Tower Resources Iti-1 well abandoned

15th Jun 2009 07:39

Oil explorer Tower Resources said it did not encounter any producible reservoir sands at the Iti-1 exploration well in Uganda Licence EA5."Minor hydrocarbon shows were monitored during drilling but evidence of limited quantities of oil in the lowermost target horizon remained ambiguous in the subsequent down-hole well logs and pressure test data," said the group.The group said neither of these observations has any relevance to the commercial viability of this well but may have wider exploration significance. It said the lack of reservoir at this location could not justify further testing or the immediate move to drill a second well."The result is very disappointing for everyone involved, not least the people of West Nile. However, this is a very large Licence and there is every chance that far better reservoir sand quality can be found elsewhere in EA5. There is much to learn from this first well which will help with future exploration activities on the Licence," said chairman Peter Kingston.Global Petroleum, which has an interest in the the EA5 Licence area, also noted the development.