Specifically for Edd1213 Nov 2025 10:49
Final Extension to February 2025: As of 2023, Tower was still securing financing and a suitable rig slot. In late 2023, with the well not yet drilled, the company requested additional time. Cameroon’s Mines Minister in February 2024 confirmed an extension of the First Exploration Period until 4 Feb 2025. This approval was expressly **“in accordance with the … Petroleum Code, and with the approval of the President of the Republic”. In other words, President Biya signed off on this extension via decree, as it went beyond the normal timeline. The main obligation for Tower during this extended term remained drilling the NJOM-3 well – a critical condition for the extension. Tower noted this extra time was a condition precedent to finalizing financing for the well (they contracted a rig for 2024/25).