Tower Resources Share Discussion Threads

[encarter] 26/11/2018 09:28

My guess is a £5m placing at 1p.

[jimarilo] 21/11/2018 15:36

JA is certainly getting about in the last few days, pumping Cameroon

Certainly looking at a fund raise

[jimarilo] 12/11/2018 23:13

Kosmos and Shell launch alliance in Africa

New partners seek out exploration targets off southern West Africa

[jimarilo] 09/11/2018 10:51

Africa is finally seeing the benefits from the recovery in crude prices as companies ramp up drilling from Algeria to Namibia. The rigs are returning and wildcatters are getting excited again after a years-long hiatus during the oil-price slump. From majors like Total SA to independents like Tullow Oil Plc, companies are snapping up exploration rights and doing deals.

[jimarilo] 09/11/2018 10:50

I posted this on the GBP website and shows the potential both companies have with there Namibian assets.

The industry are searching for the migrated oil from the likes of Cormorant and north west Walvis basin is looking to be a prime spot

Something very interesting from TRP's presentation of 2014 that now possibly makes a lot of sense.

Looking at page 13 titled source kitchens..

PEL0010 sits on a regional high, that will be a regional focus for migration and charge from a large fetch area over the Walvis Basin, Dolphin Graben & Namibe Basin.

Look at the picture to the right showing the minimum Welwitschia fetch area, it is the minimum area suggested but just touches PEL 37, Tullow's cormorant well.

GBP's new block 2011A is bang in the middle and PEL29 catches the area as well.

Now look at the red stars showing a trail of thermogenic gas running in a line into the east of 2011A (old pel 10) within the fetch area.

Also shows the oil slick in our 2011A/PEL 94

[trulyscrumptious] 07/11/2018 11:08

From Malcy:

Tower Resources
Tower chose the day after the ‘spotlight on Namibia’ session to announce this morning that it has signed a new Petroleum Agreement with the Government of Namibia covering an 80% operated interest in blocks 1910A, 1911, 1912B offshore Namibia. Covering 23,297 km² in the Walvis Basin and the Dolphin Graben the agreement is for an initial four year exploration period and a $5m work commitment.

After two recent dusters Namibia has had some of the shine taken off it but continued activity by a number of companies in the area indicate that there is still a belief in the area where working petroleum systems have been shown to exist. Whilst the market is obviously concentrating on the company’s Cameroon prospect it is proving that it has other fish to fry.

[farnham] 07/11/2018 10:31

'Christmas comes early' for Tower Resources as reserves report beats expectationsShare 12:36 05 Nov 2018Jeremy Asher, chairman of Tower Resources PLC (LON:TRP), caught up with Proactive Investors to discuss a reserves report for their Thali licence, offshore Cameroon.The report's identified gross mean contingent resources of 18mln barrels (MMbbl) of oil across the proven Njonji-1 and Njonji-2 fault blocks with low/best/high estimates of 5/15/34 MMbbls respectively and a development contingency probability of 80% on the first phase and 70% on the second phase.Asher says they've received a financing offer from an industry partner for the Thali licence and it's being considered alongside other funding options.

[soulsauce] 07/11/2018 08:52

Well raising £5m for a start.

[jimarilo] 07/11/2018 08:39

Well I thought they might get one block, but this is significant, this must be around 6m acres

GBP has around 3m acres adjoining TRP and both companies share directors, makes you wonder what is on the cards here

[jimarilo] 07/11/2018 00:35

If you download the AOW programme you will see JA is presenting this week

Also here is an interview on PI

[encarter] 05/11/2018 20:19

A placing would be better.

[jimarilo] 05/11/2018 08:48

They have a 100% interest and are currently in talks with a company to farm in

[judijudi] 01/11/2018 18:23

Rayrac,
Another of your superb Penny share picks
Bahamas
UGOT nowt
TRP on your watch list. That should put quite a few potential punters off!!
How are they going to fund this Mr Einstein?

[jimarilo] 01/11/2018 15:12

TRP presenting @ the Africa Oil Week conference next week

[rayrac] 01/11/2018 09:48

Judijudi10 Oct '18 - 11:34 - 24927 of 24937
0 1 0
Asher and co are going to send this into oblivion
imho


Some oblivion!! I don’t hold btw, but very much on watch.

[encarter] 01/11/2018 08:45

My money is still on a placing.

[jimarilo] 01/11/2018 07:22

Great rns this morning

Looks like financing could be sorted without a placing

Namibian application awards due next

[jimarilo] 23/10/2018 21:07

I am amazed that PH are managing to built such a position so cheaply

No one seems to be following their lead

Interesting there are four blocks that are being sought around the GBP blocks and TRP's old blocks which they are back in the mix for

Once it's confirmed who is having what, there will be deals made imo

[trulyscrumptious] 22/10/2018 17:21

Yes, they know more than we and are setting up shop nice and early.

[jimarilo] 22/10/2018 10:12

Peel Hunt 21% now

[jimarilo] 20/10/2018 11:17

Exxon Is Betting On Africa For Its Next Big Find

Exxon is also buying seismic data. “We’re acquiring large amounts of seismic data with the idea that in the future one or two of those are going to turn out to be the next Guyana,” Greenlee said. “These are large acreage positions and they’re in areas that we think have promising opportunities for hydrocarbon systems.”



This was out yesterday and as we know already (from Char's Larry Bottomly) Namibia is where they are collecting large amounts of 3D, "In area's that they we think have promising opportunities of hydrocarbon systems" and they are in the same fairway as GBP (and TRP's new blocks yet to be announced) equally with structural highs and oil seeps

[jimarilo] 19/10/2018 13:30

Great info here, scroll down to "Southern Africa: a new exploration hotspot?"

This web page is dated 6th September 2018

Check out the ledgend and Figure 1, you will see there are 4 blocks under negotiation, one of which is GBP's. I am sure it is just a minor error as GBP acquired block 2011a on the 19th September. However, someone is acquiring blocks 1910A, 1911 and 1912B. TRP will be one of the companies involved

[jimarilo] 15/10/2018 13:05

Doesn't seem to bother Peel Hunt