Tower Resources Share Discussion Threads

[iammrweald] 25/10/2022 13:44

.22p is holding up the weight of those er...loans atm.
MM will have sold his £80k Surreh shed to top up today! he he
Stratisphoric rise! he he

[moneymunch] 25/10/2022 13:24

Lol....I've bought more on the drop. Gla holders....BIG news could drop at anytime. ;-)

[tanboy1950] 25/10/2022 13:04

Asher Is A Fat Lying Barstool, Back To Record Low Levels Again.. Monymunch Dipper And Pals, Dont Tell Me The Share Is A Winner..

[iammrweald] 25/10/2022 12:27

Have those bank loans gone through their Nigerian offices?

[iammrweald] 24/10/2022 10:01

It's called book talking.

[tanboy1950] 24/10/2022 09:57

Mm Says Another Bid Week Coming Up, I Wish I Had A £1 For Every Time He said That..

[moneymunch] 23/10/2022 21:48

A BIG week coming UP, with any luck. Gla holders:-)

[moneymunch] 21/10/2022 22:27

Shell within weeks of starting critical Namibia drilling campaign

Supermajor could drill up to three exploration and appraisal wells on and around its major Graff discovery

21 October 2022
in    Cape Town 

Shell is within a few weeks of firing up what will be a closely watched drilling campaign offshore Namibia in the same block that hosts its large Graff oil discovery.

The supermajor hit oil with its deep-water Graff-1 probe in the Orange basin earlier this year and immediately drilled a follow-up well called La Rona.

While Shell unveiled the results of Graff-1, it has said nothing public on the outcome of its La Rona-1 well, with officials even declining to clarify whether it was an appraisal or an exploration well.

[moneymunch] 21/10/2022 21:59

Let's hope it's VERY interesting!!! C'mon JA, news this coming week would be timely. :-)))

"It is interesting to see African banks giving more interest in the area,” stated Asher.

[moneymunch] 21/10/2022 17:29

"When it comes to exploration financing, you have to look at the constraints that the market is placing on us. When you look at the scale of exploration and supply gap that is coming up, the amount of exploration that needs to be done, there is cause for concern whether there will be enough equity capital. Appraisal and development funding is different with different risks. The further you move down, the more role there is for traders and the banks themselves. It is interesting to see African banks giving more interest in the area,” stated Asher.

[moneymunch] 21/10/2022 17:22

Growth Strategies and Risk Mitigation in Africa’s Unexplored Basins

 2h ago   ; |    Source: APO Group

Justin Cochrane, Director: African Regional Research, S&P Global Commodity Insights, speakers included John Hamilton, CEO, Panoro; Jeremy Asher, CEO, Tower Resources; Keith Hill, President & CEO, Africa Oil Corp; Siraj Ahmed, CEO, Impact Oil & Gas; Kola K

While a number of large-scale developments have kicked off across Africa in recent years, much of the continent’s hydrocarbon basins remain largely unexplored, with several sizable discoveries made over the last five years making clear the potential of these basins. Despite international oil company divestment from hydrocarbons, a suite of African independents are driving frontier exploration, with a panel discussion taking place during African Energy Week (AEW) 2022 ( exploring the role these independents play as well as growth strategies and risk mitigation across these unexplored basins.

Sponsored by Africa Oil Corporation and moderated by Justin Cochrane, Director: African Regional Research, S&P Global Commodity Insights, speakers included John Hamilton, CEO, Panoro; Jeremy Asher, CEO, Tower Resources; Keith Hill, President & CEO, Africa Oil Corp; Siraj Ahmed, CEO, Impact Oil & Gas; Kola Karim, CEO, Shoreline Energy; and Edson Dos Santos, CEO, Somoil, with a presentation delivered by Maggy Shino, Petroleum Commissioner of the Ministry of Mines and Energy, Namibia.

During her presentation, Shino emphasized the potential of Namibia’s frontier market, stating that, “Despite all the wells that have been drilled, we have barely scratched the surface of the exploration agenda we have as a nation. There is still a big opportunity for us to discover more oil and gas resources. Where we are now, is that we have unlocked one basin: the Orange Basin. Namibia is greatly underexplored and this is why we are here speaking to you. A lot is still to come.”

Following on from Shino’s presentation, panelists discussed the most promising opportunities for E&P in Africa, emphasizing how marginal and onshore field opportunities have become highly attractive.

We are more focused offshore and that can be brought onstream quickly, specifically those near infrastructure

“We don’t need to neglect onshore developments. There are a lot of opportunities in this area. There are tremendous resources onshore with [less costs],” stated Alhomouz, adding that, “The sources of funds are limited and we are competing in a crowded field. We all knock on the same door: Afreximbank and the African Finance Corporation. The way forward is to find a way to work together more and share resources more. We need to develop plans together. If I coordinate my plans with others, we can save costs.”

Similarly, Hill stated that, “Advantage barrels is something people are looking at now. We started our journey in Kenya in 2008 and are still working to get first oil which is at a minimum three years away. Those opportunities are more difficult. We are more focused offshore and that can be brought onstream quickly, specifically those near infrastructure. We just don’t have enough oil and need to fill the decline. The oilfields are old and tired and require a lot of maintenance and investment, so we will need more exploration and the majors need to wake up to that. So, we need something that has a short cycle time.”

The discussion shifted towards the challenges faced by independents in the current market environment, with panelists offering solutions and strategies that can be adopted by independents to ensure E&P activity does not falter in 2022 and beyond.

“When it comes to exploration financing, you have to look at the constraints that the market is placing on us. When you look at the scale of exploration and supply gap that is coming up, the amount of exploration that needs to be done, there is cause for concern whether there will be enough equity capital. Appraisal and development funding is different with different risks. The further you move down, the more role there is for traders and the banks themselves. It is interesting to see African banks giving more interest in the area,” stated Asher.

Expanding on the notion of financing, Karim provided insight, stating that, “We started as an independent taking advantage of the divestments of international oil companies in Nigeria. We have lived through four cycles of high oil prices and low prices. This has given us the supportive balance sheet to handle what is happening. If you see what people are doing in the industry, global majors are divesting assets, and this creates opportunities for independents with balance sheets to take them over. What is changing is that local financial houses have astronomical limits today. In 2011, Standard bank wrote a check of $850 million for us.”

According to Hamilton, the state of the financing game has changed, with companies shifting their interest back to oil and gas. “We bought assets a year and half ago and were the first company raising money to do an acquisition and what we found is that half of the people said no, they don’t do oil and gas. The ones interested want to know the company is looking at the energy transition, is well managed and is looking at ESG. Now, we are finding the people who were not interested are now coming back to the table, wanting to capitalize on the prices and are saying they see the role oil and gas plays. We are finding a lot more traction with the financial community in terms of interest in what we are doing.”

“For good opportunities and high-quality opportunities, there will always be capital. The question is what is the price of capital and how much is available. For the right projects, the capital is available and it is not always the places you would think to go to. You need to be open to different ideas. If you can get the right participants behind you and have the right anchored support,” stated Ahmed.

[dodge_city] 21/10/2022 09:41

It's pretty clear now that Cameroon is a dead duck, if it ever was really alive.

[moneymunch] 21/10/2022 07:15

An Indian JV partner for Tower's offshore Namibia huge acerage, with similar geology and mult-billion barrel potential to the Orange Basin???? Another potential suitor along with a long list of Major's!!!???? Gla ;-)


NEW DELHI : India, the world’s third biggest oil importer, is looking to secure a long-term crude oil supply deal from Namibia, which is being hailed for one of the world’s largest oil finds in recent years, said two people aware of the development.

This is part of India’s aggressive energy-sourcing diversification playbook.

India’s plan of charting new geography to meet its energy needs comes against the backdrop of French energy majors TotalEnergies and Shell Plc making “giant" oil discoveries.

India has been trying to diversify its energy supplies with Indian Oil Corp. recently signing a long-term contract to procure crude oil from Colombia’s state-run Ecopetrol SA and Brazil’s state-run Petroleo Brasileiro SA (Petrobras).

...................

As reported by Mint earlier, Indian state-run firms have increased efforts to acquire equity energy amid an uncertain global energy market. These include an Indian consortium led by ONGC Videsh Ltd, with Indian Oil Corp. Ltd, Bharat Petroresources Ltd and Oil India Ltd as members aiming to acquire a stake in a hydrocarbon producing asset of UAE’s Abu Dhabi National Oil Co.

[moneymunch] 21/10/2022 06:59

Tower's SA acerage straddles Totalenergies two huge SA gas discoveries. Gla ;-)

[moneymunch] 21/10/2022 06:55

CEF details Southern African oil, gas projects

20th October 2022


State-owned energy company the Central Energy Fund (CEF) Group CEO Dr Ishmael Poolo this week highlighted oil and gas developments in Southern Africa, including discoveries of oil in Namibia, drilling for oil and gas in Zimbabwe, discoveries of and drilling for oil and gas off South Africa, as well as progress of its first commercial liquefied natural gas plant.

In February, energy and petrochemicals multinational Shell, through the Graff project, in Namibia, and energy multinational TotalEnergies, through the Venus project, also in Namibia, made significant discoveries of oil, in the Southern African Development Community region, he noted in a speech during African Energy Week.


TotalEnergies and its partners have also announced discoveries in blocks 11B and 12B off the coast of Mossel Bay over the past few years, said Poolo.

"On September 5, TotalEnergies lodged the production right application with our petroleum regulator. This demonstrates their commitment to invest and be part of developing the South Africa’s oil and gas sector. The country is fully committed to supporting TotalEnergies and partners as they advance this project forward," he added.


Further, oil and gas exploration company Eco (Atlantic) Oil & Gas, on August 12, mobilised a drilling rig to drill the Gazania-1 prospect Block 2B at the Orange basin offshore the west coast of the Northern Cape. The drilling campaign is expected to start soon and to target approximately 300-million barrels of light oil resources.

"This [project] further confirms companies’ commitment to invest in South Africa’s upstream oil and gas sector and assist government in its drive to address the socioeconomic challenges facing our country.

“As the regulators, we will be monitoring this development closely and offer to support Eco Atlantic to ensure delivery on its planned drilling programme," Poolo emphasised.

Meanwhile, upstream oil and gas company Invictus Energy expects to start drilling its first exploration well for oil and gas in the northern part of Zimbabwe, in the Mukuyu-1 prospect. The drilling campaign is expected to start this year, and it has been estimated that the Mukuyu-1 prospect will cost around $16-million. It is also part of Invictus’ Cahora Bassa project.

Locally, helium and domestic natural gas producer Renergen has recently announced that the Virginia Gas Project Plant, in the Free State, is operational and is beginning delivery to customers, he highlighted.

"The Virginia Gas Plant is South Africa’s first commercial LNG plant. This is a significant milestone in the country’s drive to reduce its carbon footprint. Through the CEF, government is in the process of acquiring 10% stake in the project by investing significant capital in this gas discovery.

"Africa, Southern Africa and South Africa are well endowed in energy sources that include coal, oil, gas, renewable energy, and associated mineral resources. Africa’s future prosperity depends in large part on solving the energy gaps, providing power that is affordable for the households and reliable power for businesses," Poolo stated.

In South Africa, the Quarterly Labour Force Survey for the first quarter of this year puts the unemployment rate at 64% for those aged 15 to 24, and 42% for those aged 25 to 34 years, while the current official national unemployment rate stands at 34.5%.

"Electricity shortages reduce the likelihood of an individual being employed in a high skilled job by 35% to 41% and of being self employed by 32% to 47%. Further, economists tell us that, to reduce unemployment by at least 1%, a country’s gross domestic product (GDP) must grow at above a 4% rate for one year.

"South Africa’s current and projected GDP growth levels, coupled with unreliable electricity supply, are not adequate to address the ticking timebomb that is youth employment. We must use all resources available and reach out to all players to address South Africa’s power challenges, including coal, oil, gas and renewables, as the basis of an energy-rich future," he emphasised.

Energy is the backbone of economic development. Evidence suggests a positive correlation between an increased generation capacity and economic growth. As economies grow, energy demand increases. If energy is constrained, GDP growth pulls back, Poolo said.

Additionally, the African Continental Free Trade Area agreement presents an opportunity to develop an integrated energy system. For South Africa, there lies an opportunity to import LNG into Coega and Richards Bay.

"CEF is at an advanced collaborative process with National Hydrocarbon Company ENH in Mozambique and with [energy and chemicals company] Sasol in South Africa to see this project through," he added.

Meanwhile, Poolo highlighted changes in energy policies around the world, including in Germany, which since the first quarter of this year, has restarted its mothballed coal-fired power plants to offset the reduction in supply of its natural gas from Russia, and is also extending the life of its nuclear power plants.

The UK is expected to announce dozens of new North Sea oil and gas exploration licences to boost domestic production.

"We have been witnessing changes in energy policies around the world regarding the use of fossil fuels, including coal, oil, gas and nuclear, which confirms countries commitment to pursue development of their indigenous resources for their own energy sovereignty and security.

"As Africans, we should remain committed to our goals to curb climate change; however, our ambitions should not stand in the way of our developmental imperatives, among them, ending poverty on our continent," Poolo stated.

CEF strongly supports gas to power as either baseload, mid-merit or peaking power plants, while South Africa maintains its old coal-fired power plants within the medium term.

"We should use renewables to complement the baseload and offset the emissions that come with installing these fossil fuel-based energy sources. We have looked closely at the US coal to gas switching trajectory, since 2005 - they have reported over 60% of emission reduction.

“As a country committed to the low carbon future, we are looking forward to build and or to convert more gas to power stations alongside other less emitting energy sources," he said.

[moneymunch] 20/10/2022 16:34

C'mon JA, when you're ready!!! :-)

[moneymunch] 20/10/2022 16:34

“The new discoveries we have at this stage are just the beginning of an era, in terms of the potential for the hydrocarbons we have as a nation,” said Maggy Shino, Petroleum Commissioner, Ministry of Mines and Energy Namibia. “The geology of Namibia has been tricky. Our first well was a hit with Kudu gas, but the following wells were not a success. We have an environment with volcanics, which sent our investors on a goose hunt chase. Now, we have managed to resolve that puzzle and open up that play. Our strategy is to drive exploration so that we can replicate the success we have in the Orange Basin.”

“We need to focus on the value chain that creates production,” said Ejike Egbuagu, CEO of Moneda Investment Africa. “We are operating in a market where yield is very scarce. Namibia is channeling investment into pockets of opportunity, bringing capacity from other countries like Nigeria, Uganda and Angola, and working in partnership with Namibian companies to participate in first oil. There will be a lot of activities going up to first oil.”

....

The Country Spotlight was concluded with presentations by Bridget Venner, Namibia Lead Country Manager, ExxonMobil; Klaus Endersen, General Manager of BW Kudu; and Immanuel Mulunga, Managing Director of NAMCOR.

[chopsy] 20/10/2022 16:33

5m buy at the end. Anything related to GBP rise?

[tanboy1950] 19/10/2022 14:33

Wow 8 Million Sell Someone Is Not Hanging Around

[moneymunch] 19/10/2022 11:40

 JA is in the right place to get a deal or two signed and delivered. Gla :-)