Tower Resources says gas discovery made near its South Africa prospect

Writer, Stock Market Wire
Friday, February 8, 2019 - 08:01

Tower Resources noted that a joint venture led by Total had made a significant gas and condensate discovery proximate to one of its assets offshore South Africa.

The Brulpadda well encountered 57 metres of net pay in Block 11B/12B.

The block was located adjacent to the Algoa-Gamtoos licence, 50%owned by operator New Age Energy Algoa and 50%-owned by Tower.

At 8:01am: (LON:TRP) Tower Resources PLC share price was +0.08p at 0.98p


Related content

Tower Resources to raise £1.5m from share placing

Africa-focused miner Tower Resources launched a share placing to raise about £1.5m for working capital purposes.

New shares in the company would be issued at...

Tue, 15/10/2019 - 08:29


Tower Resources awaits complete confirmation for bridging loan extension

Tower Resources said it had agreed to a payment extension with the majority of lenders regarding a $0.75m bridging facility.

However, the company said it...

Tue, 01/10/2019 - 07:46


Tower Resources books first-half loss as it proves up Africa prospects

Tower Resources posted a first-half loss as it continued to prove up its oil and gas prospects in Africa.

Pre-tax losses for the six months...

Wed, 11/09/2019 - 07:27


Tower Resources switches rig for Cameroon well; in talks with potential investors

Tower Resources said it had switched drilling rigs and was continuing discussions with potential investors for an upcoming well in Cameroon.

In May, the company...

Wed, 28/08/2019 - 07:44


Tower Resources wins right to appeal adverse UK tax ruling

Tower Resources said it had been allowed to appeal against a tax decision made in 2016 against the company by British authorities.

The right to...

Tue, 09/07/2019 - 09:22