welwitschia-1 well / expected spudding, page-5

"Welwitschia-1 Drilling Operations Expected to Commence this Week

22 April 2014

Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN)), the AIM-listed Africa-focussed oil and gas exploration company, through its wholly-owned subsidiary, Neptune Petroleum (Namibia) Limited ("Neptune"), expects formal notification from Repsol Exploration (Namibia) (Pty) Limited ("Repsol"), the Operator of Namibia PEL0010 (Neptune 30% working interest), that the Rowan Renaissance Drillship will commence drilling operations in Walvis Bay, Namibia by 25 April, 2014. This is a little later than expected owing to prolonged acceptance-testing by Repsol in advance of it taking the Drillship on a three-year contract.

The Welwitschia-1 prospect which is targeting net risked recoverable resources of 496 mmboe to Tower's 30% interest (based on the updated CPR - July 2013) and will intersect up to five separate reservoir targets ranging from the Palaeocene-Maastrichtian to the Albian Carbonate sequence at a potential total depth (TD) of 3,000m TVDSS. The Operator expects this to take up to 46 days.

During drilling there will be no updates to the market as this well is classified as a "tight hole". Accordingly the Company will provide a comprehensive update only once operations on the Welwitschia-1 well have been fully completed and analysed."

http://www.investegate.co.uk/tower-resources-plc--trp-/rns/welwitschia-1-drilling-operations/201404220701401876F/