Tower 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
Read moreTower says drilling outcome not determined yet
11th Jun 2009 15:22
Oil and gas explorer Tower Resources said the outcome of its drilling operations in its first exploration well in Uganda Licence EA5 cannot be determined yet. The group was forced to make a statement after it shares slid by more than 30%. Global Petroleum, which earns up to 50% interest from the li
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