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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Tower Resources Plc | TRP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.001 | 8.00% | 0.0135 | 14:10:01 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.0125 | 0.0115 | 0.0135 | 0.0135 | 0.0125 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 04/6/2024 20:18 by bionictroller Market cap £2.4 milionNo debt Cameroon (proven resource) drilled soon Exciting Namibia block SA block (farm out soon ?) RNS 3rd June 2024: In South Africa, our co-venturer and operator NewAge is continuing to explore the options for acquisition of new 3D seismic data over our deep-water Outeniqua basin lead, which continues to attract interest from third parties. The farm-out process which they have been conducting has now resulted in a serious discussion with one party getting underway, though we cannot yet say if it will result in a transaction, and we cannot provide more detail or comment further while discussions are in process. We will inform investors promptly if a firm agreement is reached. |
Posted at 04/6/2024 14:15 by bionictroller RNS yesterday:In South Africa, our co-venturer and operator NewAge is continuing to explore the options for acquisition of new 3D seismic data over our deep-water Outeniqua basin lead, which continues to attract interest from third parties. The farm-out process which they have been conducting has now resulted in a serious discussion with one party getting underway, though we cannot yet say if it will result in a transaction, and we cannot provide more detail or comment further while discussions are in process. We will inform investors promptly if a firm agreement is reached. |
Posted at 03/6/2024 13:40 by gaf55 The unwillingness of this BOD to secure an asset disposal for cash deal, it is incredible, they are playing chicken with investor funds in the hope of holding onto more of the cake, it is not ethical imho...Quoted : The Directors believe that there are a number of options available to them through either, or a combination of, capital markets, farm-outs or asset disposals with respect to raising these funds. There can, however, be no guarantee that the required funds may be raised or transactions completed within the necessary timeframes, which results in an inherent material uncertainty as to the application of going concern in these accounts. |
Posted at 03/6/2024 13:36 by gaf55 The unwillingness of this BOD to secure an asset disposal for cash deal, it is incredible, they are playing chicken with investor funds in the hope of holding onto more of the cake, it is not ethical imho... with revenue streams nearly in reach why has this BOD not closed the deal and shared the news that would surely see an upturn in share value?Quoted : The Directors believe that there are a number of options available to them through either, or a combination of, capital markets, farm-outs or asset disposals with respect to raising these funds. There can, however, be no guarantee that the required funds may be raised or transactions completed within the necessary timeframes, which results in an inherent material uncertainty as to the application of going concern in these accounts. |
Posted at 03/6/2024 12:53 by neilyb675 The farm-out process which they have been conducting has now resulted in a serious discussion with one party getting underway, though we cannot yet say if it will result in a transaction, and we cannot provide more detail or comment further while discussions are in process. We will inform investors promptly if a firm agreement is reached. |
Posted at 03/6/2024 10:15 by paulsavannah Had this on my watchlist but after reading today's results it's little more than a lifestyle company for the directors to raise money to line their own pockets. Up to each investor to make their own decisions but my recommendation is avoid. |
Posted at 20/5/2024 15:48 by simon8 Perhaps the share price is slipping on the basis of zip news on any front for quite some time... small aim oilers tend to suffer when news flow dries up as everyone thinks the worst and their investors are notoriously short on patience.I am hoping that this does kick back through this down turn but we need something positive (tangible not hot air) from BoD in terms of progress on one of the areas of interest - farm-down would be good in both Cameroon and Namibia... It's also amusing to see all the loons multi posting all day long.. I have them filtered but it does seem to be the norm now for many small oil companies bulletin boards. |
Posted at 07/5/2024 17:31 by ny boy Investors fleeing AIM companies with sky-high risk of failure |
Posted at 03/3/2024 20:09 by dicko80 Cameroon is attracting global investors with fresh exploration and innovative gas reserve exploitation.The country's focus on revitalizing the sector, showcased at the IAE 2024 forum, signals a promising future ahead. At a pivotal moment for its energy sector, Cameroon is steering towards revitalizing its oil and gas reserves through innovative strategies and international collaborations. The country's endeavor to attract fresh exploration and exploit marginal gas reserves has positioned it as an attractive hub for global investors, particularly spotlighted at the upcoming Invest in African Energy (IAE) forum in Paris. Cameroon's oil and gas sector is witnessing a significant transformation, marked by the initiation of new exploration activities and the development of marginal assets. The introduction of a floating LNG facility underscores Cameroon's commitment to leveraging its gas reserves innovatively. The recent 20-year Production Sharing Contract (PSC) between Anglo-French independent Perenco and Cameroon's National Hydrocarbons Company for the Rio del Rey Basin highlights the region's potential, boasting over a billion barrels of oil produced and an estimated 1.2 billion barrels of remaining reserves.… with Tower Resources spearheading exploration efforts under its Thali PSC in the Rio del Ray Basin, anticipated to hold significant reserves. The company's plans to drill an exploration well by 2024 further emphasize the growing interest in Cameroon's untapped potential. |
Posted at 06/12/2023 18:52 by thenorseman2 «Recommendation and target price:We initiate coverage on Tower Resources as a Speculative Buy with a 0.12p/sh target price that is based solely on the Core NAV assets and already embeds a c.£3m equity raise at the current share price (0.028p/sh), which we expect to roughly double the number of shares in issue. In our view, Tower offers investors attractive exposure to the success of the rig contracting and farm-out processes on the Njonji oil discovery, offshore Cameroon. The current share price implies only token option value is being attributed to this asset ahead of realising a rig slot and funding partner to drill the NJOM-3 appraisal well, which is expected to confirm the commerciality of the oil resources. We think that signing a rig contract for the NJOM-3 well will prompt a farm-in partner to come into the well and complete the required financing.Further upside as project milestones reached:Our target price provides over 300% of near-term potential upside for investors looking to speculate that with a rig contract place, the rest of the funding and licence requirements can be completed. Following a successful farm-out process leading to positive results from the NJOM-3 appraisal well, investors can then look to base the Risked NAV valuation at a higher level reflecting a development asset moving towards first production and cash flow within 18M. Our unrisked Njonji Phase 1 valuation is 0.57p/sh, which rises to 0.83p/sh based on a 25mb development at $90/bbl Brent oil price. Notwithstanding the potential for further share dilution or farm-downs to raise additional funds, investors can look beyond our TP towards a higher risked valuation of the wider portfolio, subject to the timing and scope of a drilling programme. |
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