Beluga- all over again6 May 2026 11:24
Business in Cameroon reported in November 2021 that Cameroonian authorities had still not approved the farm-out deal signed with energy commodity trader Beluga Energy on the Thali Block, under which Tower Resources would cede 49% of its stakes to the commodity trader. The deal had been signed in August 2021 and, a month later, the parties officially requested Cameroonian authorities' approval in compliance with the petroleum code, which requires the Ministry of Mines to approve the deal within sixty days of submission. However, Tower Resources claimed it had not received any formal notification or additional information request from the Ministry even though it had fulfilled the required conditions. (Business in Cameroon)
The Beluga deal ultimately collapsed, and Tower turned to new farm-out candidates.