Member Info for BUYSELLREPEAT

PART 2:

COVID-19 Force Majeure and Extension to May 2022: In March 2020, soon after the above extension, Tower declared force majeure due to the COVID-19 pandemic halting operations. The pandemic made it impossible to proceed with drilling in 2020. Consequently, the President of Cameroon approved a further extension of the First Exploration Period to account for the force majeure delay. A formal arrêté by the Minister (MINMIDT) extended the license to 11 May 2022. This extension was explicitly tied to COVID-19 – the government cited the COVID restrictions and force majeure in granting the relief. Tower’s CEO thanked the Minister and President Paul Biya (as well as the Prime Minister and SNH officials) for supporting this extension. The new deadline (May 2022) effectively gave an extra year beyond the normal renewal, reflecting both the one-year COVID disruption and perhaps usage of the remaining renewal entitlement.

Extension to May 2023: Despite pandemic delays easing, Tower had not completed NJOM-3 by mid-2022 due to continued logistical and funding challenges. The company retained its two allowable renewal periods in the PSC. By 2022, it sought to utilize another extension. Tower applied to MINMIDT for a further one-year extension beyond 11 May 2023. This likely corresponded to using the second (and final) renewal period, or an additional short-term extension, to push the deadline into 2023. The rationale was to “finalise the schedule for drilling and testing of the NJOM-3 well” in H2 2023, after previous delays. The Ministry granted this extension through May 2023 (the full details of the approval were not publicly detailed, but it fell within the bounds of remaining contract renewals).

Final Extension to February 2025: As of 2023, Tower was still securing financing and a suitable rig slot. In late 2023, with the well not yet drilled, the company requested additional time. Cameroon’s Mines Minister in February 2024 confirmed an extension of the First Exploration Period until 4 Feb 2025. This approval was expressly **“in accordance with the … Petroleum Code, and with the approval of the President of the Republic”. In other words, President Biya signed off on this extension via decree, as it went beyond the normal timeline. The main obligation for Tower during this extended term remained drilling the NJOM-3 well – a critical condition for the extension. Tower noted this extra time was a condition precedent to finalizing financing for the well (they contracted a rig for 2024/25).

Government Authorities Involved: Each extension required high-level approval:

The Minister of Mines (MINMIDT) issues formal extension orders (arrêtés) for the PSC terms.

President Paul Biya’s approval was obtained for the major extensions beyond normal limits (e.g. the COVID-related extension and the Feb 2025 extension). In Cameroon, exploration authorizations and any extensions outside the standard terms are granted by Presiden

PART 1:

Tower Resources’ Thali PSC Status under Cameroon's Hydrocarbons Code

Thali Block and “Special Petroleum Zone” Status: The Thali production-sharing contract (PSC) was awarded to Tower Resources on 15 September 2015 with an initial exploration term of 3 years, indicating a standard exploration area (not a “special petroleum operations zone”). Under Cameroon’s Petroleum Code, standard exploration authorizations carry a 3-year initial period (with up to two renewals of 2 years each, for a maximum 7-year total), whereas special zones (frontier or technically challenging areas) allow a 5-year initial term (up to 9 years total with renewals). Since Thali’s initial term was 3 years, it does not appear to have been designated as a special zone. Therefore, absent special treatment, the exploration license would ordinarily expire after at most 7 years (plus any one-off extension under exceptional conditions). Article 35 of the 2019 Hydrocarbons Code permits a one-time exceptional extension to complete drilling or appraise a discovery – up to **12 months for oil projects (24 months for gas)**. Tower’s timeline has indeed required use of such exceptional measures, as detailed below.

Timeline of License Extensions for Thali Block

Initial PSC Term (2015–2018): Tower’s subsidiary was awarded 100% of the Thali PSC on 15 Sept 2015, with a 3-year initial exploration period. The primary work commitment was to drill one well (NJOM-3) within this period. As the initial expiry in 2018 approached without a well drilled, Tower sought additional time.

Extension to September 2019: Cameroonian authorities granted a 1-year extension to the first exploration period, moving the expiry to 15 September 2019. This extension (within the first exploration phase) was intended to give Tower time to mobilize a rig and commence NJOM-3. Tower had signed a rig contract and was conducting site preparation in 2019, so the Ministry of Mines, Industry and Technological Development (MINMIDT), in coordination with the national oil company (SNH), extended the deadline to accommodate the ongoing well preparations.

“Exceptional” Extension to September 2020: In late 2019, Tower still had not spudded the well, partly pending farm-out and financing. In early 2020, the government of Cameroon – with approval at the highest level – granted an exceptional one-year extension of the initial exploration period to roughly 15 September 2020. Tower explicitly noted that “the Government of Cameroon has decided to grant a further exceptional one-year extension to the initial period” as requested. This extraordinary measure was likely made under the Code’s allowance for a one-time extension to complete drilling. It required the President of the Republic’s assent, given that exploration authorizations (and exceptional extensions) are granted by Presidential decree on MINMIDT’s recommendation.

I hope you can prove your allegations.

10 years of excuses. No need to twist any facts. Even the newspapers says the same thing.

The RNS are there to prove it.

How many RNS have we had talking about TRP in discussions about farm out, about rigs and etc

We have been here before.

All those calculations will need a drill FIRST.

And for the last 10 years it has not happened.

So for now all those fantasy maths remaining just that a FANTASY

Says it all

"In a pattern that has become familiar over the last 9 years ...."

Tower applies for another licence renewal..

Wow Thanks Bluetiger this is the exact point I was making with with "Deja Vu" thread.

Thanks Hunniford.

Really appreciate the honesty.

I did some ChatGPT research and....

Most Recent Info (July 2025)

On July 10, 2025, Business in Cameroon reported that Oriole Resources’ Mbé project in Adamawa region shows gold potential estimated between 820,000 and 1.34 million ounces, based on 2024 drill results by Forge International. A definitive resource estimate is expected in Q4 2025, following completion of the Q3 drilling program. This comes alongside a CFA 2+ billion investment commitment from BCM International, granting them a 50% stake in the Mbé permit (Oriole holds 90% prior to this.

CACO - Cmg ALWAYS CHICKENS OUT

🐤🐤🐤

This thread is evidence of TRP's cycle of broken promises.

So Yes I don't need any help from you.

But I see you are scared of the debate thread.

A debate you asked for....

It will be a miracle if we get the license extended, so the whole drilling talk this year at this point sounds like BS.

It won't happen in my opinion.

And IF we get a licence extension it will probably be the last.

Cameroon want oil NOT promises.

At this point it's boring.

Just like I said. Can't give straight answers to straight questions.

Let me know when you are ready

⏰⏰⏰😴 waiting on CMG ??????

How was your little time out Baserite? 🤣🤣🤣

I had a thread of exposing the TRP games using their own RNS to show a pattern.

You and your troll buddies tried to drown it out. With nonsense information.

I started this thread to call your debate bluff.

I have asked for your topic you have or come up with anything.

For the 3RD TIME what are we supposed to be debating ??????

Like I said, You cant provide straight answers to straight questions.

This thread is designed to expose you and so far you are making it very easy

Just like I said.

You @CMG lack the ability to answer straight questions.

You are only able to throw petty insults/jibes.

For the 2ND TIME: what are we supposed to be debating?

👀👀

You waffle on endlessly and have a history of not answering questions.

When you are ready to give straight answers to straight questions let me know.

We can have the exchange on this thread for people to see who is refusing to debate.

If you look at the pattern after every Extension there is noises about rigs, farm out bla bal bla and then another extension request.

Cameroon must be sick of TRP by now. They don't believe it then anymore OR Jeremy is looking for someone to buy out the company.

He clearly can't move the company forward, he is stuck.

RNS Number : 7303Z

Tower Resources PLC

7 March 2025

Tower Resources plc

Cameroon Update

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.

*******So first things first, as things stand right out TRP does not have a licence. Secondly compare the duration of getting the licence to the first renewal which took a month, or even to the renewal during COVID that came quickly. It seems Cameroon is sick of the games*****

RNS Number : 4135C

Tower Resources PLC

08 February 2024

8 February 2024

Tower Resources plc

("Tower" or the "Company")

Extension of First Exploration Period of Thali License in Cameroon

Tower Resources plc (AIM: TRP), the AIM-listed oil and gas company focused on Africa, is pleased to announce that it has received formal notification from the Minister of Mines, Industry and Technological Development in Cameroon ("MINMIDT") of the extension of the First Exploration Period of the Thali production-sharing contract (the "PSC") to 4th February 2025, in accordance with the Company's PSC and the Cameroon Petroleum Code, and with the approval of the President of the Republic of Cameroon.

*Another Extension again****

RNS Number : 5485Z

Tower Resources PLC

16 May 2023

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.

This announcement does not constitute a prospectus or offering memorandum or an offer in respect of any securities and is not intended to provide the basis for any decision in respect of Tower Resources PLC or other evaluation of any securities of Tower Resources PLC or any other entity and should not be considered as a recommendation that any investor should subscribe for or purchase any such securities.

16 May 2023

Tower Resources plc

Placing and Subscription to raise £2.3 million

Cameroon Update

Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN)), the AIM listed oil and gas company with its focus on Africa, is pleased to announce that the Company has raised gross proceeds of £2,300,000 through a conditional placing and subscription of approximately 4,600,000,000 new ordinary shares of 0.001 pence each (the "Placing Shares") at a price of 0.05 pence per Placing Share (the "Placing Price") (the "Placing").

As part of the Placing, Jeremy Asher, Chairman and CEO, has entered into a subscription agreement to subscribe for 100,000,000 new Placing Shares in the Placing for £50,000 as further detailed below.

Cameroon Update

The Company is pleased to advise that it has this week received a letter from the Prime Minister of Cameroon advising the Company that he has given instructions to the Minister of Mines, Industry and Technological Development ("MINMIDT") requiring him to take necessary measures in order to accelerate the license extension process in response to the Company's request.

****They applied for an extension in April by may they are getting positive responses from the Prime minister no less*****