Member Info for BondSan

Last time I checked, I think there are are a further 2 extensions possible after May 2022.

I can't fault the foresight of the CEO in the assembly of 3 highly prospective licenses many years previously. COVID aside, the issue would appear to be with Cameroon end. One quibble I'd have would be whether a merger with another small oiler with some existing production some time ago would have had TRP drilling by now.

Tullow just signed off on addition of 5000 bopd from the Jubilee and Ten fields. Unhedged I understand & Free cash flow Projected to be 300 million $ from 2022 to 2026 at 75$ a barrel. I invested here 3 yrs ago on the basis of Thali License and the anticipated prospect of Tower going from 0 to 4000 bopd ( 50% of 8000 ) in a strong oil proce environment. The South African and Namibian licenses are a bonus with huge upside but getting Thali into production is the stepping stone.

Also there is 250 million in ring-fence tax losses to use up as I understand

Thx

So that's 1050 Boepd unhedged I make it , mostly oil . Operation costs about 38 dollars a barrel I think. Some inflation to be expected but anyone wanna take a stab at net profit per barrel with oil at say 100$ ?

Don't know this share particularly well, obviously there is the website but can anyone elaborate on the likely profits for next year what with the 2000 bopd & the recent oil price environment- what portion of production is hedged if any and at what price?

I gather IGAS has debt of circa 12 million which a few have mentioned is expected to be rapidly reducing .

The Shale and Geothermal is a nice bonus but it's the existing production that interests me , thx

Njom well at 8000 boepd and 64$ Brent price was Projected to be

180 mill in Gross Revenues , 146 million in Gross Cash flow, and 98 Million Net .....to Contractor for 2023 .

Anyone want to calculate at say 80$ and 100$ ?

"I don't know why New Age are trying to attract a partner to help out with the cost of seismic - they made around $850 million a few years back selling one of their other assets.Tight fisted or what!"True....what's that all about? Never mind seismic, They could drill a deepwater well or 3 with that kinda money. Maybe they'd be interested in the deeper prospects in Thali Cameroon

The Venus well is being eagerly watched as it is so huge. An S shaped structure of about 50km x 10km wide. Its less about the proximity of Towers Namibian blocks and more about the depth. Total are looking for oil at great depth in the Aptian carbonate geological layer which Repsol and Tower failed to reach some years ago. While not a direct analogy , there were some oil seeps recorded over Towers Namibia block back in 2010. Most of the seeps were recorded in the South around the Kudu area where Shell and Total are drilling and also halfway aup the Coast. Galp are also in the Kudu area adjacent block to Total. As someone said on Advfn board, Tower have managed to hang onto their early mover status in Namibia and retain the license through a major bear market for junior oil stocks so hopefully it pays off .

Cameroon economics surely much better at 90 $ oil than 40 . Going from 0 to 8000 bopd in the event of a successful appraisal well would be quite the result. Even if they got 4000 bopd net would be quite a step change.

Also if I might offer a view on number of shares, I think there may be possibility of a 1 for 10 consolidation within a Yr or 2 to bring number of shares to about 270 million from present 2.7 billion . Would like to see this done from the 1.5 to 2p area ideally rather than sub 1p , giving 15 to 20p. Been following Tower since early attempt at Namibia but wasnt invested at the time.

AT 23% or 50 million bbls recoverable to RKH in a success case (rated 23% COS currently ) that's 9000 boepd for 15 yrs to RKH so Not to be dismissed. They acquired it from Mediterranean Oil and Gas I believe and have had it in the portfolio for yrs. No mention of it yest though..

RKH have 23% of circa 200 to 250 million bbls resource with ENI as operator. Considered one of the largest most prospective undrilled fields in Europe and on trend with largest onshore hub in Europe : the Val dAgri complex operated by Shell. Currently in abeyance due to Italian drilling restrictions but imo. possibly a factor in negotiations or settlement of Obrina Mare.

Had the opportunity to buy 50 or 100,000 of these when they were in survival mode years ago round the time that Swedish Investor bought and sold...3 to 6 p I seem to remember ...kicking myself now...how far do people think this can run ?

* years ago

Big oil Mergers happening. BHP Woodside worth 44 Billion $ , Santos & Oil Search ( who were interested in Kurdistan yesterday ago ). Harbour and Neptune speculation worth potentially 10 Bn .

That's a big trade 555k shares. 1,050,000 pounds worth. A buy ?

RKH have 23% of Monte Grosso in Italy with ENi , one of the largest undrilled onshore prospects in Europe apparently. 250 million barrels resource estimate which would be about 60 million bbls to RKH . I Wonder is it an influencing factor in any negotiations that may be occuring...

The projected 4000 bopd is from Njonji which is the shallow appraisal target in the southern portion of the license. 80% cos is about as good as it gets. no such thing as 100% Cos as has to be a discount for the occasional operational mechanical issue with the drill bit. There is estimated collective upside of 100 million barrels of follow on prospectivity in the northern area of Thali immediately south of Perencos field. And there are several further leads and prospects at depth on Thali on trend with large discoveries in the region. Idenao deep etc. So perhaps Njonji creates a domino effect and funds successive drills. hopefully thats the last of the .003s and 1/2 a penny upwards is the new range. Been waiting 2 yrs for this

is Swara Tika connected to Atrush Pipeline? Isnt that Oil still being trucked? 63 million bbls to Total energie is not consequential for them at this stage id say . looks cheap at around 180 million $ but probably factoring in the likelyhood of the large Sarsang Block remaining underdeveloped and explored for some time yet. Doubt Total see value in trucking 5000 bopd for some time imo.

Thanks for the insight. Maybe a 4 bagger in waiting here too then (:"James, the first time you posted was back in April 2020 with your brand new account on the PVR board. You made 3 desperate deramping posts about the company being a scam when the sp was 1.75 (It's true, check his posts out and what happened to PVR's share price almost immediately after he opened his mouth)The SP then rocketed 480% and you've not posted again until now. If your previous yet, early performance is anything to go by then i welcome you here with open arms"

If a debt free small cap company makes 25 million profit a year then that suggests a mkt cap of 14 x 25 = 350 million ( using the ideal PE Ratio of 14 ).
Fast growing companies often valued higher around PE of 20. So it would appear that the current SP is significantly undervalued