Tower Resources Share Price (TRP)

They handed back the first licence areas in 2015 and took 3 years to get approval of the new blocks

The new blocks does contain some of the original licence areas, as you rightly say “cherrypicked” these blocks for many reasons, we’ll they were very well understood by the company but also due to the confirmation of a working oil-prone petroleum system (back then there was a theory that past the Walvis ridge it didn’t contain the source rock for oil to be present) in good quality turbidite and carbonate reservoirs.

The new blocks cover a very large area and are highly prospective

the presence of Albian carbonate and Upper Cretaceous and Palaeocene turbidite reservoir intervals, which has been proven by Norsk Hydro’s 1911/15-1 well, encountered oil shows in the 1911 block in the 1990s. These intervals may be found in multiple structural traps across the new licence area. These include giant (1,000 km2+) 4-way dip closured structures in the west of the licence and 4-way and 3-way fault dependent structural closures within the Dolphin Graben, which well results such as Wingat-1 indicate is likely to contain mature source rocks. Potential stratigraphic traps (associated with Cretaceous and Palaeogene basin floor turbidite systems) have also been identified within the new licences.

The giant structures in the west of the licence include two (Alpha and Gamma) which were similar in size and potential to the Delta structure to the south of block 1911, where Repsol, Tower and Arcadia drilled the unsuccessful Welwitschia well in 2014.

Significant potential has also been identified within structural closures (50 km² to 125 km²) identified and mapped across the Dolphin Graben, all of which are located directly adjacent to source kitchens. More than eight 3-way fault dependent and 4-way dip closed structural traps have been identified so far, all of which compromise of multiple stacked targets which include Palaeogene and Cretaceous turbidites (being explored for in the southern part of the basin) as well as Albian carbonates and deeper syn-rift clastics.

In addition to the structural plays outlined above, Tower anticipates that stratigraphic plays exist within Cretaceous and Palaeogene intervals in the new licence, with potential for deep-water turbidite reservoir interbedded with mature source rocks (analogous to plays being explored for by Tullow and other in the southern part of the basin). These stratigraphic plays are currently being worked on and we await update volumetrics and lead priority

Once announced expect fireworks 💥 💥📈📈🚀🚀

Didn’t J Asher have pick of licenses way back when Tower entered Namibia before any of the huge finds down south . Way back in 2010 or something . Went for the biggest leads along with GBP . What’s interesting is that Tower have unwaveringly held Namibia for 15 yrs. long game maybe

Kop, grow a pair ffs!

Nice to see a new investor take so much. Lends a lot of confidence. And y3st Galp suggesting up to 10 Billion barrels in place . Huge stuff. Looked at the map of the prospect 2 yrs ago and knew they’d hit something big . It was a no brainer at 9 eu but I couldn’t invest personally. Money tied up elsewhere

Wonder*