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Tower Resources Share Chat (TRP)



Share Price: 0.725Bid: 0.70Ask: 0.75Change: 0.00 (0.00%)No Movement on Tower Resources
Spread: 0.05Spread as %: 7.14%Open: 0.775High: 0.775Low: 0.725Yesterday’s Close: 0.725


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johnm07
Posts: 1,164
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:0.73
View Thread (5)
RE: South Africa.
Today 13:11
I think the 'good news' part is Kenya looks like a better prospect than SA at the moment, given Total's problems.

So if we were doing SA next instead of Kenya, it would likely be another duster. If Kenya is a strike in between, then that's better news than drilling yet another duster in order.
 
tijaarah
Posts: 118
Observation
Opinion:No Opinion
Price:0.73
View Thread (5)
RE: South Africa.
Today 10:58
Edlog said it was a good thing trouble have gone for Kenya first, so just trying to see where the good news is, after averaging down I need around 2p and then I'm out of this dump... dusters after dusters
guernseylse
Posts: 828
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:0.73
View Thread (5)
RE: South Africa.
Today 10:38
Who said it was good news?
tijaarah
Posts: 118
Observation
Opinion:No Opinion
Price:0.73
View Thread (5)
RE: South Africa.
Today 10:22
Out of curiosity how is this good news? If total struggled to reach target depth due to difficult drilling conditions with them being in the neighboring block, will trp have greater success?!

Time will tell but its make or break I guess
EDLOG
Posts: 215
Off Topic
Opinion:No Opinion
Price:0.73
View Thread (5)
South Africa.
Today 09:47
looks as if Tower made the right decision to go for Kenya first.----- taken from II board. Below is a copy of a post on RKH board but I thought it has as much relevance here as TRP through Rift have the neighbouring block.

" supermajor Total has been forced to suspend its challenging Brulpadda-1 wildcat off South Africa for mechanical reasons, writes Iain Esau.
Ocean Rig’s Eirik Raude semi-submersible had been drilling the probe in Block 11B/12B but is now off location because mechanical problems were discovered that relate to “the deterioration of the fairleaders”, said a spokesperson.

The well was suspended short of its target depth.

Industry sources said subsea conditions were difficult with current speeds as high as 11 metres per second.

Sources suggested that Eirik Raude and its riser systems were unable to handle these challenging conditions but this was denied by Total.

“The Eirik Raude and its riser system have proven their validity for work in such challenging sea and current conditions,” said the spokesperson. The weather window closes on 31 October so Total does not have time to repair the rig and re-enter the well.

Total’s spokesperson said: “Repairs of the fairleaders in a sheltered harbour will take a few weeks while at the same time the drilling period is constrained by weather and current conditions with the favourable (period) ending on 31 October.”

As a result, Total has released Eirik Raude and will use another rig to re-enter Brulpadda-1.

“Eirik Raude is committed under another contract next year so it won’t be able to... re-enter the well,” said the spokesperson.

Upstream understands the rig is now is off Namibia en route to the Ivory Coast where it may work for Lukoil.

The spokesperson denied suggestions Total — which is evolving a new exploration strategy — wants to pull out of Block 11B/12B.""
andrewgoodman
Posts: 15
Off Topic
Opinion:Hold
Price:0.73
slightly confused
Fri 23:18
Thank you guys. Slightly humbled by your insightful responses. I am no longer concerned by a negative sales outcome on the day. Unless it is hitting the 10's of millions. Looking forward to good news and good fortunes around Feb 2015.
GLA
eegbvi
Posts: 524
Off Topic
Opinion:No Opinion
Price:0.73
sw28
Fri 13:39
Depends how much you're talking of but if
you can get in at 0.7p or so and sell out at
spud time probably 1.5p - 2p with luck you
would have 100% profit. After spud if they
hit gas its possibly 3p or so and oil 6.5-8p
but if its another duster I suspect you'll be
lucky to get 0.5p. Need a crystal ball ??
Your choice and DYOR !!
cautioussid
Posts: 12,640
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:0.73
sw28
Fri 11:58
its a difficult decision as the share price continues to drop more, although currently many share prices are down
sw28
Posts: 1
Off Topic
Opinion:No Opinion
Price:0.73
Decisions Decisions
Fri 10:46
So, having got caught with my hand in the honey pot from the Namibia drill, I am sitting at a heavy loss with TRP. I am trying to make the decision of cutting my losses (is there much point at these sp levels?), sitting it out and hoping for what needs to be outstanding results from the Kenyan drill. Or to buy and potentially trade more at these levels, bringing my average down, hoping to recover on any pre-spud surge.

You would imagine a ruffle of the feathers and a little movement pre-spud (targeted for mid Dec 14 to mid Jan 15) of the Badada well. We then have a duration of approx. 70 days for drilling. Taking a moderate case scenario of spudding end of Jan 15 + 70 days = Mid April 2015. I would therefore imagine that it will be early to mid May before results of the drill are published. This at least gives a little time to accumulate at these levels.

Any ideas or thoughts welcome.

SW
eegbvi
Posts: 524
Off Topic
Opinion:No Opinion
Price:0.73
Slightly confused
Fri 09:21
It would take about 5% of shares in issue
traded in one day to really move the s/p
and as there are more than 3.5bln issued
that's an awful lot more than you're worrying
about.



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