Namibia: Tower Resources returns

Tower Resources has signed a new petroleum agreement for an 80% operated interest in three offshore blocks in the northern Walvis Basin. The agreement covers blocks 1910A, 1911 and 1912B, and the balance will be held by National Petroleum Corporation of Namibia (Namcor) with 10% and local partner ZM Fourteen Investment CC with the remaining 10%. Blocks 1910A and 1911 formed part of Tower’s original licence PEL0010, which Tower and its partners Repsol and Arcadia relinquished in 2015.