Tower Resources confirms location for next exploration well in Uganda
09 November 2009
Tower Resources, the oil and gas group with interests in Uganda and Namibia, has agreed the site of its second exploration well in Uganda with the country’s government. Planning is now underway to begin drilling by February 1, 2010.
The new well – Avivi-1 – is to be located 3km northwest of Rhino Camp town in Tower’s Uganda Licence EA5. The well has a primary stratigraphic target interval below 665m and a secondary target interval which is immediately above expected basement at a depth of 795m.
The higher interval is targeted to encounter high quality fluvial sandstones, similar to those found in the successful wells in Licence EA1, adjacent to EA5, but which were absent in Tower's first exploration well, Iti-1. The deeper prospective interval may have productive alluvial sandstones similar to those encountered in the basal reservoir at Iti-1.
Australian oil and gas group Global Petroleum, which funded most of the cost of Iti-1, has decided to maintain its option to earn a 25% stake in the licence by funding 25% of the cost of Avivi-1. Tower said the funding of the well was fully secured and it was not planning to introduce additional partners.
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