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Envoi has been engaged by Tower Resources Cameroon S.A, a wholly-owned subsidiary of Tower Resources plc, to assist in finding a strategic partner to earn part of their 100% operated interest in the shallow water Thali PSC, offshore Cameroon. Tower was awarded the PSC in September 2015 for an Initial Exploration Period of 3 years. Ongoing discussions to extended this will allow the planned Njonji-3 appraisal well to be drilled in early 2020.
The Thali PSC, (formerly known as the Dissoni PSC) covers an area of 119.2 km2, with water depths ranging from 8 to 48 metres. It lies in the prolific Rio del Rey basin, a sub-basin of the Niger Delta, in which over 34.5 billion barrels of oil has been discovered to date, of which 2.5 billion barrels of oil equivalent ('boe') is attributed to Cameroon. This has already produced over one billion barrels of oil with estimated remaining reserves above 2,000 metres in the proven/producing 'Shallow Plays' estimated to be 1.2 billion boe. Substantial resource potential also exists in the Tertiary's Miocene 'Deep Plays' in the area, undrilled in the Thali Block, though proven in large fields in the immediate area, including the 5+Tcf Alba and 2 Bn bbl Zafiro fields south of the Block.
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