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AIM-listed Tower Resources has identified a farm-out partner for the Thali Block in the Rio del Rey Basin, where a well is planned for June. Tower said on 2 March that it had executed binding heads of terms for Australia’s OilLR Pty Ltd to take a 24.5% working interest. The farm-out covers $7.5m towards the Njom-3 well, which is expected to cost $15m-$16m, of which some $3m has been spent.