Namibia partners review exploration options

Tower Resources says processing is of 3D seismic in License 0010 offshore Namibia is around two-thirds complete.

Offshore staff

LONDON --
Tower Resources says processing is of 3D seismic in License 0010 offshore Namibia is around two-thirds complete.

Detailed interpretation to examine apparent direct hydrocarbon indicators will start in February 2011.

Operator Arcadia Petroleum will work on funding and contracting a deepwater drilling rig once processing of the seismic processing is complete.

According to Tower, timing of a first well will depend on the outcome of these activities, but could start during the next favorable operating window of October 2011 to March 2012.

12/10/2010

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