Namibian Oil News!

[Michael Alexander]

From todays Republikein ,


15.02.2011
Tower Resources to drill Namibia's first oil well
TOWER Resources plans to drill the first oil well in Namibia in late 2011. Tower reported that processing of the 3-D seismic from its license 0010 offshore Namibia has been completed and data quality was "excellent".

On first inspection, the results of the 2-D seismic interpretation are enhanced and the very large, simple four way dip closed Delta structure has been confirmed, said Tower.

Detailed interpretation, which will include evaluation of direct hydrocarbon indicators and also reservoir characteristics, has begun and results are expected by the end of March 2011. Arcadia Petroleum, which operates the license, has accelerated its programme to put in place funding and to contract a deep water drilling rig with a view to drilling in the final quarter of 2011.

"I am delighted that a first well in Namibia, to test the huge potential of the Delta prospect, is now a target for this year," said chairman of Tower Resources, Peter Kingston.

"I am also pleased that the final commitment well in Uganda will test a good prospect, which could yield material value to shareholders if successful."

[georg ruf jr.]

I hope it brings you luck.

[Michael Alexander]

Ya! But I reckon it will bring corruption, but with only 2.2million people in such a land, we should be able to make it work for the benefit for all.....

[Gordon Brown]

They said that about diamonds too.

[Michael Alexander]

A lot of houses in the North and in WHK were funded by them there diamonds, mind so were a few mansions in Joburg also....