15th Jan 2020 10:30
(Alliance News) - Africa-focused oil and gas company Tower Resources PLC on Wednesday said it has been granted an extension to its exploration licence at its offshore Thali oil asset in Cameroon.
The approval, from Cameroon's Ministry of Mines, Industry & Technological Development, extends the licence by one year from the initial expiration date of September 15, 2019.
The extension was granted so Tower Resources can complete work at the NJOM-3 well.
The MV investigator vessel, owned by Geoquip Marine AG, will begin a site survey at NJOM shortly, Tower Resources said.
The survey is the final operational step before drilling.
Tower Resources shares were 11% lower at 0.60 pence each in London on Wednesday afternoon.
By Eric Cunha; [email protected]
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