Tower Resources plc, through its wholly-owned subsidiary, Neptune Petroleum (Namibia) Limited (Neptune), provides the following update with respect to the Welwitschia-1A well on PEL0010, offshore Namibia.

The Rowan Renaissance drillship commenced drilling operations on PEL0010 on 23 April 2014 and the Welwitschia-1A well spud on 1 May 2014. Repsol Exploration (Namibia) (Pty) Limited (Repsol), the Operator of Namibia PEL0010 (Repsol 44% working interest, Tower 30% working interest), has confirmed that the firm commitment well reached total depth of 2,454 metres TVDRT (Total Vertical Depth Below Rotary Table). Logging evaluations indicate that the Palaeocene, Maastrichtian and upper Campanian section reservoirs were less well-developed than prognosed and no hydrocarbons were encountered.

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