Tower 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 Oilfield International Ltd (“OIL”) of a contract to act as Competent Person (“CP”) and prepare a Reserves Report in respect of Tower's Thali license in Cameroon.
The contract, awarded following a competitive tender, will cover a review of Tower's work on the Thali license to date, including historical well data and regional datasets. The preliminary reprocessed 3D seismic data, which Tower has now received from DMT Petrologic, together with the final dataset to be received over the next couple of weeks, will also be incorporated into the Reserves Report. OIL expects to complete its work during May 2018, with the report expected to be completed and available reasonably soon after.
Oilfield International Ltd, established in 1990, provides technical, valuation, acquisition and contracts services to oil companies and governments. Their website can be found at www.oilfieldinternational.com.
Jeremy Asher, Chairman & CEO, commented:
"We are looking forward to completing a more detailed evaluation of the many prospects on the Thali block, especially the existing discoveries at Njonji. Our work and OIL's work, over the coming weeks, should identify new potential leads and prospects, and will crystallise greater confidence in the volumetric estimates. This will form the basis for the Reserves Report and our drilling plans.”
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