Tower Resources Share Discussion Threads

[acamas] 03/10/2016 12:10

Good luck to them this time.

They never did me any financial harm

[soulsauce] 03/10/2016 09:16

No problem Acamas, now they are going for it again in Cameroon as a last throw of the dice :-/

[acamas] 03/10/2016 09:13

soulsauce,

Thanks for the reply

[acamas] 03/10/2016 08:40

Just looked in on my travels across the BB's. Have Tower found any oil yet that they can produce in the future? I have been out of them for years started to go cold on them following Uganda dry wells situation seems like a decade ago now

[edlog] 30/9/2016 09:09

In rns 8 Sep. In addition, in order to provide shareholders the opportunity to subscribe for Ordinary Shares at the Placing Price, the Company intends to make an Open Offer to all qualifying UK shareholders shortly following Admission to raise up to £0.56 million (US$0.73 million) (the "Open Offer") at the Placing Price. The Placing is not conditional upon the Open Offer. The Open Offer will be subject to shareholder approval. A circular concerning the Open Offer and Notice of EGM will shortly be sent to Shareholders and will also be made available on the Company's website www.towerresources.co.uk.

[p@] 30/9/2016 08:50

When is the open offer for us P.I,s ?

Thnx Edlog,didn't want to post anew.

[investment dave] 19/9/2016 09:00

How's adgo doing loo

[investment dave] 16/9/2016 22:55

Adgo are a loss making company and had a torrid time

[liquidgold1] 15/9/2016 12:28

Fyi please check ADGO will be the next fast mover

will multibag once news on Albert 2 spreads around...

[apfindley] 15/9/2016 12:16

RayracIt means they have 250,000,000 shares to get rid of (just a small part of "the overhang" here).Massive quantity of shares to circulate and dump.Will depress the price of this failing company. Plus the previous rns clearly states they will need MORE funding.Shocking stuff..

[chinahere] 15/9/2016 08:37

Close to the beginning of the placing document it says:

"We have reduced our cost base further and will continue to do so, but we still require a modest amount of further working capital to extend cash reserves into the first quarter of 2017 as we proceed through the farmout process."

I read that as the Thali farm-out is all that is stopping a further fund-raising.

Anyone agree?

[rayrac] 14/9/2016 18:48

So what does today's news mean? Do they hold 25% of TRP now?!

[mikeygit] 13/9/2016 10:13

Dreadful state of affairs--would say more but do not want to get moderated!!

[mr hangman] 13/9/2016 09:18

Nearly down to the placing price

[mikeygit] 09/9/2016 13:26

Mr Hangman---and then do you think it would be a good time to buy back in!!!!!!!!!!!!? Ho Ho

[mr hangman] 09/9/2016 12:22

My betting in a couple of months your 1000 could be below 25 quid -- good eh??

[mikeygit] 09/9/2016 11:48

My 1000 quid plus in TRP and Rockhopper now worth 34 quid--good eh??

[mr hangman] 09/9/2016 09:11

I expect the price to fall back to 2.25 or lower now all the rampers of yesterday morning have now dissapeared

[ohisay] 09/9/2016 04:48

Even for TRP yesterdays announcement seemed remarkably inept.These guys are the confetti kings of course.
I dug out my old TMF note from a few years ago just to see how much dilution there'd been.



Back in 2008 there were 500m shsres in issue .

After todays announcement there will be 76m shares in issue followed by another 25m approx if the next PI tranche at 2.25p gets away - so around a 100m shares.
But thats post a 250-1 consolidation or 25 billion on a eggs for eggs "2008 basis"

Or a 50-1 dilution .
As the current price at circa 3p is just about the same as in early 2008 er investors have lost 98% of their cash.
Shucks.

Having said all that their acreage looks quite interesting esp Cameroon where a Bowleven or Sterling Energy each with 90m$ spare cash might conceivably be interested in a farm in.
Given Bowleven's let say somewhat tarnished reputation that might be a marriage made in heaven ...or somewhere...

[holts] 08/9/2016 18:57

Spent over a million in admin in last six months .

[holts] 08/9/2016 18:55

You have to admire their skill in finding and waffling to convince some larger investors , why they continue to support the cos is beyond me .