Tower Resources Share Discussion Threads

[jimarilo] 10/1/2020 13:51

80m shares changing hands

[bmwman3] 10/1/2020 12:39

Friday afternoon profit taking going on here imho

[thatsmart1] 10/1/2020 12:27

Market cap only £3.4m at the moment!

[jfreshfield] 10/1/2020 12:25

Too much game changing news due. Cameroon already seeing farmout activity and interest. High COS as not explo. SA we know there is activity there as their partner has stated that early 2020 will see activity. Chairman intimated Namibian active back in October. Huge optionality and upside. Market cap still TINY and any one of these should bag the share.

[saw89] 10/1/2020 12:06

Can see this hitting 1.5+ before farm-out news as the word spreads. News imminent on multiple fronts. Hidden gem.

[smudge104] 10/1/2020 12:02

thatsmart1
Thanks for that, I was doing my research, but bought 903000 shares as a punt, just couldn’t find info on the discovery no wonder as it was in 2008 and on the 20 page of trp news releases on ADVFN, will hold and accumulate on weakness

[thatsmart1] 10/1/2020 11:56

In other words, Tower need to appraise the wells and flow test.

[thatsmart1] 10/1/2020 11:51

smudge104. All this info is at the website. Lots of information there and no one should really be investing without proper research.

'The Thali PSC covers an area of 119.2 km², with water depths ranging from 8 to 48 metres, and lies in the prolific Rio del Rey basin, in the eastern part of the Niger Delta. The Rio del Rey basin has, to date, produced over one billion barrels of oil and has estimated remaining reserves of 1.2 billion boe, primarily within depths of less than 2,000 metres. The Rio del Rey is a sub-basin of the Niger Delta, an area in which over 34.5 billion barrels of oil have been discovered, with 2.5 billion boe attributed to the Cameroonian section. The Thali Block has the potential to hold at least four distinct play systems, including two established plays in which three discovery wells (Rumpi-1, Njonji-1 and Njonji-2) have already been drilled on the Block.'

hxxps://www.towerresources.co.uk/operations/cameroon/

[emptyend] 10/1/2020 11:44

So....,given three possible farmouts, how do you know it is Cameroon that is sparking the price move rather than, say, Namibia? And if it is Namibia, how do you know it is Tower that will farmout rather than another small player in Namibia?Just interested....currently away so haven't followed details.

[saw89] 10/1/2020 11:27

2008.

35 API light crude

[smudge104] 10/1/2020 11:07

When was this discovered

[saw89] 10/1/2020 10:45

By the way Cameroon is an appraisal well for production. Already discovered..

[mr hangman] 10/1/2020 10:44

CHEAP CHEAP

[saw89] 10/1/2020 10:42

£15m-20m Mcap fair value as it currently stands given the near term prospects here IMO

£30m+ with a farm-out concluded.

There’s 3 farm-outs on the cards.

Current Mcap just over £5m.

[thatsmart1] 10/1/2020 10:39

My early target is still 5p-7p with a significant increase after that. What was the CoS - 80%! Ok, 20% bet for a duster but 80% is good enough for me even if it has taken a while to develop so far. We are now on the cusp.

[saw89] 10/1/2020 10:26

Cameroon - 8 thousand barrels a day and farm-out underway expected to be concluded imminently.

South Africa - Neighbouring block recently discovered 1bn BOE gas-condensate by super Major TOTAL

Namibia - Farm out process underway, super majors including Exxon are fighting to grab land in the region.

Could be the share of 2020.

[thatsmart1] 10/1/2020 10:24

#2 on the ADVFN leaderboard!

[saw89] 10/1/2020 10:20

I honestly don’t think people would bat an eyelid if the market cap was 3 times higher at this stage given the near term prospects here. Hidden gem.

[mr hangman] 10/1/2020 10:15

with 27% i wonder if he is going to take this private

[saw89] 10/1/2020 10:12

CEO must be confident of this going well having recently put an additional £700k of his own money in, now owning a total of 27%. Shareholders aligned to BOD which is refreshing to see.

No placing required as they have stated they will not fund this via equity as already too undervalued.

Free float must be tight

[thatsmart1] 10/1/2020 10:03

Africa is a safe haven now that the middle east is distinctly out of favour, so at last Tower's acreages are likely to get maximum attention.

[jimarilo] 10/1/2020 10:00

Up coming Namibian wells listed below, first well being Total's Venus1, with the rest to follow

(Exxon, M&P, Azinam 2 wells Pel44), (Total/Impact 1 well Pel56), (Shell/Kosmos 1 well Pel39), (Exxon/Galp 1 well Pel82), (Galp 1 well Pel83), (Eco/Azinam /Seapulse 1 well Pel30), (Eco/Azinam/Seapulse 1 well Pel33)

Currently we must be in the longest period without news offshore Namibia, but that is soon to change with eight wells on the horizon and possible news flow of deals imo

[mr hangman] 10/1/2020 09:59

4 Drills in Namibia this year, Total drilling the deepest well ever in Africa, lots of news flow to come