Tower Resources has been given more time to explore at the Thali license in Cameroon.
Tower said Wednesday that the country's authorities had granted it a one-year extension to the initial period of the exploration phase of the Thali PSC as requested by Tower.
AIM-listed Tower further said that it has spent the last couple of weeks with finalizing preparations with Geoquip Marine for the MV Investigator geotechnical drillship vessel to conduct the site survey on the NJOM-3 drilling area prior to the start of drilling operations.
The MV Investigator vessel is already in Cameroon, where it has been performing some routine maintenance, and the vessel is expected to start work on the survey shortly, Tower said.
"When the survey report is complete the company will discuss the survey results with the drilling company COSL, with whom it executed an LOI announced on 28 August 2019, before finalizing arrangements for the well itself," Tower added.
Jeremy Asher, Chairman & CEO, added: "We would like to thank His Excellency the President of the Republic, His Excellency Prime Minister Dr. Joseph Dion Ngute, His Excellency the Minister Gabriel Dodo Ndoke, together with their respective staffs, and of course the Société Nationale des Hydrocarbures, for their continued commitment to us and to the Thali project."
The NJOM3 well is planned to be drilled to a total depth of 1,100 meters intersecting at least three reservoir zones already identified by the NJOM1B and NJOM2 discovery wells drilled on the Njonji structure by the previous operator Total.
The well is designed to confirm the greater reservoir thicknesses observed on the reprocessed 3D seismic in the up-dip area of the structure, and also evaluate additional reservoirs that were not present in the areas where Total’s wells are located.
The NJOM3 well is designed to supplement Total’s well data with a suite of measurement and logging tools and drill stem test (DST) flows to surface. The company’s intention is then to suspend the well with a view to subsequent completion as one of four initial production wells on the structure.