UK's FSA Fines Father, Son For Dealing On Inside Information
19th Jul 2010 11:00
LONDON (Dow Jones)--The U.K. Financial Services Authority Monday said it fined a father and son for trading on inside information about small cap oil explorer Tower Resources PLC (TRP.LN). Jeremy Burley was fined GBP144,200 and his father Jeffery was fined GBP35,000 for engaging in market abuse,
Read moreLondon close: Footsie powers forward
8th Jul 2010 16:59
Footsie's strong recovery continued for a third day with the blue chip index closing above 5,100 driven by buoyant financial services companies. The index is up by more than 300 points this week and to its highest in nine days. Growing optimism about the European bank stress tests and yesterday's
Read moreLondon afternoon: Footsie on fire
8th Jul 2010 14:13
Bullish banks and rising commodity prices have sparked a fresh rally, taking this week's recovery near to 300 points and the leading index to its highest in nine days. Growing optimism about the European bank stress tests and yesterday's forecast upgrade by American peer State Street had buyers all
Read moreLondon midday: Banks buoyed by IMF report
8th Jul 2010 12:03
Leading shares resumed their upward trek late in the morning session, with banks leading the advance ahead of the announcement of the Bank of England's rate decision announcement. The Bank kept interest rates unchanged at 0.5%, as expected Buyers have been chasing bank prices higher after the Inter
Read moreTower Resources climbs on resource estimate
8th Jul 2010 09:00
There was good news for shareholders of sub-Saharan Africa focused oil and gas explorer Tower Resources in the form of a resource estimate for its Namibia Licence 0010. Independent consultancy Oilfield International has estimated that the net risked prospective resources attributable to Tower's 15%
Read moreTower Resources Namibia 3-D Seismic Produces First Recordings
8th Jul 2010 07:26
LONDON (Dow Jones)--Tower Resources PLC (TRP.LN), an oil and gas exploration company with interests in sub-Saharan Africa, said Thursday that the 3-D seismic survey being undertaken by the "Geowave Master" at the 0010 License, Namibia, produced its first seismic recordings on July 2 in fair weather
Read moreUganda Minister Outlines Oil Production Deals To Parliament
30th Jun 2010 09:34
KAMPALA, Uganda (Dow Jones)--Uganda's energy and minerals development minister has outlined the country's oil production-sharing agreements with private oil exploration companies to parliament Tuesday, yielding to persistent demands for details of the agreements by lawmakers. The agreements stip
Read moreTower Resources Uganda Survey Collects 66% Of Programmed Data
29th Jun 2010 07:27
LONDON (Dow Jones)--Tower Resources PLC (TRP.LN), an oil and gas exploration company with interests in sub-Saharan Africa, principally in Uganda and Namibia, said Tuesday that in Uganda, the aero gravity gradiometry survey, after collecting first data on June 14, has, at the end of operations on Ju
Read moreGlobal Petroleum strikes deal with Tower Resources
25th Jun 2010 13:45
Oil company Global Petroleum has signed an agreement with Tower Resources whereby Global will have a continuing option to participate in the Uganda project while having no current obligation to contribute to ongoing expenditure. Global has been granted the right to convert its investment in the pr
Read moreGlobal Petroleum Reaches Pact With Tower Resources For Uganda Project
25th Jun 2010 09:26
LONDON (Dow Jones)--Global Petroleum Ltd (GBP.AU), an Australian based oil and gas company, said Friday it has reached agreement with Neptune Petroleum (Uganda) Ltd, a subsidiary of Tower Resources PLC (TRP.LN), whereby Global will have a continuing option to participate in the Uganda project whilst
Read moreTower Resources Makes Deal With Global On Uganda Project
25th Jun 2010 07:17
LONDON (Dow Jones)--Tower Resources PLC (TRP.LN), an independent oil and gas exploration company, said Friday it has reached agreement with Global Petroleum Ltd. (GBP.AU) whereby Global will have a continuing option to participate in the Uganda project whilst having no current obligation to contribu
Read moreUganda's Bunyoro Kingdom Wants Oil Revenues To Address Imbalances
11th Jun 2010 10:28
By Nicholas Bariyo Special to DOW JONES NEWSWIRES KAMPALA, Uganda (Dow Jones)--Uganda's Bunyoro Kitara Kingdom wants to be given legal rights to share oil revenues with the central government once production starts, to enable it address development bottlenecks that have caused historical imb
Read moreUganda Oil Investments Hit $900M, To Pass New Oil Law -Fin Min
10th Jun 2010 16:55
KAMPALA, Uganda (Dow Jones)--Investments in Uganda's oil sector have hit up to $900 million as extensive oil exploration activities in the sector since 2006 continue, Uganda's finance and planning minister said Thursday. In a budget speech, Syda Bumba said more investments are anticipated as the
Read moreSmall caps round-up: Tower Resources, Global Petroleum, Norseman Gold
24th Feb 2010 09:44
Shares in Global Petroleum and Tower Resources slumped after the companies reported that the Avivi-1 well in Uganda had reached its total depth without showing any oil. Avivi-1 is owned by Tower, while Global has an option to earn a 25% interest in the licence, by funding 25% of the costs. 'Electr
Read moreTower 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 subs
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