Company Information for Tower Resources plc

AIM-TRP

www.towerresources.co.uk

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AIM; TRP

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Company Statement

Tower Resources plc is an AIM-listed, London-based, independent oil and gas exploration company with a regional focus on sub-Saharan Africa. The Company secured exclusive rights an 100 per cent interest in an exploration licence in Uganda before farming down an initial 25 per cent interest to ASX listed Global Petroleum. In Namibia there is a carried 15 per cent Licence interest.

While the focus is currently on Uganda and Namibia, the Company has acquired Comet Petroleum Limited which is the 50 per cent holder of two exploration licences in the Saharawi Arab Democratic Republic, and is in negotiation with the relevant authorities for an exploration licence covering Lakes Eyasi, Wembere, Natron and Manyara in the north east of Tanzania.

Operations and Technology

Tower, currently owns interests in two active exploration projects in sub-Saharan Africa. One, a 15 per cent carried working interest, consists of three contiguous exploration licences offshore Namibia and the other, a 75 per cent working interest in an onshore exploration block in Uganda.

Namibia Project
Blocks 1910A, 1911 and 2011A cover an area of approximately 22,000 sq km offshore Namibia, in water depths ranging from 200 to 3,000 metres.

It is thought that the basins were formed in response to a thermal subsidence and shift in plate location, preceding the separation of the tectonic plates of Africa from South America.

Few wells have been drilled in the area to date, but the presence of oil-prone source rocks, potential reservoirs and the totally unexplored nature of the deeper water suggests this could be an attractive frontier play. The results of detailed studies indicate that potential reserves could be commercially significant.

Uganda Project
Block EA5 covers an area of approximately 6,000 sq km. The area is onshore covering the northern part of the Albertine Graben, part of the East African Rift Valley, located in the northwest of Uganda.

The main exploration objectives in EA5 are in the shallow (less than 1500 metres) Tertiary rift sediments which have been found to be oil and gas bearing less than 100km to the south of Block 5. Several discoveries have been made in prospects less than 1000 metres below surface. Furthermore, with the area being fairly flat savannah terrain, exploration activity is expected to be relatively straight forward. Towards the end of 2009 and early in 2010 Tower was involved in a two well exploration programme.

Board of Directors and Key Management

Executive Chairman	Peter Kingston
Non-Executive Director	Peter Taylor
Non-Executive Director	Peter Blakey
Non-Executive Director	Mark Savage
Non-Executive Director	Jeremy Asher

Company Address

5 Charterhouse Square
London, United Kingdom EC1M 6PX


Telephone:	+44 (0)20 7253 6639
Facsimile:	+44 (0)20 7867 8787
Email:	neptune[at]tmworldwide.co.uk
Website:	http://www.towerresources.co.uk

Additional Address/Key Contact

IR Contact:
Aquila Financial Limited
Tel: 44(0)118 979 4100
www.aquila-financial.com
Contact: Peter Reilly

Capital

The current number of shares in issue as at 1 May 2009 is 657,162,756

Nominated Brokers

Astaire Securities plc
30 Old Broad Street
London EC2N 1HT

Westhouse Securities Limited
One Angel Court
London EC2R 7HJ

Nominated Advisors

Astaire Securities plc
30 Old Broad Street
London EC2N 1HT

Major Shareholders

Bayview Investments LLC	100,000,000	15.22%
Mr Peter Taylor	62,935,772	9.58%
Mr Peter Blakey	62,935,772	9.58%
Agile Energy Limited	61,866,667	9.41%
Mr Ronald Bruce Rowan	52,310,000	3.80%
TD Waterhouse Nominees Ltd	24,902,318	3.79%

Most Recent Statement

01/03/10 - Tower Resources completes and abandons Avivi-1
15/02/10 - Uganda - Avivi-1 Exploration Well spud
20/01/10 - Westhouse Securities appointed as Joint Broker
18/12/09 - Uganda - Rig contracted for Avivi-1
09/11/09 - Uganda - Avivi-1 Well Location
29/09/09 - Placing to raise £7m

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