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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
  -0.0175 -8.14% 0.1975 4,925,033 08:14:52
Bid Price Offer Price High Price Low Price Open Price
0.185 0.21 0.215 0.1975 0.215
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.03 7
Last Trade Time Trade Type Trade Size Trade Price Currency
08:43:36 O 536,886 0.187 GBX

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Date Time Title Posts
28/11/202208:59TOWER RESOURCES31,808
25/11/202212:42Tower Resources, stratospheric RISER from 0.25p1,544
13/10/202208:44Tower Resources..A 100 BAGGAR IN THE MAKING from 0.25p to 25p.955
02/11/202109:10TRP board very quite on here10
03/8/202115:16Tower Resources with Volume Charts64

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Tower Resources (TRP) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
08:43:380.19536,8861,003.98O
08:25:350.2143,13890.50O
08:22:470.19311,428581.12O
08:21:280.1989,475166.96O
08:14:300.191,031,9922,000.00O
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Tower Resources (TRP) Top Chat Posts

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Posted at 28/11/2022 08:20 by 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 0.22p.
Tower Resources Plc has a 4 week average price of 0.18p and a 12 week average price of 0.18p.
The 1 year high share price is 0.42p while the 1 year low share price is currently 0.18p.
There are currently 3,543,237,955 shares in issue and the average daily traded volume is 39,923,770 shares. The market capitalisation of Tower Resources Plc is £6,997,894.96.
Posted at 25/11/2022 07:12 by moneymunch
Lol Sheep, mr hanglose is obviously some what confused about how much he's lost at ECO, as he claimed/boasted that he had doubled his ECO holding 6th April at 30p a share on the Primary Bid/Placing....he he ;-)


mr hangman

5 Apr '22 - 19:57 - 67 of 1539

Time to download your Primary bid apps, guys this is your chance

Jimarilo

6 Apr '22 - 01:11 - 68 of 1539

H, I thought you said eco had enough cash and in any case they ALWAYS raise at a premium to the share price ??? lol

You would think they had enough cash to raise after their drill in S/Africa

moneymunch

6 Apr '22 - 05:53 - 69 of 1539  Edit

I did warn him several times that ECO would be having a large placing, in repsonse to his incessant repetitive "placing coming here" posts .....and anyone considering the Primary Bid will no doubt be better off waiting for the share price to drop below 30p, as it surely will. Gla ;-)

mr hangman

6 Apr '22 - 11:52 - 77 of 1539

I have X2 my holding here, it's far to cheap

Posted at 22/11/2022 06:56 by moneymunch
Any good news for GBP will be also be good for TRP as they have a 25% free carry on GBP's prospect. Gla ;-)


From TRP June 2020

"Tower observes that this figure corresponds to the portion of the prospect on block 2011A, and notes that approximately 25% of the Welwitschia structure lies in block 1911, which is covered by Tower's license PEL 96. Although this proportion is an estimate made without the details of Global's detailed reinterpretation, it would imply that the total Best Estimate unrisked gross prospective resources of the Welwitschia Deep prospect's entire structure would be in the region of 895 million barrels. Of this, approximately 224 million barrels would lie in block 1911, of which approximately 179 million barrels would be attributable to Tower."

https://uk.advfn.com/stock-market/london/tower-resources-TRP/share-news/Tower-Resources-PLC-Namibia-Update/82934625



"As previously disclosed, Tower received an unsolicited approach from a Major oil company regarding its license PEL 96 in the second half of 2019. That company has told Tower that it remains interested in working on this project, but has not prioritised it during the first half of 2020, and we expect discussions to remain on the back burner in the second half of the year, or at least until the Covid-19 pandemic situation is clearer. This has not affected our own plans for the license, and we await with great interest the outcome of further work, such as Global's, and also further wells being drilled in Namibia, including Shell's well on license PEL 39 and Total's Venus well, all of which will enhance our own basin modelling and prospect evaluation."

Posted at 22/11/2022 06:53 by moneymunch
Lol satkaur, good luck with GBP, although not sure if you are aware but as well as Cameroon, South Africa and Namibia , TRP also has a 25% free carry on GBP's offshore Namibian block. Gl ;-)

From TRP June 2020

"Tower observes that this figure corresponds to the portion of the prospect on block 2011A, and notes that approximately 25% of the Welwitschia structure lies in block 1911, which is covered by Tower's license PEL 96. Although this proportion is an estimate made without the details of Global's detailed reinterpretation, it would imply that the total Best Estimate unrisked gross prospective resources of the Welwitschia Deep prospect's entire structure would be in the region of 895 million barrels. Of this, approximately 224 million barrels would lie in block 1911, of which approximately 179 million barrels would be attributable to Tower."

https://uk.advfn.com/stock-market/london/tower-resources-TRP/share-news/Tower-Resources-PLC-Namibia-Update/82934625



"As previously disclosed, Tower received an unsolicited approach from a Major oil company regarding its license PEL 96 in the second half of 2019. That company has told Tower that it remains interested in working on this project, but has not prioritised it during the first half of 2020, and we expect discussions to remain on the back burner in the second half of the year, or at least until the Covid-19 pandemic situation is clearer. This has not affected our own plans for the license, and we await with great interest the outcome of further work, such as Global's, and also further wells being drilled in Namibia, including Shell's well on license PEL 39 and Total's Venus well, all of which will enhance our own basin modelling and prospect evaluation."

Posted at 21/11/2022 08:37 by dodge_city
7 million market cap is extremely generous. The share price is heading for 0.1p imo.
Posted at 16/11/2022 20:56 by felix0007
Whatever your thoughts are about JA, he is very prompt to respond to shareholder enquiries and I do believe he is working hard to ensure the maximum share holder return possible. It should be noted I have also emailed David Horgan at Clontarf and as yet have not received a response!

My thoughts are well summarised by a post this evening on the other thread:

I Picked up on this again just recently and bought back in, I have been reading the chat and have noticed the frustration over delay in news, dilutions etc. As mentioned by others, I would agree It would seem there is a lot going on in the background for sure. Its noteworthy that JA has a significant amount of his own money invested here, not just a token amount. There is no doubt in my mind that there must be a lot of ‘Sub Rosa’ negotiations going on in the background to get the best deal, maybe several other companies, possibly even a buyer for all of TRP’s assets, time will tell but with the amount he has invested, I feel sure JA is not being idle. All of TRP assets are in areas of increased activity and interest and now proven working HC systems. Further to the original financing arrangements, there must be additional JV discussions going on with regards to all the TRP blocks, either as separate assets or even as a whole lump, hence the protracted delay. All will be revealed But in due course, I feel sure this will be a multi-bagger.

Posted at 04/10/2022 12:06 by southway2
Is it the 119m mcap (7m trp) that's holding back the share price at eco ? Great prospects but will there be enthusiasm for upside until result ?
Posted at 02/10/2022 13:59 by mhard1000
Can anyone enlighten me as to how TRP compare to Rockhopper when they found oil in the falklands back in 2010 - their share price rose from 40p to £6 in one month with a peak of 120k barrels peak at that time. How do our oil discoveries in the Cameroon basin compare to that? They are much easier to extract than falkslands and also the reserves confirmed are much bigger.
Posted at 30/9/2022 21:16 by tradedesk1
Matters not really whether the drill is before year end or early in the New Year, there's not much time difference in that. The major catalyst in the immediate is financing the drill its been years in the making and its valued at £6m for that reason otherwise no discovery trades at this discount, the moment the banks give the nod here its completely derisked to spud and the share price will go bonza all the way to Xmas and New Year unimpeded because what follows the financing is all good news (a firm spud date, rig contract, rig mobilisation, the drill commencing etc + PR to boot). You have to keep in mind this will be travelling from a very very low mcap a paltry £6m and the NPV10 is $305m, it could comfortably tag £70m mcap in the run up to spud and still look cheap, that would position it around 2p that is 800% upside from here. If you want to go more conservative than that then £35m mcap is 1p that is still 400% upside from current price.

The key bit of new information from todays Interims is that a second bank has stepped up for $10m and BGFI is ready to give the approval on the $7m. TRP retains 100% of the asset. The risk reward improved massively with that second bank coming in. Asher lumped in another £250k of his personal money recently, thats not your token buy and now we have this second bank showing there hand, so looks near done to me. They are cashed up with £1.5m after the recent raise so plenty in the bank. Let's see what next week onwards brings.

Have a great weekend all

Posted at 31/8/2022 18:39 by sheepshagger1
In Jan 2019 the TRP CEO bought £260,000 worth of shares at 1p !!!!!!




24 January 2019

Tower Resources plc

Completion of Placing and Director's Dealings

Grant of Options

Issue of Warrants

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, further to the Company's announcement earlier today outlining the proposed placing and subscription (the "Placing") for 170 million new Ordinary Shares (the "Placing Shares"), the Company has successfully placed 170,000,000 new Ordinary Shares together with 85 million of attached three-year 1.25p warrants and raised gross proceeds totalling GBP1.7 million at a Placing Price of 1.00 pence per share.

As previously disclosed, the purpose of the Placing is principally to fund long-lead items pursuant to the drilling of the Thali NJOM-3 well, offshore Cameroon, scheduled for Q2 2019, and for other costs related to the Thali work programme, and general working capital while the Company seeks to complete borrowing facilities to fund its forward work programme at Njonji in particular.

As part of the Placing, Jeremy Asher, Chairman and CEO, has entered into an Agreement (the "Subscription Agreement") to subscribe for, in aggregate, 25,850,000 new Ordinary Shares in the Placing (with attached warrants) for GBP258,500 as further detailed below; and Peter Taylor (a Director of the Company) has entered into a Subscription Agreement in respect of 3,000,000 new Ordinary Shares in the Placing (with attached warrants) for GBP30,000 as further detailed below.

Posted at 02/8/2022 06:02 by moneymunch
2 August 2022

Tower Resources plc

Placing and Subscription to raise £1.5 million

Cameroon Financing 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 announces that the Company has raised gross proceeds of £1,499,999 through a placing and subscription of approximately 857,142,286 new ordinary shares of 0.001 pence each (the "Placing Shares") at a price of 0.175 pence per Placing Share (the "Placing Price") (the "Placing").

As part of the Placing, Jeremy Asher, Chairman and CEO, has entered into a subscription agreement to subscribe for, in aggregate, 142,857,143 new Placing Shares in the Placing for £250,000 as further detailed below.

Cameroon Financing Update

The Company and BGFI Bank Group ("BGFI") are continuing to work on the documentation and final approvals for the loan to Tower Resources Cameroon SA ("TRCSA") towards the financing of the NJOM-3 well, as set out in the Company's announcement of 29 June 2022. This process is currently expected to be complete by the end of September 2022. In the meantime the Company is continuing to discuss additional financing options at the asset level, as also disclosed on 29 June 2022, for additional amounts in the US$5-10 million range with various parties, in order to complete the well financing or more. The Company is also progressing rig and service company contracts and would like to be in a position to make advance payments in respect of such contracts if required, in order to ensure rig and service availability.

The Placing

While the financing discussions in respect of the NJOM-3 well are concluded, the Company has raised approximately £1.5 million for the preparation of the drilling of the NJOM-3 well, including payments on account of services associated with the well, and for working capital purposes via the Placing and subscription. A small portion of the funds raised will also be used to advance the Company's other 2022 work programs in Namibia and South Africa, including the basin modelling work currently underway on the Company's Namibian license PEL 96.

The Company has also issued a broker warrant in favour of Novum granting it the right to acquire 10,588,228 ordinary shares for a period of two years at a price of 0.425p per share.

Jeremy Asher, Chairman and CEO, commented:

"We are as confident as we can be about the completion of the TRCSA loan financing and other asset financing to complete the NJOM-3 well. We are also paying attention to the tighter markets for rigs and services, and we want to keep the operational discussions moving in parallel with the financial discussions. I have offered to participate in this Placing myself to underscore my personal confidence in our reaching our goals with the NJOM-3 well."



Related Party Transaction

The participation of Jeremy Asher constitutes a related party transaction in accordance with AIM Rule 13. Accordingly, Dr Mark Enfield and Paula Brancato, acting as the independent Directors, consider, having consulted with the Company's Nominated Adviser, share price Angel Corporate Finance LLP, that the terms of Jeremy Asher's participation in the Placing is fair and reasonable insofar as the Company's shareholders are concerned.

The following table sets out the Directors' shareholdings and percentage interests in the issued share capital of the Company following completion of the Placing and subscription.

https://www.londonstockexchange.com/news-article/TRP/placing-and-subscription-to-raise-ps1-5-million/15566323

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