Business
Commencement of ESIA process
Commencement of ESIA process.
About this update from Tower Resources Plc
[{"type":"text","content":"\n \nRNS Number : 8909Y Tower Resources PLC 11 December 2017 \n\n11 December 2017\nTower Resources plc\nCommencement of Environmental and Social Impact Assessment process\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 announce the award to CIME Services Sarl of Cameroon (\"CIME\") of a contract for support in preparing an Environmental and Social Impact Assessment (\"ESIA\") for the drilling of multiple wells on Tower's Thali licence in Cameroon.\nThe ESIA is a process governed by the Ministry of Environment, Nature Protection and Sustainable Development of Cameroon (\"MINEPDED\"). The contract has been awarded following a competitive tender among three companies, and covers the preparation and approval by MINEPDED of the terms of reference of the ESIA, the preparation of a stakeholder consultation report, and support through public hearings and the submission of the ESIA report to the MINEPDED for approval.\nThe completion and approval of the ESIA constitutes an important step before launching the drilling campaign on the Thali license.\nCIME is a highly experienced firm in conducting oil and gas ESIAs in Cameroon. It is expected that the ESIA process will be completed by June 2018. \nJeremy Asher, Chairman & CEO, commented: \n \n\"Commencing the ESIA process now is important to enable Tower to be in a position to commence drilling in the second half of 2018. We look forward to working with CIME and MINEPDED on the assessment, and will update shareholders as the work proceeds. This represents a further step towards our goal of reaching oil production at Thali as soon as possible.\"\n \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\n\nTower Resources plc\n\n\n+44 20 7157 9625 [email protected]\n\n\n\n\nJeremy Asher, Chairman and CEO \n\n\n\n\n\n\n\nAndrew Matharu, VP Corporate Affairs\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSP Angel Corporate Finance LLP\nNominated Adviser and Broker\n\n\n+44 20 3470 0470\n\n\n\n\nStuart Gledhill\n\n\n\n\n\n\n\nCaroline Rowe\n\n\n\n\n\n\...