Tower Provides Update for Badada-1 Well Drilling

Source: www.gulfoilandgas.com 2/4/2015, Location: Africa

Tower Resources plc (Tower), the AIM-listed Africa-focussed oil and gas exploration company, provides an update on drilling operations for the Badada-1 well, Block-2B, onshore Kenya.

Tower has received formal notification from Lion Petroleum Inc. (Lion), the wholly-owned Kenya-based subsidiary of Taipan Resources Inc. (Taipan), and Operator of Block-2B (Tower 15%, Premier Oil 55% and Taipan 30% working interests) regarding the status of the Badada-1 well as at 24:00 GMT on 3 February 2015.

The Badada-1 well was spud at 14:00 GMT on 7 January 2015 and has been drilled to a total depth of 1,647 metres MDBRT (Measured Depth Below the Rotary Table). 13 3/8-inch casing has been successfully run to 1,644 metres MDRT and cemented in the 17½-inch hole and the well is currently preparing to drill ahead with the 12¼-inch hole section to the next casing point which is expected to be at TD. The well is planned to be drilled to a total depth of between 3,000 and 4,000 metres in order to test primary targets in Tertiary age reservoirs. The Operator expects the well to take up to 70 days from spud to complete.

It is the Company’s intention to provide regular operational updates when Badada-1 has progressed further. A comprehensive update will also be provided once operations on the Badada-1 well have been fully completed and analysed.

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