The license area, after relinquishment agreed with the government, amounts to 2941sqkm. Exploration will now continue for another two years until March 2012, the company said.
The forward program is under discussion with the government, but the first year of activities is expected to be focused on geophysical operations to determine prospects for drilling early in the second year.
Tower Resources is a London-based independent oil and gas exploration company with a regional focus on sub-Saharan Africa. The company holds a 100% exploration license in Uganda and a carried 15% license interest in Namibia through its two operating subsidiaries: Neptune Petroleum (Uganda) and Neptune Petroleum (Namibia).
