From the dust…. Purely a speculation – Fancy a bit of easy money up to the New Year? Who doesn’t!

Tower Resources PLC are due to commence drilling February 2010 in Uganda and also in the run up to news on estimation spud in 30 days (or less) for Iti-1 well.  At 2.3p a share, AIM listed Tower Resources is high risk and a purely speculated exploration company. RNS from company website released this week confirms agreement and proposed project with Ugandan Government.

Why so cheap? Sentiment from back in June when TRP hit a duster caused massive selling and a drop from 7.5p to 2p and a repeat of the climb on drilling news will bring a possible 5p up to Feb and on discovery possible 15p.

A word of warning, failure to find oil will probably send the share price down to 0.5p – 1p so worth doing your own research beforehand.

click graph for larger view – opens in new window