Tower Resources Share Discussion Threads

[darkglasses] 05/2/2020 18:21

BPC £10m placing has been pulled

[mr hangman] 05/2/2020 15:04

OM, The spud will be 3rd week of April

[oilmanmike] 05/2/2020 15:01

Hangman they haven't even sorted the finance for the drill
so how can that be? All needs to be confirmed prior to that
Also still awaiting environmental go ahead.

[mr hangman] 05/2/2020 14:53

OM, the BPC rig is arriving in April, at present 100% of over 1 Billion Barrels
it will be worth the 12 year wait

[oilmanmike] 05/2/2020 14:49

BPC mkt cap is £78m currently.
Tower is closer to a drill than
BPC IMO.

[mr hangman] 05/2/2020 14:38

I'm a big fan of both BPC & ECO, BPC is certainly the place to be come April,
Even with the Heavy oil news a few months back, ECO is in a very exciting part
of the world, with oil heavyweights all around them, in a few years time, they
will be taken out for multiples of the current share price, buy both while stocks last..

[2solaris] 05/2/2020 13:31

ADVFN quote BPC as having a market cap of £58m. And they are almost drill-ready for April.

[oilmanmike] 05/2/2020 12:55

In South Africa we have already identified a 372m bbl recoverable target in the same basin as the Total 1bn bbl discovery. Total will be sinking a couple more well this year
moving eastwards towards our blocks.
If you look at something like BPC (£80m cap) or ECO Atlantic (£75m) then it is very clear that TRP should be multiples of current share price
All that is needed now is the spark to light that touch paper!!

Hangman best you are here early for multi Billion Namibian assets cos the entry price is about to increase steeply IMO,

[mr hangman] 05/2/2020 11:50

"Multi billion super giant structures with Exxon circling"
That's why i'm here..

[saw89] 05/2/2020 11:47

Agree. It is simply a matter of when and not if this will multibag, the Mcap is simply crazy low for the 3 projects here.
Cameroon - High COS% near term drilling for 7000 barrels per day.
Namibia - a few prospective Multi billion super giant structures with Exxon circling and a super major going through our data as we speak.
South Africa - immediately adjacent to Total’s huge recent condensate find.

[oilmanmike] 05/2/2020 11:25

oh yes forgot to say Asher is presenting at the Oil & Gas investors briefing at Brewers Hall on the 18th of Feb!! That is when I expect him to throw some light on things Tower.

[oilmanmike] 05/2/2020 11:21

Exactly right Saw. With a bit of luck Asher will be able to throw sufficient light on Thali and the Namibian blocks. I am getting the feeling that the wild card is now South Africa. With all three of our assets in farmout mode is is likely something will surface soon. In the mean time 0.5p represents very good value as once the touch paper is lit fair value will be reached v soon. Right now based on what we know I agree with Saw it's around 1.5p but once they flow NJOM-3 that adds another 2p easily.
My target here on drill successes therefore 3.5p. Additional news flow from Namibia or SA will see 5p for a very reasonable 50m mkt cap.

[saw89] 05/2/2020 10:53

4 months later it’s realistic to expect an update on this soon.... right in the news zone now Imho

[saw89] 05/2/2020 10:50

RNS October 2019:

Tower has disclosed technical and commercial information to a major international oil company, in order to explore the potential to co-operate in respect of Tower's Namibian Blocks. This follows preliminary discussions initiated by that company and held earlier this summer.

[saw89] 05/2/2020 09:19

I’ve said many times before 1.5p Is fair value as it currently stands for the prospects on offer and that provides huge upside. 3-5p on appraisal success.
This has been £200m Mcap at one point!

[saw89] 05/2/2020 09:14

The RNS yesterday shows progress on Thali well , I’m expecting drill schedule to be released in a matter of days..... £3m cap for 7000 bopd appraisal well is obviously going to go nuts when the herd arrives.

[schachmeister] 04/2/2020 23:12

Yes, the 2019 videos are indeed very good but if you look at the 2018 ones, there also good too as are the 2017 ones and they all have one thing in common.
Jeremy says the Thali well will be drilled in each of these years, so every year Thali is going to be drilled....its the same speel every year but nothing ever happens !

Hopefully this year will be different but if history is anything to go by, well....?? Patience is most certainly required!!

[krowelet] 04/2/2020 21:50

saw thanks, I knew had seen the video before, article of course as you say is todays news, all good and getting there slowly.

[saw89] 04/2/2020 21:29

The article posted today at 10am. The interview is well worth watching. Some highlights are that the TRP Namibia licenses have multiple super structures, prospective for multi-billion barrels each. Exxon have been snapping up acreage north and south of TRP blocks. TRP were Approached by super Major, not the other way round. Lots of positives and exciting days / weeks / months ahead now we also have progress on Cameroon.

[krowelet] 04/2/2020 16:54

This is from last year is it not? but still a very good listen.

[saw89] 04/2/2020 16:17

www.proactiveinvestors.co.uk/companies/news/219900/tower-resources-discussing-namibia-co-operation-as-cameroon-drilling-nears-219900.html

[saw89] 04/2/2020 16:17

“Tower Resources discussing Namibia co-operation as Cameroon drilling nears. In talks with an international oil major for Namibia assets”
This is from the New article today on proactive investors:

[apache_dropout] 04/2/2020 12:22

It's all over for oil.

[oilmanmike] 04/2/2020 11:40

Hangman are you saying you are not interested in a move from current levels to around the 2p mark. How strange. it would certainly be of interest to anybody considering buying in at these levels.
Your didn't blow all your powder already did you. Should have kept some and then you would be a buyer and would no doubt be singing a very different tune