Tower Resources plc has signed the shallow water Thali (formerly known as Dissoni) Production Sharing Contract, offshore Cameroon.

The PSC signing ceremony took place on 15 September 2015 at the offices of Société Nationale des Hydrocarbures in Yaoundé, Cameroon, in the presence of a delegation which included the Minister of Mines, Industry and Technological Development, His Excellency Mr Emmanuel Bonde, and the Executive General Manager of SNH, Mr Adolphe Moudiki.

Tower's signature of the Thali PSC represents a low cost entry into a mature region with low-risk exploration/appraisal targets and the potential for significant upside. Tower has a 100% interest in the Thali PSC, and the terms of the PSC include three exploration phases, including the minimum work commitment of the Initial Exploration Period, outlined below:

Tags: Tower Resources plc