Business
Cameroon Operational Update
Cameroon Operational Update.
About this update from Tower Resources Plc
[{"type":"text","content":"\n \nRNS Number : 4016C Tower Resources PLC 10 February 2020 \n\n10 February 2020\nTower Resources plc\nCameroon Operational Update\nTower Resources plc (the \"Company\" or \"Tower\" (TRP.L, TRP LN)), the AIM-listed oil and gas company with its focus on Africa, is pleased to provide the following operational update on its work on the Thali licence in Cameroon, conducted through its wholly-owned subsidiary Tower Resources Cameroon SA.\nThe Geoquip Marine survey vessel MV Investigator completed its survey at the NJOM-3 well site on the Thali block offshore Cameroon on Friday 7 February 2020, drilling three boreholes to a depth of 80m with alternating sampling and PCPT (piezocone penetration tests). Although the analysis of the data will take some weeks, the Company's initial view is that the data from the three boreholes are consistent and in line with pre-survey expectations.\nMarket Abuse Regulation (MAR) Disclosure\nCertain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.\n \nContacts\n \n\n\n\nTower Resources plc\n\n\[email protected]\n\n\n\n\nJeremy Asher\nChairman and CEO \n\n\n\n\n\n\n\n \nAndrew Matharu\nVP - Corporate Affairs\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSP Angel Corporate Finance LLP\nNominated Adviser and Joint Broker\nStuart Gledhill\nCaroline Rowe \n\n\n+44 20 3470 0470\n\n\n\n\n\n\n\n\n\n\n\n\nTurner Pope Investments (TPI) Limited\nJoint Broker\nAndy Thacker \nZoe Alexander\n \n\n\n+44 20 3657 0050\n\n\n\n\nWhitman Howard Limited\nJoint Broker\nNick Lovering \n \n \n \n\n\n+44 20 7659 1234\n\n\n\nNotes:\nTower Resources Cameroon S.A, a wholly-owned subsidiary of Tower Resources plc, holds a 100% interest in the shallow water Thali (formerly known as \"Dissoni\") Production Sharing Contract (PSC), in the Rio del Rey basin, offshore Cameroon. Tower was awarded the PSC on 15 September 2015 for an Initial Exploration Period of 3 years.\nThe Thali PSC covers an area of 119.2 km², with water depths ranging from 8 to 48 metres, and lies in the prolific Rio del Rey basin, in the eastern part of the Niger Delta. The Rio del Rey basin has, to date, produced over one billion barrels of oil and has estimated remaining reserves of 1.2 bill...