The Iti-1 drilling site: in Uganda
Iti-1 probe a flop for Tower
The Iti-1 wildcat well in northern Ugandan licence EA5 has failed to deliver positive results for UK listed explorer Tower Resources.
The well, which was drilled to a total depth of 592 metres, did not hit any producible reservoir sands at the Iti-1 site.
Minor hydrocarbon shows were monitored during drilling but evidence of limited quantities of oil in the lowermost target horizon remained ambiguous in the subsequent down-hole well logs and pressure test data, Tower said.
Tower added a complete re-evaluation of the well data, combined with all other available technical data, will be undertaken as a priority to determine a more prospective site for a second well.
The lack of reservoir at this site could not justify further testing or the immediate move to drill a second well.
“The result is very disappointing for everyone involved, not least the people of West Nile. However, this is a very large licence and there is every chance that far better reservoir sand quality can be found elsewhere in EA5,” Tower’s chairman Peter Kingston said in a statement released today.