SOUTH AFRICA: Tower Resources Enters the Second Exploration Period of the Algoa-Gamtoos license
Tower Resources has announced that its subsidiary Rift Petroleum Ltd, together with Operator and 50% partner New Age Energy Algoa (Pty) Ltd, has now formally agreed to enter the Second Exploration Period of the Algoa-Gamtoos license offshore South Africa. The Company also notes the recent announcements from Total S.A. and Africa Energy Ltd regarding the results of the Luiperd-1X well, which has reported a further significant gas condensate discovery in Block 11B/12B (Total 45% and Operator, Qatar Petroleum 25%, CNR International 20% and Main Street 1549 Proprietary Ltd 10%) located in the Outeniqua basin, offshore South Africa.
The Second Exploration Period of the Algoa-Gamtoos License will run for two years from 17 November 2020, and the work programme during this period will include a further 300 km2 of 3D seismic data acquisition in the license area.
Block 11B/12B is located adjacent to the Algoa-Gamtoos license. The Algoa-Gamtoos license also contains the southern deep-water basin margin of the Outeniqua Basin that was targeted by Total’s Brulpadda and Luiperd-1X wells and is approximately 150 kms along strike to the East.
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