Tower Resources LSE...possibly 10 Billion barrels...in close proximity to ENG
posted on
May 16, 2008 08:30AM
If seismic interpretation has confirmed the presence of giant structures which could contain 10 BILLLION barrels unrisked from 3 prospects in northern offshore Namibia, the probabilitis for ENERGULF look to be equally as encouraging. If I've interpreted the NR correctly, then Towers blocks are only 150km south of Block 1711 (where for those of you new to this forum is the spot where ENG and its JV partners are currently drilling). This sort of data leads me to believe that ENG may have a much larger potential discovery than was originally thought (also multi billion barrels). Just picked up some more shares this morning...the risk reward is worth the "gamble" at this price level which I believe will be a lot higher in the next couple of weeks.