Tower Resources Share Discussion Threads

[holts] 08/9/2016 08:19

Another consolidation required , how they get away with this is beyond me .

[judijudi] 08/9/2016 08:19

A premier example of aim management at their finest!!!

[chinahere] 08/9/2016 08:15

I make it around 90 million shares after this. 3 times what they have now....

[rayrac] 08/9/2016 08:02

Well, the directors are taking shares in lue of cash, so I can't see the greed in that, only further risk? But if they can't get 'partnered', then it's lights out surely?

[flyingbull] 31/8/2016 15:42

August was a good month for the oil price. The challage is on for September!
Fancy a challenge? Which oil stocks do you think will gain or which will lose?

[rayrac] 31/8/2016 15:08

Even more! Looking bad!

[rayrac] 26/8/2016 17:18

Still holding, even if m&g etc are reducing.

[edlog] 25/8/2016 17:14

Yes,agree we could see some uplift from now,could be worth averaging down.

[ohisay] 25/8/2016 16:28

And yet this is now really undervalued as its probably trading materially below cash.
Current market cap £1.6m ,cash in April around £2.5m.

Any company with some decent paper/spare cash would be looking at this company IMV.It was effectively around 50p when M&G /other investors were stumping up cash 12 months ago - nothings changed much since.

[judijudi] 22/7/2016 11:38

Absolutely woefull performance
Yet the snouts in the trough continue to bleed this dry!!

[mr hangman] 09/6/2016 11:45

Yeah stick to being a pretend Beatle

[ringosstar] 23/5/2016 07:32

Welwitschia-1A may still have hc's, it was the cost of continuing that frightened off Repsol having failed to find hc's at the shallower intervals with the prospect then of falling oil prices.

If GBP can find a partner with balls and if it is ever cost effective they are probably right to be optimistic.

To be negative based on an incomplete well next door block is being narrow minded.

I recall Woodside doing the same offshore Kenya a few years back in Block L7, which they then relinquished only for it to be snapped up by another company for a song, may see that money was not wasted long before GBP get started.

Not for me offshore Namibia anymore, maybe my 2 year old Grandson will want to get invested when he grows up.

The time may be right then?

[edlog] 29/4/2016 14:31

GBP still interested in finding some "glowing in the dark" Namibian Project

The Namibian Project consists of an 85% participating interest in Petroleum Exploration Licence Number 29 ("Licence") covering Offshore Blocks 1910B and 2010A in the Republic of Namibia. The Licence, issued on 3 December 2010, covers 11,730 square kilometres and is located in offshore Namibia in water depths ranging from 1,300 metres to 3,000 metres (Refer Figure 1).

The Initial Exploration Period of the Licence expired in December 2014, and Global fulfilled its corresponding work obligations approximately halfway through the initial four year term. They included reinterpretation of 2,800 kilometres of purchased seismic, and commissioning a high resolution 2D seismic acquisition programme of approximately 2,000 kilometres over the acreage. The new data confirmed the presence of two large structures and other potential leads. Accordingly, the Company decided to seek a partner for the next phase of exploration activity on its acreage, commencing with 3D seismic. This ultimately proved unsuccessful given recent mixed drilling results both in Namibia and Atlantic margin frontier plays generally, coupled with the low oil price environment having negatively affected industry and market sentiment. Inevitably, this had a bearing on farm-out processes in Namibia.

Of the wells drilled offshore Namibia, Global regards the HRT operated Wingat-1 well as being the most significant in that liquid hydrocarbons were recovered from the Aptian interval, thus establishing for the first time the presence of a source rock actively generating oil in the Walvis Basin.

Global Petroleum also remains optimistic about the potential of its Namibian blocks given the technical differentiation between the prospectivity on its blocks and the target drilled by Repsol in the neighbouring block in mid-2014 - Welwitschia-1A. Notwithstanding the relative proximity of the assets, the great majority of the prospectivity in Global's acreage is mapped in older sediments. The deeper structures were not reached by the Welwitschia-1A well. Therefore, the significant potential of these deeper traps and reservoirs remains untested.

[rayrac] 21/4/2016 11:50

Well, I'm not selling. The oil price is probably on the mend and the directors are sitting tight, so there!😠€164;

[mr hangman] 15/4/2016 12:53

Disagree the Towering inferno had some survivors

[mach100] 15/4/2016 12:36

Anyone seen the Towering inferno? Brilliant disaster movie from the 70s and the inspiration for T ... oh wait. I saw the presentation last week and since then it has sank faster than a Madonna movie. Is ti worth it even with it trading at cash?

[ohisay] 15/4/2016 05:59

Trading at cash basically, having lost ~ a third of its value post consolidation.

[zeberdie] 13/4/2016 17:02

Mmm 7 bagged already in 5 months.

[zeberdie] 13/4/2016 16:48

That's my night sorted, thank you very much.

[trulyscrumptious] 13/4/2016 16:43

zeberdie. If you want to see a properly run oil company check out
hxxp://www.pantheonresources.com/
and listen to the CEO interviews.
Loads of news due, 6 wells to drill this year, more than that next year, oil coming on stream this Q2, lots of money in the bank, proving up a fantastic acreage before selling the entire company. I would be happy with £5 or £6 per share but I am expecting a lot more.