Member Info for BigBear2

It’s just the placing overhang, the fact the bid is starting to move up would suggest this is almost done.

Well put Reggie. The immediate catalyst is the SA volumetric upgrade that should be juicy. Total had an on trend discovery that is 1 TCF. Farm in also very likely soon there.
But as you say news on Cameroon which is a drill ready 80 percent cos just on hold due to Covid - we have a 25 percent farm in there for 7 mill which is pretty much the current mkt cap
Also highly prospective average in Namibia
A hell of a lot for a chump change mkt cap....

Major volumetric upgrade due similar to what was seen at GBP.. Jeremy has confirmed they have the data as per below at end of Jan and will release to market after a short review with their partner new age...

New Age has reprocessed the existing 2D seismic data over the license during 2020, which has yielded a considerable improvement in resolution, and expects to have updated analysis and volumetrics available in January 2021, which will also be made available to potential farm-in partners. The Company will update the market further when it receives this analysis.

.44 to buy..

Tower have receipt of New ages volumetrics update and are reviewing at present so not long at all for a major upgrade on just one of the excellent assets

Looks like the penny is dropping that we have a major upgrade pending

Picked up nicely today and looks like places are done top slicing. Onwards and upwards.

Re imaging

The latest reimagine is expected to significantly enhance the previous figures.

A new base forming around 1.2. Well run company with a BOD that actually seems to be batting for investors

Being absolutely peppered they have to let this go soon

https://www.towerresources.co.uk/operations/south-africa/

Could be about to shift

And why not this is as close to a gift horse as you can get

News due on multiple fronts time to put feet up and await the price correction

The AIM is news driven I am simply pointing out with have a material update due.

Jeremy has kindly replied and has confirmed they have received details of the analysis on seismic reprocessing from New Age and are simply waiting on the formal electronic documents and also ensuring any confidentially issues are adhered to which I found quite interesting as confidentiality usually related to dealings with 3rd parties.

News can drop at any time and by the sounds of it I expect it to every bit as substantial as GBPs recent upgrade...
Mail tower yourself if you doubt what I say...

I would expect a small percent farm down for the 3D then if as expected they like what they see a further agreement. I get the feeling the minor delay is due to a potential farm out.
All that aside if you look at the assets here the market cap is plain silly.

South Africa - potentially billions of barrels there with a 1 TCF discovery on trend (wont go unnoticed by the likes of Total who made the nearby discovery) them paying for seismic would be about the same cost as their Xmas party...
Cameroon - low risk drill ready development that was viable at 40 dollar Brent which would make tower cash generative farmin agreed for 7 mill which alone is around current market cap
Namibia -drill with Total that could re-ignite Namibia as the hotspot majors want in to as they look to replenish reserves in untapped regions.
All that for 0.45p nuts, it’s no wonder the options were restricted and double the last placing price....

The placing is already done so it’s just a simple matter of when news will drop....soon by the look of it.

We are expecting an UPGRADE on this....

Further 3D seismic-led exploration is now planned, to map more accurately and unlock a number of newly defined leads on existing 2D and 3D seismic data. Of these, the five primary leads alone are estimated capable of containing a combined block-wide STOIIP of 1.4+ Billion bbls (and an upside of over 2 Billion bbls STOIIP), with a mean prospective resource potential in excess of 500 Million bbls (recoverable) and a significantly bigger upside, which the new 3D is expected to better quantify.

A farm-out process has commenced to seek a partner for a material share of the licence working interest in return for funding the 3D seismic survey planned for the most prospective parts of the licence, and this process is being managed by ENVOI Limited