Orca to farm-in in Uganda

摘要

Tower Resources and Orca Exploration have struck a deal for Orca to earn a 50% stake in Exploration Area 5 in northwestern Uganda by funding 83.33% of the expected cost of a commitment programme of seismic and two exploration. On completion of the interpretation of the seismic data, Orca will have the exclusive option to be assigned a 50% working licence interest in return for continuing to fund 83.33% of two exploration wells, expected to begin in mid-2008.