Tower Resources Share Discussion Threads

[encarter] 18/4/2019 14:33

Maybe he's you?

[0ili0] 18/4/2019 14:11

Is Asher looking in here?

[2solaris] 18/4/2019 11:38

Let's see if Jeremy Asher comes up with the goods this time, I shall give him another chance anyway. If he succeeds this will rocket, we all know what will happen if he doesn't so no rose-tinted glasses here. Malcy's interview with him should prove interesting.

[encarter] 18/4/2019 08:46

Past Performance Is Not Indicative Of Future Results

[jotoha2] 17/4/2019 16:55

apache , do you know the history here , the company and it's current Bod have destroyed shareholder value by 99.995 % since the debacle of the glow event , they are a dodgy bunch and Asher has a lot to proof in regards to his standing as a Director of a listed company , time will tell if he is a changed man.

[apache_dropout] 16/4/2019 16:41

Funny how positive news is twisted into a huge negative on Aim.

[jotoha2] 16/4/2019 15:52

Lardner , milking the company is pretty normal on AIM it is after all a dodgy casino !

[mr hangman] 16/4/2019 12:03

A few "investors" paid 0.88p this morning selling for 0.68p now

[lardner 23] 16/4/2019 10:20

I see Tower paid Pegasus $295k for mgmt fees not so long ago. It's nice work if you can get it.

[2solaris] 16/4/2019 10:09

Are you looking in a mirror?

[2solaris] 16/4/2019 09:58

From the big man Malcy: Tower Resources Tower has announced that it is in the final stages of planning for the NJOM3 well in Cameroon and is expected to spud at the end of May. It is still in discussions with regard to a bank loan and indeed with potential partners but in the meantime has announced a bridging loan of $750/- from Pegasus Petroleum, a company owned by Chairman Jeremy Asher to cover immediate working capital. Exciting times for Tower and I am looking forward to catching up with Mr Asher shortly.

[mr hangman] 16/4/2019 09:47

Don't make me laugh

[encarter] 16/4/2019 09:33

I heard a while back that they rejected a farm in deal because the terms weren't very good, which they could now be forced to take if no other offers materialize. If true the worst case scenario would still see the share price above 2p imho and who knows how much higher it could go the way the AIM works?

[mr hangman] 16/4/2019 09:26

Doubt it..

[jotoha2] 16/4/2019 09:23

Clearly Asher is not so certain that he can do the deal , thats the problem when you have a rubbish record of achievement , still one more roll of the dice , you never know , the guy may yet sparkle !

[mr hangman] 16/4/2019 08:41

It's a win win situation for our Jeremy, no rewards for mug shareholders

[purple11] 16/4/2019 08:38

yes,but its a valuable license with adds value when working out the present mkt of tower.

[cashandcard] 16/4/2019 08:33

Purple, Whilst exciting, TRP have 50% interest in a tiny slither of Oteniqua basin. They will not be able to finance drilling in that themselves such is the cost of deepwater drilling. So will have to farmdown anyway, I would suspect to 10-15%wi. I would be more interested in the known oil in Njonji, appraising and developing that. If they can secure financing for it, that makes this an investable prospect. But until then, management have woefully underperformed here and it'll take a lot to undo that damage. Cash

[purple11] 16/4/2019 08:30

lovely jubbly.

[newtothisgame3] 16/4/2019 08:26

#TRP Tower Resources sees May spud date for key Cameroon well https://twitter.com/smallcappick/status/1118068091483774977

[mr hangman] 16/4/2019 08:26

I would not call a 90-100% loss a "Limited downside"

[purple11] 16/4/2019 08:25

Tower is not a one tricked pony don't forget. it is currently waiting to farm out this too..... thats worth a 5m cap on its own clearly. Statement regarding the results of the Brulpadda exploration well, Outeniqua Basin, Offshore South Africa, and upgrade of Operator's resource estimates on Tower's South African license. Tower Resources plc (TRP.L, TRP LN), the AIM listed oil and gas company with its focus on Africa, notes the announcement dated 7 February 2019 from Total S.A. ("Total") regarding the results of the Brulpadda well, which has reported a significant gas condensate discovery in Block 11B/12B (Total 45% (Operator), Qatar Petroleum 25%, CNR International 20% and Main Street, South African consortium 10%) located in the Outeniqua basin, offshore South Africa. The well was drilled to a total depth of 3,633 metres and encountered 57 metres of net pay in Lower Cretaceous reservoirs, and with this discovery opens a new world class gas and oil play. Total have stated that they believe the new discovery could hold between 500 million to over one billion barrels of oil equivalent and they now intend to drill several further exploration wells on Block 11B/12B to test additional prospects. Block 11B/12B is located adjacent to the Algoa-Gamtoos licence, operated by 50% partner New Age Energy Algoa (Pty) Ltd ("New Age") and held 50% by Tower. The Algoa-Gamtoos license also contains the southern deepwater basin margin of the Outeniqua Basin that was targeted by Total's Brulpadda well and is approximately 150 kms along strike to the east from the Brulpadda discovery. Importantly, the Brulpadda well has successfully tested the Lower Cretaceous turbidite fan play of the Outeniqua basin slope, which is interpreted to extend along strike into the southern part of the Algoa-Gamtoos block, in which the Operator, New Age, has identified on 2D seismic a substantial prospect. The Operator has assessed the analogue prospect potential on the Algoa-Gamtoos block at 364 million boe on an unrisked basis from 2D reprocessed data, which is an increase on its previous 2018 estimate. Envoi, on behalf of the Operator, New Age and Tower have been contracted to facilitate a farm-out of equity in the licence, and a data room is currently open.