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They have been doing the same thing since last week, take it up before close following morning little rise higher then consolidate and goes again before close. The opportunities are there when its consolidating to add. Thats if they let you. They have been filling orders whilst some sell after its been nt to sell.

A close above 0.041 will be great and then test 0.05s tomorrow. Nice steady gains with consolidation along the way. Making higher highs and higher lows.

Https://energycapitalpower.com/cameroon-oil-gas-prospects-iae-paris/#:~:text=At%20the%20helm%20of%20upstream,has%20estimated%20remaining%20reserves%20of

Golden cross incoming on daily technicals

What is a Golden Cross? A Golden Cross is a basic technical indicator that occurs in the market when a short-term moving average (50-day) of an asset rises above a long-term moving average (200-day). When traders see a Golden Cross occur, they view this chart pattern as indicative of a strong bull market.

You could be right as it mentioned int he rns "substantial upstream company with existing production"

Same pattern over the last few sessions rise in the afternoon then little run in morning consolidate and then make higher highs by end of close. If you have watched this you know they make it nt so that people panic sell when they get the next available quote. They are filling orders. Back to above 0.04s before close hopefully.

The Company and the operator, New Age Energy Algoa (Pty) Ltd ("NewAge"), have been in discussions for some time now with a potential partner for our Algoa Gamtoos license. The farm-out process, which has been underway for some time, has been seeking financing at least for the current phase of 3D seismic data acquisition over our 1.4 billion barrel deep-water slope and floor fan leads, and some repayment of back costs. This has now reached the stage where draft documents are being prepared.

Yes volume is mental we could see 1 billion by 9am

0.04 to be taken out shortly and test recent highs to 0.055. Think we should fill gap this time too with news of the partners to come anytime.

Based on the results of the Paradise attribute analysis the following update of Tower’s internal resource and risk estimates for the reservoirs connected to the NJOM-1 and the NJOM-2 discovery wells has been generated.

The latest company estimate of risked PMean recoverable resources is now 35.4 million barrels. The changes from previous internal company estimates can be summarised as follows:

Risked PMean recoverable resources in Fault Block 1 increased from 10.5 to 12.9 million bbls;

Risked PMean recoverable resources in Fault Block 2 increased from 4.1 to 4.9 million bbls;

Risked PMean recoverable resources in South Fault Block unchanged at 17.6 million bbls.

The NJOM-3 well will target the contingent resources of the Njonji 1 fault block (and the PS9 reservoir in the Southern Njonji fault block) with the aim of converting some or all of these resources into 2P reserves in the event of a successful drill stem test (DST) establishing flow rates from the reservoirs.

Strong close at days high and we see 0.04s tomorrow hopefully

Yes think we could see 0.04s soon

Consolidation done, rerate is on

Even though there are 17Billion shares not all are available at the current price to buy. Out of that 17 billion management and those in at higher levels are holding them. Some have just under 3% holdings. Hence why there is no stock available to buy at current levels. They will need to move the ask up and let buyers in.

Orders are being filled, dont fall for the drops.

Try fok, has been nt to buy. Reminds me of ppp Initial rise followed by 4 days of consolidation. Then went on a run on the 5th day. Monday will be our 5th day. Perhaps some news on the way regarding partners.

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Drilling & Completion

Tower in farm-out talks to support drilling operations offshore Cameroon

Oct. 2, 2024

Tower Resources expects to spud the NJOM-3 appraisal well offshore Cameroon in early 2025, the company said in an operations update.

Related To: Tower Resources

Courtesy Tower Resources

Tower Resources Cameroon holds a 100% interest in the shallow-water Thali production sharing contract in the Rio del Rey Basin offshore Cameroon.

Tower Resources Cameroon holds a 100% interest in the shallow-water Thali production sharing contract in the Rio del Rey Basin offshore Cameroon.

Tower Resources expects to spud the NJOM-3 appraisal well offshore Cameroon in early 2025, the company said in an operations update.

In February Cameroon’s government agreed to extend the initial exploration period of the surrounding Thali license to February 2025, due to a lack of clarity on the timing of a Borr Drilling rig that Tower had contracted.

The rig has since been deployed elsewhere, but alternative options have become available.

In addition, an unnamed upstream company has proposed supplying finance for the drilling program via a farm-in. Two other parties have conducted due diligence on the project over the past few months, and Tower also expects a proposal from at least one of these.

In parallel, Tower is in talks with various banks concerning longer-term development financing of the next three wells planned on the offshore Njonji structure, and one for short-term development.

This could help bring NJOM-3 into production earlier, while work continues on the next three wells.

Looking good, chould see 0.04s being tested shortly and then into 0.04s properly tomorrow. Nice and steady gains is what we want until news.

Just a reminded that whilst they are reviewing their proposal they have also received multiple other parties who are interested. Expect to hear some more on the other two who have done their DD. Transaction to completed asap.

We have now received a proposal for financing of NJOM-3 via a farm-out of a minority position, from a substantial upstream company with existing production. We are in discussions with this party about the details of their proposal, however we can say that, provided discussions conclude positively, this proposal should provide sufficient funds to drill the NJOM-3 well - we had received a draft proposal from another party last year, but only for a portion of the funds required. While there are multiple other parties who have expressed interest in partnering with us, there are two other parties in particular who have undertaken substantial due diligence on the project over the past few months, and we are also expecting a proposal from at least one of these companies. Our intention is to conclude a transaction as soon as possible.

Nice chunky trades showing up