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Tower Resources hires Oilfield International to assess Thali reserves

Following recent technical work the firm has commissioned a new assessment of the Thali asset's potential

oil and gas operations
The review will take place in May

Tower Resources PLC (LON:TRP) has hired consultant Oilfield International Ltd for an assessment of the reserves potential at the Thali licence in Cameroon.

It follows a competitive tender process and the assessment will look at Tower's work on the Thali licence to date, in addition to historical well data and regional datasets. Pending reprocessed 3D seismic data will also be used in the process.

WATCH: Jeremy Asher on the tantalising opportunities in Cameroon

According to the schedule, the consultant will carry out the competent persons’ assessment in May and the subsequent report is anticipated “reasonably soon after”.

"We are looking forward to completing a more detailed evaluation of the many prospects on the Thali block, especially the existing discoveries at Njonji,” said Jeremy Asher, Tower chief executive.

“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."

Quick facts: Tower Resources PLC

Price: 0.325 GBX

Market: AIM
Market Cap: £4.04 m

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