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Tower Resources confirms spudding of Welwitschia-1

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Tower Resources (LON:TRP) has received formal notification from Repsol that the Rowan Renaissance Drillship spudded the Welwitschia-1 well, offshore Namibia on 23 April.

Tower has a 30% stake in Welwitschia-1, which is targeting net risked recoverable resources of 496 mmboe.

It will intersect up to five separate reservoir targets ranging from the Palaeocene-Maastrichtian to the Albian Carbonate sequence at a potential total depth of 3,000m.

The well is expected to take up to 46 days to drill, but Tower advises there will be no updates during this period and a comprehensive update will be published once the results have been analysed.

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