Tower Resources moves to second exploration phase offshore South Africa

  • Dec 16, 2020
  • Stock Market Wire - Oil company Tower Resources said it and partner New Age Energy Algoa had agreed to progress to the second exploration phase for the Algoa-Gamtoos license offshore South Africa.

The second exploration period would run for two years from 17 November 2020, with a work programme that included a further 300 square kilometres of 3D seismic data acquisition in the license area.

Tower Resources also noted that French oil giant Total and Africa Energy had made a further significant gas and condensate discovery at a block adjacent to the Algoa-Gamtoos license.

At 9:23am: [LON:TRP] Tower Resources PLC share price was 0p at 0.38p

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