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V good Rns , don’t understand the muted reaction. A poor result would have been an excuse to hammer the SP. But 6000 bopd ? Being held back for a buyer ? I added a few recently

Edd

I thought Njom was closer to 35 million barrels , didn’t they find a second flat spot below the uppermost reservoir with updated seismic interpretation a few years ago ?

https://www.towerresources.co.uk/operations/cameroon/

From link above

“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.”

Very muted reaction to a 450 meter reservoir increase….have I got it completely wrong in assuming this is 900 meters of vertical reservoir or was this a horizontal / slanted well ?

Increased depth = a contribution to increase drilling cost (obviously) . What proportion of this additional cost is down to inefficiency versus potential value addition is the question

They must have felt it was somewhat justified. I mean if you find oil deeper than prognosis and then deeper and deeper again surely that’s where the management expertise comes into play and they make a judgement call that this is worth it . They could have halted the drill at anytime but chose not to ?

“for that sort of money you could of bought another producing asset off the shelf”

I’d imagine they could drill some of the other onshore prospects in the Akatara licence for a lot less also

Who knows maybe this new find might give them options to sell Skua ? We await the flow results

Or does it mean Skua oilfield might be connected to the Swift accumulation? The drilling cost seems extremely high so can they afford to drill further at the rates quoted in the rns today to find out .

Might be more than double the resource….the volume of reservoir in an anticline increases exponentially the deeper you go rather than in a linear manner. In simplistic terms, consider the volume in a pyramid getting exponentially larger at the base rather than near the apex. They havnt given much details so I’m presuming it’s gross reservoir that is being referred to in the rns but in theory , the net reservoir should increase exponentially too. Is this an isolated anomaly or has the field replenished itself? 900 meters seems very extensive. The kind of reservoir asssociated with discoveries in Middle East . 450 meters is a heck of a bonus . Most Uk North Sea small cap oilers are lucky to have net reservoirs pay zones of 10-30 m

That’s a bit unusual, all those buys at 20.39 not moving the SP up . I added a small amount yest.

No I don’t believe it is

Njonji is only the first of many follow on wells in my opinion. The license appears to be jam packed full of leads and prospects. At shallow and deeper levels . 100 million barrels to be explored for in adjacent leads assuming Njonji appraisal phase goes to plan

99.8 to 99.9% votes for each resolution

Never seen that level of support before ….

Encouraging Results especially re. Net Debt . Also , it would appear Akatara has several other leads / prospects on the Lemang license to appraise/ develop going forward ? . The Betara oil field and Gehma gas field immediately to the south of Lemang license suggest a prospective trend moving North

No it bloody well wouldn’t be

I’ve been waiting 15 fkn years!!! for a proper valuation/ takeover , the last thing I and other original LTHs want is more dilution , complications and taking on other companies problems, and all the bloody Directors bonuses and free shares that that would no doubt entail .the only Merger that’s welcome is one with a MAJOR. That message is for the GKP Board too btw

“If I was to completely write off the arrears”

Maybe you should set up a school of Business Strategy ?

*lower rising channel

SP currently sitting on the rising 200 day Simple moving average . Price also bounced of what appears to be a lower riding channel about 10 days ago at 0.023 and using the lows of Aug - Oct 2024

Solid Director buy that . Always nice to see multiple Director buys around the same price level .

Reassuring to see several Directors buy after that annoying drop . Not particularly large but not pocket change either

I’ve sold at 3.7p, took a 25% loss but only had a tiny shareholding. I’ll await clarification of the Rns via testing and if it means buying back higher so be it . I do think there is a lot of potential on the license and the possibility of oil prospectivity in other areas intrigues me . But as I said , I have difficulty interpreting Gas exploration RNS’s .Ill remain an Interested observer . GL to the believers

I expect the CEO would like to consolidate and reduce these shares from 29 Billion to 290 million , however as I posted here some time ago the Nominal Share price needs to be much higher - somewhere like 0.1 to 0.2 Pence . Let’s say 0.1 p for arguments sake which is about 4.5 times current Share price , implying a market cap of about 25 -30 million pounds . This mkt cap seems about right to me if / when

1. the cash from Cameroon farm in lands

2. Drill rig and drill date confirmed

3. Possible large injection of cash from a successful Algoa Gamtoos Farm in

In that hypothetical/ potential scenario, a share price of 0.1 pence becomes 10 pence in a 1 for 100 share consolidation. I’m sure we all agree 10p and 290 million shares would present a vastly improved outlook for sustained share price gains assuming the Njom 3 drill is in accordance with expectations ( finds oil & flows )

But the Share Price needs another big leg up first

All in my humble opinion. No investment advice intended to purchase TRP shares .

Some quality posts today thx . I have difficulty understanding gas prospects versus oil which is a bit more straightforward in terms of potential volumetrics and 3 dimensional structures etc .still quite a Bit early for results I think. V interesting about the old refinery