Windhoek - Repsol SA, Spain's biggest oil producer started drilling the Welwitschia-1 exploration well on April 25, a development keenly watched by the Namibian government and the international investor community amid heightened expectations of a commercial discovery of crude.
Tower Resources / Repsol SA oil shows ?
By stocktalk
May 19, 2014 3:17:21
The Welwitschia-1 prospect, believed to hold multi-billion barrel of crude oil, will be drilled to a depth of 3 000 metres to evaluate primary and secondary target reservoirs in the Maastrichtian and Aptian-Albian reservoir sequences.
It is the first exploration well to be drilled in Namibia this year, stoking hopes for a discovery of the golden liquid in commercial quantities.
A number of international majors as well as early star-up exploration companies have also lined up drilling programmes over the coming two to three years, which government says could prove critical in the country's oil and gas exploration industry.
Rumours are that they already have had oil and gas shows which will delight
investors and major oil companies.
http://www.smallcapnetwork.com/Tower-Resources-Repsol-SA-oil-shows/s/via/34672/article/view/p/mid/1/id/79/
Add to My Watchlist
What is My Watchlist?