RE: Ja18 Dec 2023 11:20
I have done my own research and the licences have expired ,What is the cost and process to renew licences to drill the various leads ??
Thali Production Sharing Contract (PSC) in Cameroon, which covers an area of 119.2 km² in the Rio del Rey basin. Tower Resources holds a 100% interest in this licence and is the operator. The licence was extended for one year in September 2020 and is valid until September 2021. The company plans to drill the Njonji-3 well in 2021, subject to rig availability and financing.
Algoa-Gamtoos Exploration Right in South Africa, which covers an area of 11,800 km² offshore the southern coast of South Africa, adjacent to the Baviaanskloof World Heritage Site. Tower Resources holds a 50% interest in this licence and is the operator. The licence was granted in December 2014 and is valid for six years. The company has identified several prospects and leads in the licence area, including the Algoa Deep and Gamtoos prospects.
Namibia PEL 96 in Namibia, which covers an area of 23,297 km² in the Walvis Basin and Dolphin Graben offshore Namibia. Tower Resources holds a 30% interest in this licence and is not the operator. The licence was granted in June 2015 and is valid for four years, with an option to extend for two more years. The company has identified several prospects and leads in the licence area, including the Alpha and Gamma prospects.