Tower Resources Share News (TRP)

TRADING UPDATES: Diversified Energy offers dividend alternative

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

TRADING UPDATES: Seeing Machines revenue grows; Baron Oil strikes deal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

Tower Resources signs rig contract, announces fundraising

(Sharecast News) - Africa-focussed oil and gas company Tower Resources announced a contract with Borr Drilling on Monday to secure the Norve jack-up rig for drilling operations on the Thali licence in Cameroon.

IN BRIEF: Tower Resources to issue 317.6 million shares to placee

Tower Resources PLC - Africa-focused oil and gas company - Says that Energy Exploration Capital Partners LLC requests the issue of 317.6 million Tower Resources shares, in accordance with the investment deed announced in mid-January. Says the purchase price of 0.04p per share, which was previously prepaid by Energy Exploration Capital Partners. This is set by mutual agreement, given that the market price remains below the floor price set out in the deed. Admission of the placing shares is expected to take place on or around Monday next week.

EARNINGS: Beacon Energy and Kefi Gold & Copper losses widen

(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Friday and not separately reported by Alliance News:

UK shareholder meetings calendar - next 7 days

IN BRIEF: Pendragon Chief Operating Officer Martin Casha to resign

Pendragon PLC - Nottingham, England-based automotive retailer - Says Martin Casha will resign from his chief operating officer role after 42 years of being with the firm to become the chief executive officer of Marshall Motor Group Ltd. Marshall Motor is a car dealing company. Says he will continue as COO until November 7.

UPDATE: Jangada Mines notes Blencowe's completion of test work

(Jangada Mines issued a correction amending percentage interest in Blencowe Resources to 12% from previously stated 9.5%).

IN BRIEF: Tower Resources swings to a loss with numerous headwinds

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.

Tower Resources reports solid progress at offshore Namibia licence

(Sharecast News) - Africa-focussed oil and gas company Tower Resources updated the market on the progress of licence PEL 96 in Namibia on Friday, which includes offshore blocks 1910A, 1911, and 1912B.

Tower Resources hails basin modelling results in Namibia

(Alliance News) - Tower Resources PLC on Friday said it undertook a basin and thermal maturity study within the license PEL 96 in Namibia.

UPDATE: Tower Resources CEO stake in company falls amid placing

Tower Resources PLC - Africa-focused oil and gas company - Stake of Chair & Chief Executive Officer Jeremy Asher in company falls to 7.2% from 16%, as company placed 4.60 billion new shares, under which Asher subscribed for 100.0 million new shares. When it announced the placing on May 16, firm said it will use the funds for preparation of drilling of the Njom-3 well, including associated services payments, and as working capital.

IN BRIEF: Tower Resources CEO and chair reduces stake to 7.2% from 16%

Tower Resources PLC - Africa-focused oil and gas company - Chair and Chief Executive Jeremy Asher lowers stake to 7.2% from 16%. No further details were provided.

IN BRIEF: Tower Resources shares plunge after discounted placing

Tower Resources PLC - Africa-focused oil and gas company - Raises GBP2.3 million in a conditional placing of 4.6 million shares at a price of 0.05p each, a 56% discount to Monday's closing price in London of 0.11p. Says it will use the funds for preparation of drilling of the Njom-3 well, including associated services payments, and as working capital. "A portion of the funds raised will also be used to advance the company's other 2023 work programs in Namibia and South Africa, including the ongoing basin modelling work currently underway on the company's Namibian license PEL 96," Tower says.

AIM WINNERS & LOSERS: Rurelec jumps on Argentinian assets sale

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.