Tower Resources Share News (TRP)

(Sharecast News) - Africa-focussed oil and gas company Tower Resources updated the market on operations on the Thali block in Cameroon on Wednesday, reiterating that it was in the final stages of planning the NJOM3 well, which would be drilled to a total depth of 1,100 metres.The AIM-traded firm said the NJOM3 well would intersect at least three reservoir zones already identified by the NJOM1B and NJOM2 discovery wells, which were drilled on the Njonji structure by the previous operator Total.It said the well was 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 was designed to supplement Total's well data with a suite of measurement and logging tools and drill stem test flows to surface.Tower said its intention was then to suspend the well, with a view to subsequent completion as one of four initial production wells on the structure, as envisaged in the reserve report prepared by Oilfield International on 30 September last year.That first phase of development envisaged by the reserve report, aiming to exploit the 2C contingent resources already identified in the structure, aimed to provide "significant" production to Tower in 2020."Since the company's last update, the company has received additional data from the original Total wells at NJOM1 and NJOM2, which indicate that further site preparation work will be required before the rig is moved to site," Tower Resources said in its statement on Wednesday."Therefore the company has agreed with Vantage to move the planned mobilisation of the Topaz Driller to July 2019 instead of late May 2019, in order to allow sufficient time for the additional site preparation work to be completed."This is still within the original date range contemplated by the rig contract, and well within the license extension period agreed last year."