Tower Resources Share Chat (TRP)

Just a punt for a Monday morning RNS or something more substantial today?

best of luck

Looking interesting, here's hoping JA made a good contact or two in this weeks African Energy Summit in London....maybe News next week if he did!!!??? Gla :-)

pepsi
and yuv ticked us up aswell

Decided to get another 1m given it’s stayed in quite a tight price range to buy, this should start really picking up as we approach July Q3

irrelevant really until the bod actually put out an rns with some meat on it - seriously long overdue!

Oil & Gas / Africa

Exploration is back on the menu in Africa, with big finds and strong prices

Exploration is back, emissaries of some of the world’s top oil companies have said, with Africa in a strong position to meet new demand.

Attending the Africa Energies Summit, the room was full – with talk of an overflow suite – and a sense of optimism in the air. The double success off Namibia, at Venus and Graff, following Baleine off Cote d’Ivoire in September 2021, has demonstrated the opportunities in sub-Saharan Africa’s offshore.

Major interest

“Exploration is part of the transformation and part of the solution,” said TotalEnergies’ exploration manager for Southern Africa William Gordon Canning.

There is a need to maintain production and “high grade our portfolio, both in terms of costs and emissions”.

The French company sees two ways in which exploration can work. First, in the provision of “material high impact exploration for future high grade projects” and second opportunities near existing infrastructure.

Total plans to return to drill two appraisal wells on its Venus discovery in the third quarter. Shell aims to return in the third or fourth quarter to appraise its Graff find.

Beyond these wells, South Africa’s Orange Basin will come under increased interest. Shell and Total are working on Block 5/6/7, although seismic has proved to be hard, given some adverse court rulings.

Africa Oil and Eco Atlantic also talked up opportunities in this area. Initially, Eco will drill the Gazania-1 well, with CEO Gil Holzman saying it might spud by the end of August or early September.

Africa Oil’s Keith Hill, meanwhile, compared Block 3B/4B to Shell’s Graff play.

Total allocates around 35% of its drilling capital to mature basins, 50% to emerging basins with proven petroleum systems and 15% to frontier areas. This year, it will drill 18 wells and target 1.3 billion barrels of resource.

“Leadership in exploration is diversifying. We’re seeing leadership from companies across the globe going to explore internationally,” Ashby said, such as state-run companies.

“They might step up to fill some of the gap left by supermajors when they diversify into renewables. Indeed, some of the smaller and mid-size companies are also seeing opportunities where the big players may be cautious.”

https://www.energyvoice.com/oilandgas/africa/412727/africa-exploration-seismic-rigs/

SP is nonsense given the trading yesterday . . . . . . .

NamcorNamibia

@NamcorNamibia

As an operator, our objective is to derive geological value & generate revenue for #NAMCOR via farm-down processes in acquired blocks to prospective intl. oil companies with vast tech & financial capacity to propel explore work programmes & drill exploration wells. #GetToKnowUs

NamcorNamibia

@NamcorNamibia

We are delighted to be supporting the Africa Energies Summit, Africa’s premier global energy conference from 17th – 19th May. Visit http://africaenergiessummit.com for more information. #AfricaEnergiesSummit #FrontierEnergyNetwork

@ConnectFrontier

NamcorNamibia

@NamcorNamibia

Day 2: Our MD, Mr. Mulunga informed the Summit that the discovery of oil on 2 blocks in the Orange Basin, & the acquisition of an oil producing asset by the Namibian State oil company in neighbouring Angola has drastically changed the country's energy landscape.

@ConnectFrontier

ABOUT a month after the Namibia International Energy Conference 2022 was concluded in Windhoek, the first step to creating an African energy bank has been inked.

The establishment of an energy bank received applause at the conference and now a memorandum of understanding between the African Export-Import Bank (Afreximbank) and the African Petroleum Producers Organisation (APPO) has been signed.

The multibillion-dollar energy bank, when established, would focus on scaling up private sector investment in African oil and gas projects, provide critical financing for new and existing oil and gas projects, as well as energy development across the entire value chain.

https://www.namibian.com.na/112658/read/Ball-rolls-on-creation-of-African-energy-bank

Sorry my bad.
what can I say............Duuuuuuuhhhhhhhh

The LOI is with Shelf Drilling

'Shell'?

Fair comment.
Just out of interest they always take the best intraday price and always trade at the mid price......buy or sell.
A good bit of fun though although please no newbies take them seriously.
If you listen to Asher's presentations it's all about Cameroon and although there are other potential targets in Namibia and SA he always says he doesn't want to talk about it but will answer questions so that about sums it up.
Towers failures have all been exploration and now Asher's CEO he quite rightly wants to go for production.
Didn't like the terms of the LOI being confidential but I don't like Shell. Of all the majors why did it have to be them.
Incidentally, Envoi also have our SA JV partners on their client list........good luck to them with that one after the Beluga fiasco.
I guess at least Shell are loaded and this is just small change to them. What are the terms going to be........not favourable but the alternative is game over.

It’s info that’s all.
Absolutely no chance should this be an investment pointer.
There are several very good reasons to invest here … the first three most likely to happen being Cameroon,SA,Namibia.

It’s interesting from my point of view to see if BBulls take is correct though. Interest only .

Rktech correct

Lol, well you've just posted on it instead of creating a new one, as I did, no relevance and I certainly wouldn't base any investment decision on any data from British Bulls who normally advise after the event...my investment decision here is on the undoubted Transformational upside if JA gets the Cameroon drill sorted as well as the very high chance of a JV for Namibia and or SA, given the multi-billion barrel potential of the multiple features, Structures and traps with the same source rocks and geology as the world class discoveries at Venus and Graff. Tower's lowly bargain basement sp and market cap offers a rare opportunity for substantial UPSIDE on multiple fronts. Gl :-)

A lot of you guys are seasoned investors and you have a thread title about british bulls.........are you serious or is it some kind of " subtle ramp ".
In any case, anyone basing their investment decisions on british bulls should not be investing in the first place.

the third quarter is only 6 weeks away!!!

All bodes well for a successful conclusion imho, and the third quarter is on 6 weeks away. Gla ;-)

Afreximbank who have signed the multi-billion dollar MoU, "aimed at scaling up private sector investment in African oil and gas projects, the bank will provide critical financing for new and existing oil and gas projects", has its headquarters in Cameroon, and so quite conceiveably could be one of the banks JA is talking to. Gla ;-)

The Company intends to work with the banks with whom it presently has discussions, and with Beluga and other interested parties, to restructure the well financing over the next few months, with the objective of concluding a revised transaction in the third quarter of 2022, that is less dilutive to Tower shareholders than the present farmout structure. The Company does not intend to comment further on these discussions until they are completed.

Next steps will include the finalisation of the well financing and the rig contract and other service contracts in the third quarter of 2022, by which time a narrower range for the planned mobilisation of the rig will also be announced.

Not necessarily, could be the bank JA is in discussions. Gl ;-)

Business in Cameroon) - On September 22, 2021, the African Export-Import Bank (Afreximbank) opened the doors of its new Yaounde office to the media as a prelude to the official inauguration coming up on September 24.

The office, which will serve the Central Africa region, is temporarily located at the headquarters of the national social security fund CNPS. "The new office covers Cameroon, the Central African Republic, Chad, Congo, the Democratic Republic of Congo, Equatorial Guinea, and Gabon. The creation of an Afreximbank regional office for Central Africa is in line with the Bank's growing geographical coverage. The new office brings to five the number of Afreximbank regional offices across Africa," the Bank indicates.

The headquarters agreement of this new office was signed in Yaounde, on December 13, 2019, by Lejeune Mbella, Cameroonian Minister of External Relations, and Okey Oramah, CEO of Afreximbank.

In the medium term, the Central Africa Regional Office is expected to strengthen the financial services sector by improving and expanding the region's access to affordable and competitive financing and advisory services for a range of local banks, exporters, importers, and domestic investors.

" Afreximbank intends to open over $500 million of consumer and refinancing lines to banks over the next five years. With the new office, we plan to quintuple the bank's interventions in the Central African sub-region to $5 billion [XAF2,799.8 billion] in the next three years. The bank will increase the number of institutions that will benefit from credit facilities in the region. Currently, four banks have benefited from our credit facilities. We plan to increase it to 15 banks in the next two years," said René Awambeng, head of client relations for Afreximbank.

HOGWASH No relevance whatsoever!

JOHANNESBURG, South Africa, May 17, 2022/APO Group/ -- Pan-African multilateral trade finance institution, the African Export-Import Bank (Afreximbank), has signed a Memorandum of Understanding (MoU) with the African Petroleum Producers Organization (APPO) for the creation of a multi-billion-dollar energy bank. Aimed at scaling up private sector investment in African oil and gas projects, the bank will provide critical financing for new and existing oil and gas projects, as well as energy developments across the entire value chain. Following international oil company divestment and the shift in global investment trends, the bank comes at a particularly critical time for Africa’s energy sector.

https://www.google.com/amp/s/uk.finance.yahoo.com/amphtml/news/african-energy-chamber-afreximbank-african-130002053.html

Enough said.