RE: JA literally had nothing positive to say ...16 Mar 2026 18:19
07/03/2025
Tower Resources Cameroon SA ("TRCSA") has already submitted the TRCSA-Prime farm-out agreement documentation and the request for a year's further extension of the First Exploration Period of the Thali license to the Cameroon Minister of Mines, Industry and Technological Development ("MINMIDT") for approval in January, and has discussed both matters with MINMIDT, the Societe Nationale des Hydrocarbures ("SNH") and the Cameroon Prime Minister. The Company's understanding is that the matter is now with the Office of the Presidency and awaiting formal Presidential approval. As with the Namibia farm-out, the Company remains confident that the approvals will be provided, and still hopes this may be around the end of March.
17/11/2025
"The government in Cameroon is getting back to work following the recent Presidential election, which resulted in a historic eighth term in office for President Paul Biya, who has already indicated his support for our Thali project, with our Managing Director in Cameroon attending his recent inauguration.
28/01/2026
"During my visit to Cameroon in November, made together with our intended partners Prime Global Energies Limited following the announcement of the Presidential election result, we were received by both the Prime Minister and the Director of Civil Cabinet at the Office of the Presidency. They confirmed our understanding, previously disclosed to investors, that the President supports our project, and the approvals will be processed when the new government is in place. Since that visit, we have been waiting for the new cabinet to be announced, so that the documents can be processed by the newly installed officials. In his New Year's speech, the President said the announcement would take place in "days", so we do expect it at any time.
16/03/2026
The Company visited both the Societe Nationale de Hydrocarbures ("SNH") and the Prime Minister during the past two weeks in Cameroon, together with Tower's partner Prime. The Company has now been informed by SNH that, following requests from the Prime Minister's office and a further site visit which took place last week, it will recommend to the Minister of Mines, Industry and Technological Development ("MINMIDT") 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.
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