Africa-focused oil and gas company Tower Resources has announced progress in its upstream operations in Cameroon – where it plans to drill the NJOM-3 well later this year – and Namibia.
In Cameroon, Tower Resources recently secured a one-year extension for the First Exploration Period of its Thali PSC until February 2025. The extension mandates the drilling of a single well, which the company plans to complete with the NJOM-3 well in 2024. Tower Resources is currently securing a drilling rig for the NJOM-3 site and negotiating a term loan with BGFIBank Group.
Updated resource estimates for the reservoirs linked to the NJOM-1 and NJOM-2 discovery wells have reduced risks and increased the total risked mean prospective resources to 35.4 million barrels, while advanced software analysis of reprocessed 3D seismic data has provided a clearer picture of the acreage.
In Namibia, Tower Resources has completed a comprehensive basin and thermal maturity study to advance its understanding of the hydrocarbon potential within offshore PEL 96. The study, integrated with seismic and well data, confirmed the presence of a working petroleum system within the Dolphin Graben. The study also assessed the critical elements of the hydrocarbon charging system and included an oil seep analysis and a review of existing volumetric data on identified prospects and leads.
