Tower Resources Share Discussion Threads

[moneymunch] 21/11/2022 07:22

He's got more skin in the game than anyone else and remains "very confident" of a succesful conclusion. Gla ;-)

[bad gateway] 21/11/2022 07:12

He's pulling the same scam he did last year imo. Been approved by the credit committee but not by the bank itself.
Should have another placing soon then radio silence til next years deal with another even better entity for nect years placings.


From last years "deal"

While the Company waits for a formal decret, Beluga continues to work on its financing process, and the Company continues to work with the intended rig provider and service companies on the schedule and terms for the NJOM-3 well.

[moneymunch] 21/11/2022 07:03

Cameroon Financing Update

Number : 9823G
Tower Resources PLC
21 November 2022
 



21 November 2022

Tower Resources plc

("Tower" or the "Company")

Cameroon Financing Update

 

Tower Resources plc (AIM: TRP.L), the Africa-focused energy company, is pleased to provide an update on its financing activity in respect of its Thali Production Sharing Contract (PSC), in the Rio Del Rey sedimentary basin offshore Cameroon.

 

Cameroon Financing:

 

Tower is pleased to announce that its subsidiary, Tower Resources Cameroon S.A ("TRCSA"), has been notified by BGFI Bank Group ("BGFI"), the largest bank group in Central Africa, that the medium term loan of approximately US$7 million for which TRCSA and BGFI agreed a term sheet at the end of June 2022 (the "Loan"), has been approved by the credit committee of the Cameroon bank. Further approval is still required at the BGFI group level and discussions are now turning to the details of the structure and documentation, as well as a potential modest enlargement of the facility.

 

Whilst the Company aims to complete these discussions as quickly as possible, it cannot be certain of when final approval will be received, if it is successful.

 

As previously disclosed, the Loan should cover around 40% of the approximate US$18 million cost of the well, with a further amount of 25% already having been paid for by TRCSA. The balance of 35% of the cost of the well is also to be funded by TRCSA. This balance may be funded by further financing at the asset level, or with corporate funds.

 

The Company is continuing to discuss additional financing options at the asset level, including with BGFI. The Company's current plan is to complete the Loan financing documentation, if possible, before seeking to conclude any further bank discussions.

 

 

Jeremy Asher, Tower's Chairman and CEO, commented:

 

"We are very happy with the progress in our discussions with BGFI Bank Group, and the support that the local bank has shown towards our project in Cameroon.

 

"Discussions regarding the rig options with suppliers and other operators are also continuing as expected. As previously announced, long lead items for the well have already been purchased, and the environmental and social impact assessment, site survey and site debris survey are complete. Therefore, we are in a position to move quickly once a rig slot is finalised.

 

"We remain very confident that we will be able to drill the NJOM-3 well in good time and thank our shareholders for their patience while we seek to conclude these discussions."

 

[mr hangman] 21/11/2022 06:45

It's sad to see Monkey crunch and our resident young lamb molester take their voyeurism to new levels.What they both fail to understand, holding a share can just be for Xmas, does not have to be for life

[sheepshagger1] 20/11/2022 20:38

Tanboy

MY average for my 16,000,000 TRP is 0.245p which I am very happy with.

Underwater slightly. Not bothered.

I rejoice at Hangman losing his shirt on ECO as he was continually telling us all that ECO was going places and TRP wasn't.

he is a moron.

[tanboy1950] 20/11/2022 20:06

I Dont Know Why Sheep Is Interested In You Loss Hangman When He Is Underwater Big Style.. Look Back 6 months Ago, When The Price Was 0ver 1/3rd Of A penny Now 0.205. He Was Buying Plenty.. Thats If You Believe A Word He Says..

[mr hangman] 20/11/2022 18:02

Credibility ?? That went out the window with the 3 Uganda drills many years ago

[sanilav] 20/11/2022 17:14

Credibility at stake here with that statement,hope you are right,for your sake.Hope you are right for our sakes.LOL

[felix0007] 20/11/2022 16:49

Whoops apologies all for the repetition!!

[felix0007] 20/11/2022 16:43

Sheeps. Well that would fit with JA's remarks this week and I assume your info comes from a good source!!

[felix0007] 20/11/2022 16:42

Sheeps. Well that would fit with JA's remarks this week and I assume your info comes from a good source!!

[felix0007] 20/11/2022 16:42

Sheeps. Well that would fit with JA's remarks this week and I assume your info comes from a good source!!

[sheepshagger1] 20/11/2022 16:13

Finance news on Thali project this coming week I am informed.

[peverill] 20/11/2022 15:16

It's about time Tower made a major announcement,let alone an anonymous avatar.

[mr hangman] 20/11/2022 11:16

I will be making a major announcement at 10am Monday

[sheepshagger1] 19/11/2022 17:45

Hangman

Be a man for once in your miserable life and tell us how much you have lost on ECO.

Go on give us all a laugh.

[mr hangman] 19/11/2022 17:28

I have not lost a penny on EDO, lol

[mr hangman] 19/11/2022 17:21

Monkey munch I'm begging you please please don't buy ECO

[felix0007] 19/11/2022 16:43

Sheeps, I think that should be ECO!

[sheepshagger1] 19/11/2022 10:09

Hangman

Be a man for once in your miserable life and tell us how much you have lost on EDO.

Go on give us all a laugh.

[moneymunch] 19/11/2022 08:48

More drilling: TotalEnergies' offices in Windhoek, Namibia

18/11/22

Namibian hotspot: Venus set for more drilling early 2023 as operator eyes two-rig campaign


TotalEnergies’ highly anticipated appraisal campaign on its huge Venus oil and gas discovery offshore Namibia will take place in early 2023.

Perhaps to make up for lost time, the operator is now studying the possibility of bringing two rigs into the country to accelerate appraisal and exploration drilling.

Upstream broke the news about the multi-billion barrel oil equivalent Venus and Shell-operated Graff discoveries in the Orange basin earlier this year, with both operators looking to fast track their appraisal and development.

[moneymunch] 18/11/2022 21:40

TRP , get ready for game changing news...ho ho :-)

[sheepshagger1] 18/11/2022 21:03

Hangman

Be a man for once in your miserable life and tell us how much you have lost on ECO.

Go on give us all a laugh.

[southway2] 18/11/2022 14:55

What farmout ?It's finance agreements to be finalised we're waiting for