Tower Resources plc announce that its subsidiary Rift Petroleum Ltd. ("Rift") has received updated resource estimates from its 50% partner and license Operator, New Age Energy Algoa (Pty) Ltd. ("New Age"), following NewAge's interpretation of the reprocessing of additional 2D seismic data covering the Algoa-Gamtoos license, offshore South Africa. The reprocessing work encompassed 4,500 line kms of 2D seismic data incorporating both data already owned by the partners and also further data acquired from the Petroleum Authority of South Africa ("PASA") including tie lines from Brulpadda to the Algoa-Gamtoos area, together with two post-stack merged 3D seismic surveys in the Algoa Basin. The work was undertaken by PGS and the focus was on creating a time and phase matched dataset covering the Gamtoos Basin and the Deepwater (Outeniqua basin) section of the license area. The resulting seismic dataset shows an overall improvement in bandwidth, de-noise and imaging. Structural imaging is substantially sharper than in the previous vintage dataset, gathers are significantly flatter with less noise, and the Operator places greater confidence in the Amplitude Versus Offset (AVO) analysis. The impact on what can be seen in the Deepwater (Outeniqua basin) section of the license is especially pronounced, allowing the Operator to identify a deeper level slope (as seen at Brulpadda) and three separate reservoir targets: A shallow section which was previously identified by the Operator, whose size is now estimated to be slightly larger, to which the Operator ascribes 470 million boe Pmean recoverable resources (unrisked); A deeper slope section which was not previously identified by the Operator, to which the Operator ascribes 231 million boe Pmean recoverable resources (unrisked); A basin floor fan section which was not previously identified by the Operator, to which the Operator ascribes 710 million boe Pmean recoverable resources (unrisked); In addition, the Operator has been able to identify a new substantial lead in a submarine fan complex in the shallow-water Gamtoos area of the license, which it estimates to contain 135 million boe Pmean recoverable resources (unrisked); and has updated its estimates of the recoverable resources in the other leads it has already identified, some of which now appear larger and others smaller. Overall, the Operator has increased the portfolio volumes by 54% as a result of reprocessing seismic data and reinterpretation.