Trp20 Mar 2026 08:00
Sammy g advfn
It looks like that Prime ministers meeting with MINMIDT and SNH is today judging by some local reporting.So a chance we get the Thali news and PEL96 close together or even in the same news release soon.
Tower did say the following in last update:
"to issue the requested extension of the First Exploration Period of Tower's Thali license for a further year to March 2027, and to approve Tower's proposed farmout of a 42.5% interest in the Thali license to Prime, though the Company is still waiting for written confirmation of this. The Prime Minister's office has separately told the Company that it is convening a meeting together with MINMIDT and SNH to bring the matter to a conclusion, and the Company expects the requisite documentation to follow soon after that meeting."
"Tower has been informed that its request for approval of the farmout to Prime of a 25% interest in PEL96 will now be expedited. The national oil company, NAMCOR, has informed the Company that its due diligence on Prime is now complete, and that is only waiting for some further documentation on Tower's local partner to complete its file. Investors will recall that the Company has already entered the First Renewal Period of PEL96."