Petroleum Africa
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Tuesday, September 18, 2018
The government of Cameroon has granted Tower Resources a one-year extension to its Thali License. The extension is contingent on the company’s rig contract for the upcoming well being finalized and executed within three months.
The company has not yet received formal notification by letter from MINMIDT but has been told to expect such a letter this week. There is also some further documentation to be completed and the company will make a further announcement when this is done.
In the meantime, work on the Reserve Report and selection of rig and service contractors for the upcoming well is continuing. Tower’s internal G&G work is now substantially complete and is being reviewed by Oilfield International (OIL), the independent consultants preparing the Reserve Report. The company has retained Bedrock Drilling Limited to provide well management and supervision services for the Njonji welland is presently negotiating terms for both rig and services.
Jeremy Asher, Chairman & CEO, added, “We would like to thank His Excellency Minister Ernest Gbwaboubou, and M Adolphe Moudiki, the Excecutive General Manager of our partner the Société Nationale des Hydrocarbures, together with their respective staffs, for their commitment to us and to the Njonji project at Thali.”
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