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Yaoundé - 14 December 2017 -
Commodities

Cameroon: Tower Resources awards contract to reprocess the 3D seismic data of Thali block

Cameroon: Tower Resources awards contract to reprocess the 3D seismic data of Thali block
  • Comments   -   Friday, 01 December 2017 13:36

(Business in Cameroon) - The British oil and gas company Tower Resources which focuses on African markets said that it awarded DMT Petrologic GmbH & Co a contract to reprocess the 3D seismic data of Thali block in Rio del Rey.

The contract covers an area of 500 square meters which encompasses the three discovery wells on Thali block and additional key wells. It was attributed to DMT Petrologist GmbH & Co following a tender to which took part six international firms.

Tower resources explained in a statement that the reprocessing work will provide higher resolution imaging and help obtain additional information to upgrade the existing prospect inventory on the Thali block. The work is expected to be completed in the first quarter of 2018 at a cost in line with the original expectations.

It should be noted the data reprocessing is one of the Cameroonian government’s requirements for an extension of Tower Resources license on Thali. Drilling at the site are expected to commence in 2018.

"This work will allow us to make a more detailed evaluation of the many prospects on the Thali block, including the existing discoveries at Njonji and Rumpi. We expect to crystallize greater confidence in the volumetric estimates of existing leads and prospects as well as identifying new ones. This will form the basis for our drilling plans (…)We look forward to working with DMT Petrologic and will update shareholders as the work proceeds", Jeremy Asher, Chairman & CEO of Tower resources said.

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