In December 2019, it was learned that operator Tower Resources plc (Tower Resources) was looking for a partner in its 119 sq km Thali permit, located in the shallow water of the Rio del Rey area, eastern Niger Delta. The company contracted the Envoi global advisory consultancy to assist in this research. To date, Tower Resources holds a 100% interest in this tract.   As a reminder, Tower Resources hopes to spud an appraisal well in the Njonji field during 2020 and has recently intensified the fundraising efforts for that drilling. Also, the company has applied to the Cameroon Authorities for a further extension of the initial exploration period of the license.  Based on an independent reservesâ report from Oilfield International Ltd in late 2018, Tower Resources estimates the gross mean contingent resources of the Njonji structure at 18 MMbbl of oil, which could be transformed into recoverable reserves in case of a success at Njonji 3. Drilling costs are estimated by the company between USD 10 million (dry hole) to USD 14 million (including DST).  As of early 2020, the block contained five exploration wells including two discoveries: Rumpi 1 (oil and gas discovered by Pecten Cameroon in 1998), Njonji 1B (oil discovered by Total E&P Cameroon in 2008).
In December 2019, it was learned that operator Tower Resources plc (Tower Resources) was looking for a partner in its 119 sq km Thali permit, located in the shallow water of the Rio del Rey area, eastern Niger Delta.