Tower Resources Say Key Drillship Arrival In Namibia Delayed

LONDON (Alliance News) - Tower Resources PLC Friday said the arrival of the Rowan Renaissance Drillship in Walvis Bay, Namibia, will be delayed by roughly one month.

Tower, an independent oil and gas exploration company focused on Africa, said its subsidiary Neptune Petroleum Limited received formal notification from Repsol Exploration Limited that the rig is now scheduled to arrive at the site on March 23, 2014, and drilling of the Welwitschia-1 well will commence at the end of March 2014.

The vessel, which is being built in South Korea, will receive further wet testing for its Blow-Out Preventers before its departure in January 2014.

Tower Resources shares were down 1.6% to 2.88 pence Friday.

By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1

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