By Benjamin Chiou
Date: Tuesday 22 Apr 2014
LONDON (ShareCast) - Africa-focused oil and gas group Tower Resources said that drilling at its part-owned Welwitschia-1 well offshore Namibia is to start later than anticipated.
The company said that its wholly-owned subsidiary Neptune Petroleum, which owns a 30% working interest in Welstischia, expects operator Repsol Exploration to start drilling operations in Walvis Bay on April 25th.
"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 company said.
Drilling is expected to take up to 46 days.
Tower's Chief Executive Graeme Thomson said he is "very excited" that the high-potential Welwitschia well will soon be drilled.
The share price was 6.9% lower at 4.17p by 14:29 on Tuesday.
BC
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Currency | UK Pounds |
Share Price | 0.020p |
Change Today | 0.001p |
% Change | 3.51 % |
52 Week High | 0.12 |
52 Week Low | 0.018 |
Volume | 83,274,044 |
Shares Issued | 16,638m |
Market Cap | £3.27m |
RiskGrade | 530 |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
10:09 | 7,150 @ 0.020p |
09:26 | 1,000,000 @ 0.019p |
09:11 | 4,478,595 @ 0.019p |
08:56 | 454,774 @ 0.019p |
08:28 | 27,500 @ 0.020p |
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