Share Name Share Symbol Market Type Share ISIN Share Description
Tower Resources Plc LSE:TRP London Ordinary Share GB00BZ6D6J81 ORD GBP0.00001
  Price Change % Change Share Price Shares Traded Last Trade
  -0.01 -2.94% 0.33 6,978,719 16:23:42
Bid Price Offer Price High Price Low Price Open Price
0.32 0.34 0.335 0.33 0.335
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -1.36 -0.11 7
Last Trade Time Trade Type Trade Size Trade Price Currency
16:23:32 O 156,657 0.323 GBX

Tower Resources (TRP) Latest News

More Tower Resources News
Tower Resources Investors    Tower Resources Takeover Rumours

Tower Resources (TRP) Discussions and Chat

Tower Resources Forums and Chat

Date Time Title Posts
22/9/202110:09TOWER RESOURCES27,245
03/8/202116:16Tower Resources with Volume Charts64
26/8/201916:17Tower Resources - the next Ascent Capital/Bruce Rowan connected shell24
13/7/201910:12Tower Resources at the UK Investor Show6

Add a New Thread

Tower Resources (TRP) Most Recent Trades

No Trades
Trade Time Trade Price Trade Size Trade Value Trade Type
View all Tower Resources trades in real-time

Tower Resources (TRP) Top Chat Posts

Tower Resources Daily Update: Tower Resources Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker TRP. The last closing price for Tower Resources was 0.34p.
Tower Resources Plc has a 4 week average price of 0.33p and a 12 week average price of 0.22p.
The 1 year high share price is 0.67p while the 1 year low share price is currently 0.22p.
There are currently 2,109,172,592 shares in issue and the average daily traded volume is 35,054,749 shares. The market capitalisation of Tower Resources Plc is £6,960,269.55.
moneymunch: 10 August 2021 Tower Resources plc Cameroon Farm-out Update Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN)), the AIM-listed oil and gas company with its focus on Africa, is pleased to announce that it has executed a binding Heads of Agreement ("HoA") in respect of a farm-out to Beluga Energy Limited ("Beluga") of a 49% non-operating working interest in its Thali Production Sharing Contract ("PSC") in Cameroon, conducted through its wholly-owned subsidiary Tower Resources Cameroon S.A ("TRCSA"). The key economic elements of the transaction set out in the HoA are: -- The farm-out covers US$15 million towards the cost of the NJOM-3 well that Tower is planning to drill on the Thali block; -- Beluga will receive a 49% working interest in the PSC, subject to an overriding royalty of 10% for Tower's subsidiary TRCSA on the contractor share of production accruing to Beluga under the PSC; -- The well cost is currently expected to be approximately US$16.8 million, of which approximately US$3 million has already been spent; -- Each party will recover costs actually funded and recoverable under the PSC, pari-passu; -- Tower will effectively contribute its non-recoverable costs in consideration of the 10% overriding royalty on the contractor share of production referred to above; -- Costs in excess of U$15 million, and future costs, will be funded pro-rata with respect to Tower's and Beluga's working interests. The HoA are binding subject only to final documentation, a financing contingency requiring Beluga's shareholders' approval, and approval of the Minister of Mines, Industry and Technological Development ("MINMIDT"). The draft Joint Operating Agreement ("JOA") between Tower and Beluga has already been prepared, and together with the draft farm-out agreement will shortly be submitted to MINMIDT for approval, which is expected to occur within 60 days of submission of the file according to the Petroleum Code. Tower and Beluga intend to complete the transaction by 30(th) September 2021, subject to any delays in completing the conditions precedent. Tower, through TRCSA, will remain Operator of the Thali PSC under the JOA, and in the event the formal farm-in agreement and approvals cannot be completed in good time then Beluga will instead receive an appropriate share of the Operator's share capital and Tower's intercompany loans to the Operator, subject to a shareholder agreement, in order to reflect the intended farm-in economics and JOA terms. Tower has been advised by Envoi Limited and Powerline Consulting during the recent farm-out process. Tower is presently negotiating a contract for a rig to drill the NJOM-3 well, and will announce when this and other major service contracts in respect of the NJOM-3 well are concluded, though this is not expected to be until after completion of the farm-out agreement. Tower is also in discussions regarding an option agreement over a Mobile Oil Production Unit ("MOPU") suitable for the Thali project. Beluga Energy Limited is a privately-held energy commodity trading house with operations in Africa and the international oil market. Beluga engages in proprietary trading: sourcing crude oil and refined products including LNG, LPG, natural gas condensate, naphtha, gasoline, jet fuel, gas oil, fuel oil and bitumen and their transportation from lower demand to higher demand regions. Beluga is pursuing a strategy of expanding vertically in the sector through investment in its dedicated exploration and production subsidiary. More information can be found on Beluga's website at www.belugaenergy.com Warebibo Soroh, the CEO of Beluga, commented: "We are pleased to be associated with Tower's management team in the development of the Thali block in Cameroon. This investment fits perfectly with our strategy to invest in de-risked upstream assets, and supports the integration of our services from downstream to upstream. Our technical team has extensive experience in developing assets in the Gulf of Guinea and will collaborate with Tower in bringing the Thali block to first oil." Jeremy Asher, Tower's Chairman and CEO, added: "We are delighted to have the opportunity to work with Warebibo Soroh and his colleagues at Beluga, and to fulfil our shared ambition to move this project forward to oil production in Cameroon. Short-cycle oil and gas development projects such as this have excellent economics, which reflect their importance to Africa's overall energy balance. The Njonji structure on which we are drilling the NJOM-3 well is one of several attractive structures on the Thali block, and we are looking forward to a great future developing these resources together."
chesty1: I was posting on the way up & you was trying to shut me up! Well the share price is proving the negative posters bang on the money! TRP will always be a p&d...News could change that but don't see it imho.....
yellowdog: It's a pure punt/gamble isn't it? 1) Sign a farm out 2)find a lot of oil - share price could hit £1. Question - how much should one invest/risk in TRP. £5000 will get you 1 million shares. If 1&2 are satisfied 20x the current mkt. cap.is £160m which looks very cheap if they find anyway near the amount of oil they are talking about. KIST has a Mkt.Cap. of £199m and they only a bit of gas. And 20x the current share price of 5p is £1. So risk reward - a £5000 invest now could be worth £1m IF all goes well. Is that a bet worth taking. Comments please or what have I missed.
mr hangman: The only question is, when a placing is coming, the last placing for 50/- at the end of June, that Jeremy took up, won't last long,That was the real reason for the Proactive interview.Get the share price up, lots of excited muppets, most people know what's coming next, but some newbies on here think they have been privilege to inside information
moneymunch: If TRP are confident of concluding a Farm Out for the Cameroon prospect in the coming weeks, as suggested by JA in his recent interview, then no immediate fund raise would be required or likely, although i wouldn't be surprised if JA decided to raise funds for their other prospects following confirmation of a Farm Out with a major, whereby the share price would obviously be much higher than the current share price on such news, which would then enable JA to raise much more cash with less dilution compared to any immediate fund raise before confirmation of a Farm Out....obviously if no Farm Out is concluded, then they will have no choice, but JA couldn't have sounded more bullish in his interview that a Farm Out will happen.
chinahere: He did say it was at the asset level so hopefully not much of a placing. The share price action today is interesting.
chinahere: Just went through them and roughly 40% of the Warrants and Options look to be exercisable around the current share price and 60% over 1p. So if that is right the first tranche would give Tower £1.8m cash or so with 2.2 billion shares in issue, the second tranche another £6m with 2.8 billion shares in issue. So post-farmout and at say a 1.5p share price, we could have a market cap of £42 million with £8 million cash from Warrants and Options. Large upside if all goes well. Sounds sensible to me.
trulyscrumptious: Another one from LSE Don't forget TRP's South African acreage TRP has a 50% stake in the block adjacent to Total's massive Brulpadda discovery. P mean recoverable prospective resources are 1,983 MMBOE gross of which 1,401 MMBOE are in a single target. Given the location I expect TRP will have little trouble in farming out at the appropriate time. Definitely looks a company maker on its own.
fredo1976: JA is by far the biggest shareholder of TRP so I don't really think he wants to be diluted to oblivion. His current shareholding is worth more than £1m at the current share price
southway2: Interesting share price predictions from all.This was .5p not long ago and drifted .Now we have very substantial news coming anytime ( watch the proactive video)that will make share price multiples of today's price.The mcap is the important thing and make your own judgment.
Tower Resources share price data is direct from the London Stock Exchange
ADVFN Advertorial
Your Recent History
Tower Reso..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20210926 02:33:03