Member Info for Dicko80

Hi oiler

In ruth yes but we are dealing with African governments , they do things at their own speed
But i believe discussions have been progressing and news could drop any day

Morning harel

Depends on your appetite for risk

A lot will be waiting on the sidelines but when confirmation comes through you won't be buying @ .28p

Not many oil & gas assets are able to get their discoveries into production so quickly

The cashflow is many times the current sp and that's before you look at the 5billion potential across SA & Nambia

some info regarding our up and coming well in Cameroon

Njomi 3 - 90% COS according to OIL report

hTTps://www.towerresources.co.uk/wp-content/uploads/2020/03/Summary-Reserves-Resources-Valuation-Report-Tower-Resources-Cameroon-Assets-Effective-Date-10th-March-2020-Publication-date-12th-March-2020-Final.pdf

Njonji structure - history - the deeper of the reservoir sands which were penetrated by Total’s NJOM-1 well extend across the structure away from NJOM-1 and towards the SW, thickening in that direction.

NJOM-3 will test those sands in what is expected will be a thicker section to the North of an EW fault which is expected to be sealing at that deeper level, confirming good total volumetrics for that area mainly to the N of the fault (the 18 million bbls of pMean contingent resources in the OIL report) but also extending to the S in the upper reservoir sands.

However the NJOM-4 well, which is planned to be the second well drilled from the same location and serving the same platform, would deviate S of that fault, both to access the shallower reservoir sands for production and also to test those deeper sands S of the fault (and produce from them also, if oil-bearing).

This is the pMean 18 million bbls of prospective resources referred to in the OIL report, which shows on the diagrams on the website as an orange shape underneath the green shape showing the contingent resources already identified in the upper reservoir sands, and which should be tested (almost) for free by the NJOM-4 well.

first production from Njonji estimated at just 6 months thereafter

phase 1 @ 8k bopd

8000 x 365 days x $90 = $262,800,000 million

TRP mkt cap £7m

phase 2

production estimated to double to 16k bopd with the deeper sands

16000 x 365 days x $90 = $525,600,000 million

TRP mkt cap £7m

all further costs of exploration in the block to be recovered from the cost recovery share of that production until a full field development plan for the license is approved, which should allow us also to drill cost-recoverable exploration wells in the fault blocks in the Northern section of the license area, including the two fault blocks which appear to be analogous to the Dissoni field to the North (though not connected to it) and the two slightly deeper fault blocks to the E of those.

This is where the additional 111 million bbls of prospective resources identified in the OIL report may be found.

There are multiple “free shots” at different potential reservoirs which are not yet connected to the existing discovery wells.

TRP won the court case

Geoguip tried for more money "stand by costs" but TRP won the case

Trp just owed geoquip what was contracted and that money was already sitting in the accounts to pay Geoquip

2020 interim accounts (see page 12 of the 2020 interims)

Delay has been with Cameroon authorities nothing to do with TRP

No RNS to state any change to what was previously announced

Payment to subbies and prepayments ahead of drilling

Maintenance to Long lead items already purchased ahead of drilling

Governments around the world are taking much longer to sort official paperwork for sign off

Anyday now rodders...

8000 x $90 x 365

Me too.. adding

Wemust be a sitting duck with all that valuable well data now linked and mapped to our acerage in both Namibia and SA

We are not talking frontier wildcat plays

We are in proven Elephant country, billion + discoveries

At £7m million it's an absolute steal

With this in mind I have bought a sizeable holding here now , just a game of patience

great to see the updated info offshore SA

now we have nearby discoveries , the data from these discoveries will be so valuable to little old TRP @ £7million mkt cap

Totals large gas condensate discovery with AVO analysis has now been mapped and confirmed TRPs deepwater fan leads x2 are not only ontrend with their discovery but also exhibit AVO analysis

Interesting bit is where Totals exhibits AVO class III (gas) then deeper down dip class IIp (oil/condensate) at deeper depths, highlighting the change in gas to fluids at greater depths

TRP deepwater prospects exhibit AVO analysis observed downdip in Totals discovery below the gas suggesting the sands in tiny old TRPs deepwater prospects to be charged and oil bearing

These two large prospects are estimated to contain

A mean of 3.75 billion bbls

P10 a huge ! massive !

7.5 billion barrels OIP

TRP £7m mkt cap lols :))

hTTp://envoi.co.uk/wp-content/uploads/2022/03/P253NewAge(SouthAfrica)EnvoiUpdateMar22.pdf

my take on recent conversations

Our short term goal is get into production in Cameroon, and then build a larger substantial production business, i expect our market capital to be considerably higher at this point.

NJOM-3 is an appraisal well, the reservoirs have already been penetrated by Total’s discovery wells, Total’s main discovery well was close to the edge of the structure so NJOM-3 is intended to be better placed to penetrate the reservoir to be able to more accurately measure reserves and then test reservoir performance.

Assuming we are happy with NJOM-3, debt finance should be no problem on successful flow test, then the next well, in addition to being a production well, will also test some reservoir layers that are to connected to the original discovery wells, possibly containing a further 3-30 million bbls.

There are also other structures identified on the license which have not yet been drilled, so they are exploration opportunities, but could be quite substantial (over 100 million bbls) and provided we can get Njonji into production then we will have a window when we can drill exploration wells in those other structures and recover costs from our Njonji production.

Once we have a substantial production business in Cameroon, will then look at gas-to-power which would allow us to develop the substantial gas resources in both our own license and other blocks in the shallow offshore.

Long term – well, that depends a bit on how things go on our various licenses in the short term.

Info posted by bad gateway on ADVFN

bad gateway24 Feb '22 - 09:06 - 29394 of 29395

and it has historical interest from majors too. Maybe it will get prioritised sooner rather than later with the drill results reported above.

28 July 2020

Tower Resources plc

Namibia Update
As previously disclosed, Tower received an unsolicited approach from a Major oil company regarding its license PEL 96 in the second half of 2019. That company has told Tower that it remains interested in working on this project, but has not prioritised it during the first half of 2020, and we expect discussions to remain on the back burner in the second half of the year, or at least until the Covid-19 pandemic situation is clearer. This has not affected our own plans for the license, and we await with great interest the outcome of further work, such as Global's, and also further wells being drilled in Namibia, including Shell's well on license PEL 39 and Total's Venus well, all of which will enhance our own basin modelling and prospect evaluation.

Venus structures 600sqkm+

84net oilpay is absolutely massive

2billion + recoverable

On AOi website partner In the well , March 2021presentation, page 9 it compares venus to the marlin field offshore Brazil

150km 1.7billion recoverable

Venus 600km+

Simply huge !

Strong buy

Source Rocks Provide the Key

The Aptian source rock can be mapped on a regional grid of modern 2D seismic data that extends from the Luderitz Basin of Namibia to the Orange Basin’s southern margin in South Africa. Like many ‘magma rich’ passive margins, the crustal architecture of this margin changes as you move offshore.

This transformation is from a rifted crust which becomes more and more dominated by volcanic lava flows which were erupted as the Atlantic opened and formed an outer, high feature before turning into true oceanic crust (Figures 1 and 2). The Aptian source deposited on either side of this high has a characteristic seismic response – a soft top associated with a decrease in acoustic impedance and a hard base with a low frequency character, associated with a Type-IV AVO anomaly Eastwell et al., 2018; Davidson et al., 2018).

With confidence in the source rock much higher, each of the imminent wells, Graff and Venus, will target different reservoir/trap pairs, to clarify what play combination is effective on this margin. Graff-1 will target a Late Aptian/Albian sandy slope hybrid turbidite contourite channel system and Venus-1 will target slightly older sands, in an Aptian base of slope/fan setting. Both targets appear to have an element of stratigraphic trapping.

Drilling Success Will Flow South

Whilst these two wells will be drilled in Namibian waters, should either of the plays be successful, the acreage to the south in South Africa will become white hot with interest.

The play is predicated on the Aptian source rock extending to the south and sand equivalents of either the Graff or Venus plays are also evident on the available 2D regional grids.

hTTps://www.geoexpro.com/articles/2021/11/south-africa-poised-for-exploration-greatness

TRP

TRP with a mkt cap of £8m has multiple leads and prospects in Namibia and SA of 5billion barrels recoverable

hTTps://www.towerresources.co.uk/wp-content/uploads/2021/07/Tower-presentation-of-assets-in-Africa-July-2021.pdf

wow.... thought i was rich when i logged on !

hello and welcome to new holders

thanks for the info cuddy, on the face of it, it looks disappointed for the peakers

SK was ultra bullish end of last year ! this going back to the summer where we were told FC was end of September, then delay after delay and comments seemed to make out loads of interest, so if only Avonmouth and not Tring, plus the margins were forecasted much higher.... from memory £70-£100 not £30

only plus is that avonmouth was 100% where as tring we only had 40%

so if Avonmouth does close, we should receive

£1.5m management fee
fiance fee - dependent if we have sourced finance for partners, if so 3%, so maybe £750k

so maybe £2.25m ?

then a free carry, maybe 10% of yearly revenues

caution till we have concrete information

PNG Nickel

both licences had ran out, we were waiting on renewal of said licences

EL 1390 - Mambare
EL 1165 - WOWO

Mambare has a number of applications as well as the renewal

ML 530 - Minince licence application
LMP x3
ME X1

I'd hope if the renewal of the licence has been granted then i'd expect the other applications to be signed off at the same time ?

maybe that's asking too much ...

fingers crossed

I agree it'd frustrating

but last month we had the following update

"Funding maintenance and planning expenditure in Cameroon to maintain the long-lead items inventory ready for the commencement of drilling and testing of the NJOM-3 well, pending completion of the farm-out, and to make payments and pre-payments to contractors;"

Maintain long lead time items
Make payments and pre payments to contractors

Patience

yes its a bridge until monies come in, as we all expected money in from Financial closure for Avonmouth/Tring by now

so maybe it suggests that is not as close as we thought or told ! but other deals maybe can be completed with this funding

apparently someone on LSE - GBP board who called the discovery at Graff-1 2 weeks before it was announced , now saying Venus is bigger than Luiperd and Brulpadda prospect combined together

It makes sense for a takeover

I mean Jeremy is 63....

one last big payday sailing off into the sunset smoking a big fat Cuban

Mktcap as it stands just makes it a no brainer vs quality of the assets , that's clear especially after discovery of oil now in Namibia

A farmin in Namibia would be multiples of the sp, so why not take it all instead ?

but a major would have to play the hand now IMO , before Cameroon operations kick in,

let's face it..

*its an appraisal well*

COS 80%

Targeting 8000 bopd

Net Cash flow would be off the scale compared to current levels

8000bopd x 365days x $90 per bbl

$262.8million

Net to trp $132million before tax & costs

Current mkt cap £8m

Then 16000 bopd from further exploration if reservoirs deeper in nojnji are oil bearing

Then big upside for 100mbbls deeper plays

So I think if we get the golden RNS confirming drilling in Cameroon, mkt cap should re rate significantly and make a takeover offer less attractive to a major

Personal I want to see Cameroon happen and get into production ,upside from current levels is huge

I believe communications between all parties is constant and often so expecting this soon

AIMHO

Burwell on hold

PNG on long term care and maintenance

it only leaves peakers ...

with initial timescales slipping now nearly 5months it highlights the need for multi projects "live" for continuous newsflow and updates to push the sp to higher Highs and higher lows, this is what we needed on the back of the MOU without we slip back to previous levels

We need Burwell, peakers and PNG all in play to propel us forward

Lol was tongue in cheek comment :)

£100m for our nickel then

Good info

Stop ramping metalhead :)