's onshore block covers 6,040 sq km and has Tertiary rift sediments that hold oil and gas-bearing segments to the south. The company said the main exploration risk for the unexplored block is the thermal maturity of source rocks.
Contact Uchenna Izundu at [email protected].