Tower Resources increases resource estimate after significant discovery
Africa focused oil and gas company, reported the discovery of significant gas condensate in their Brulpadda exploration well located in the Outeniqua Basin, offshore South Africa.
The company drilled the well to a total depth of 3,633 metres and intersected 57 metres of net pay in Lower Cretaceous reservoirs, arguing this “discovery opens a new world class gas and oil play.”
Total S.A, operator on this programme, believe the new discovery could hold “between 500 million to over one billion barrels of oil equivalent.” The partners now plan to drill several further exploration wells to test additional prospects.
This new discovery has ushered in even more good news for Tower Resources.
The Block, 11B/12B, where the gas condensate was found is directly adjacent to the Algoa-Gamtoos licence, in which Tower holds 50%. The Brulpadda well successfully tested the Outeniqua basin slope, which is “interpreted to extend along strike into the southern part of the Algoa-Gamtoos block.”
The operator of Algoa-Gamtoos, New Age, has used 2D seismic and found a substantial prospect, assessing a prospect potential at “364 million boe on an unrisked basis from 2D reprocessed data.”
This is an increase from the partners previous 2018 estimate.
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