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Pin to quick picksTower Resources Share News (TRP)

Share Price Information for Tower Resources (TRP)

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Share Price: 0.019
Bid: 0.018
Ask: 0.02
Change: -0.0015 (-7.32%)
Spread: 0.002 (11.111%)
Open: 0.0205
High: 0.0205
Low: 0.019
Prev. Close: 0.0205
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IN BRIEF: Tower Resources swings to a loss with numerous headwinds

Mon, 19th Jun 2023 11:07

Tower Resources PLC - Africa-focused oil and gas company - Swings to an annual pretax loss of USD1.0 million from a profit of USD196,547 the prior year. The company posts no revenue for the year nor does it declare a dividend, both unchanged from the prior year. Tower Resources says that the war in Ukraine has deteriorated the general economic and market conditions, with the company warning that this could reach a point where it becomes impossible to raise equity finance in UK equities markets to fund exploration projects, nor debt to develop projects.

"Over the past few years, keeping costs low and flexible without losing access to our people and their skill has also been critical to survival, and we believe will continue to be critical to success in the future" says Chair and Chief Executive Jeremy Asher.

Current share price: down 3.5% at 0.042 pence in London on Monday morning

12-month change: down 85%

By Will Neill, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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24 Jan 2017 11:47

Tower Resources offloads interests in disputed Western Sahara

(ShareCast News) - Africa-focused oil and gas exploration company Tower Resources announced the completion of the sale of its wholly owned subsidiary, Comet Petroleum, to privately held oil and gas exploration company Red Rio Petroleum on Tuesday. The AIM-traded firm said Red Rio is purchasing Comet

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3 Oct 2016 07:59

Tower Resources Launches Discounted Open Offer Following Placing (ALLISS)

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8 Sep 2016 08:37

Tower Resources raises £1m in placing

(ShareCast News) - Africa-focused oil and gas exploration company Tower Resources announced on Thursday that it has successfully placed 45,919,084 new ordinary shares, and raised gross proceeds totaling £1.03m at a placing price of 2.25p per share. The AIM-traded firm said that as part of the placin

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30 Mar 2016 15:05

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7 Mar 2016 12:16

Tower Resources Eyeing Acquisitions As It Reports Narrower Loss

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16 Feb 2016 09:42

Tower Resources pulls out of SAfrica deep water project

(ShareCast News) - AIM-listed Africa-focused oil and gas explorer Tower Resources said it had pulled out of the South West Basin joint venture it had entered with New African Global Energy to focus on "a more balanced portfolio of proven and emerging basins". Tower said New African would reimburse i

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16 Feb 2016 09:07

Tower Resources Shifts Focus In South Africa To Algoa-Gamtoos

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5 Feb 2016 09:47

Tower Resources Founder Peter Blakey To Retire In April 2016

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30 Sep 2015 13:19

Tower Resources Loss Narrows As Prepares Entry To Cameroon

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16 Sep 2015 16:07

Tower Resources signs Cameroon oil and gas exploration deal

(ShareCast News) - Tower Resources has signed a seven year offshore oil and gas exploration deal with the Cameroon government. Tower Resources chief executive Graeme Thomson said the deal on the Thali exploration block "marks a shift in our risk profile from frontier to proven basins and introduces

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16 Sep 2015 07:03

Tower Resources Enters Cameroon After Signing Thali Contract

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1 Sep 2015 09:04

Tower Resources Issues Shares To Cover Services Payments (ALLISS)

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15 Jul 2015 10:31

Tower Resources raises £5.2m in share placing to finance Cameroon acquisition

(ShareCast News) - Oil and gas explorer Tower Resources has raised £5.2m via a share placing to finance the acquisition of the Thali production sharing deal in Cameroon. The London-listed group said it has raised the funds via the issue of 2.74bn shares priced at 0.19p each. In a short statement re

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