Member Info for Dicko80

The presentation shows Pow and locked up shareholders, totalling c54%, so 46% of 105m c48m available

Directors hold 1.9%

And theyll be a number in the free float that wont be looking to trade

So all in all , it really is a very small amount of stock available with healthy volumes like yesterday probably trading 25% of stock available

Looks compelling

https://ibb.co/ZRpTmPgj

FDR also ref Rio Tintos Winu project to the east

RT divested 30% of the project in May for $430m, which means 100% would be worth $1.43bn

https.discoveryalert.com.au/news/sumitomo-rio-tinto-winu-partnership-2025/

FDR c£10m mkt cap

NT to buy @ 9.5p

When you look at the bullseye target for this drill, which will probably commence this week

It is haverions double

https://youtu.be/fkL9oOWIca4?si=VAvQomBj9TESRjs5

FDR potential bigger

FDR eastern Bullseye target 100 Nt magnetic anolomy

2.5 km x 2.5km

Haverion target was 80-100NT magnetic anolomy

1.5km x 1km

8.4m oz

Sorry pressed send

12.40secs

Head upto 0.0818p

Which would give mkt cap c£24mmkt cap

https://x.com/thesaintcharts/status/1959598608681939430?s=46

£24m mkt cap = just the deal values for farmout on Cameroon and Namibia

Cameroon

$15m / 42.5 x 100 x 57.5 net x fx 0.8 =

£16.2m

Namibia

$2.5m / 25 x 100 x (60%net) x Fx 0.8 =

£4.8m

Total £21m

Cash from farm outs

$4,375,000 x fx 0.8

£3.5m

£24.5m

Just for deal values no value for any oil within our licences

SA we hope will also be farmed out but we don’t know details of potential numbers , I think $15 - 20m for 50%

$5-7m for 3D

$10-13m back costs

I will go with $20m (7 + 13m)but not add any value for a major and what that may add to the sp

$7 / 50 x 100 x 25%

$3.5 fox 0.8

£2.8m

Plus cash

$13m x 50% x fx 0.8

£5.2

Total £8m

That would take us to

£24.5 + £8

£32.5m

Deal values

Then focus shifts to the drilling

35mmbbls x 57.5% x $3per bbl in the ground

$60.37m x Fx 0.8

£48m

Running total

£32.5 +£48

£80.5m

This based on just $3 per bbl , on a success case and once flowed , you could argue $6 per bbl is fair

We know discussions are ongoing with the banks to get into production and the company have or are taking on additional resource to deal with that so on bank financing $6per bbl into play

£128 m

Company believes thali NPV is over $13per bbl

And also nothing in for any oil which we know there is 111mmbbls low risk follow on in Cameroon, 600mmboe + in the deeper targets

Multi billion bbls in Namibia and SA

So we then hopefully get bank financing and drill 3 further wells

Plan is to have 4 wells into production

looking at 8,000bopd gross ph1

16,000 bopd gross ph2 when we can utilise the cost recovery pool to drill the deeper potential reser

12.40secs

Head upto 0.0818p

Which would give mkt cap c£24mmkt cap

https://x.com/thesaintcharts/status/1959598608681939430?s=46

£24m mkt cap = just the deal values for farmout on Cameroon and Namibia

Mkt cap £8.65m

Current valuation

Cameroon

$15m / 42.5 x 100 x 57.5 net x fx 0.8 =

£16.2m

Namibia

$2.5m / 25 x 100 x (60%net) x Fx 0.8 =

£4.8m

Total £21m

Cash from farm outs

$4,375,000 x fx 0.8

£3.5m

£24.5m

Just for deal values no value for any oil within our licences

SA we hope will also be farmed out but we don’t know details of potential numbers , I think $15 - 20m for 50%

$5-7m for 3D

$10-13m back costs

I will go with $20m (7 + 13m)but not add any value for a major and what that may add to the sp

$7 / 50 x 100 x 25%

$3.5 fox 0.8

£2.8m

Plus cash

$13m x 50% x fx 0.8

£5.2

Total £8m

That would take us to

£24.5 + £8

£32.5m

Deal values

Then focus shifts to the drilling

35mmbbls x 57.5% x $3per bbl in the ground

$60.37m x Fx 0.8

£48m

Running total

£32.5 +£48

£80.5m

This based on just $3 per bbl , on a success case and once flowed , you could argue $6 per bbl is fair

We know discussions are ongoing with the banks to get into production and the company have or are taking on additional resource to deal with that so on bank financing $6per bbl into play

£128 m

So around 1bags from current levels in 6-12 months

Company believes thali NPV is over $13per bbl

And also nothing in for any oil which we know there is 111mmbbls low risk follow on in Cameroon, 600mmboe + in the deeper targets

Multi billion bbls in Namibia and SA

So we then hopefully get bank financing and drill 3 further wells

Plan is to have 4 wells into production

looking at 8,000bopd gross ph1

16,000 bopd gross ph2 when we can utilise the cost recovery pool to drill the deeper potential reservoirs

Yes prime farmout = money in bank and also fianced to drill the well ...

that was before the announcement of rig award, which confirmed better commercial terms for the rig

Also worth noting that bank discussions have been ongoing for some time, the original plan was fiancing from a bank for a 4 well development after 1st well, all wells from the same drill pad, drills deviated away in differwnt directions , the company want to confirm and book reserves from the first well, which will open up RBL (reserve base lending) with ph1 production expected to be 8kbopd, then we got the potential production from 1 well update

So news on this in due course

Shouldnt require a raise as Confirmation of farm out deals , $4.5m cash in bank

Bridge loans was the interim cash we needed until money comes infrom farm out, which was @100% premium to sp at the time

Change in rig status

Anchored to underway

https://ibb.co/FLMtfK6D

Ok so this 2nd hole was expected to find the ore zone closer to surface but there has been afew updates at different depths where they thought they were just above the zone

The recent interview regarding silver results, confirmed they were 2000m+ and again just the above the target zone

There was talk about understanding the geology after hole 1, and they confirmed at hole 2 they had intersected to date as predicted but since then the target zone was expected 1700m or so and now still to find it at 2000m+ so i think they need to undetstand it more

I think At this depth the grades need to be v high grade to be econimically viable

Interesting to see how this plays out

After the last well i think the market wants to see confirmation of flow

Then we should see the re rate

This afternoon a deck cargo ship has moved from its moored positikn and positioned itself close to 510 rig

https://ibb.co/p6TM92G8

https://ibb.co/yn3HYFNv

https://ibb.co/tpg4fpHC

https://ibb.co/4Rkgkrys

https://ibb.co/wNJxD2FD

Tug boat moved next to rig

https://www.marinetraffic.com/en/ais/home/centerx:50.671/centery:26.180/zoom:15

Looks like sellers out

Will have pay more get back in

Https://www.linkedin.com/posts/farmoutangel_we-are-pleased-to-announce-that-tower-resources-activity-7361006994595442688-Rt3V?utm_source=social_share_send&utm_medium=android_app&rcm=ACoAAF1mL4IBEbw4EYmwj6pPI5YV1dCydKxgiMQ&utm_campaign=copy_link

Theres been a period of no activity , so it appears to me they are expecting confirmation of prime farm out and if you remember we agreed to an extra 5% from the local partner so was to be able to farm down to major

If we get a major on board to drive namibia , thats massive

Multi billion bbl propsects

Hmmmm looks they ramping up namibia activities

Duncan our technical guy did a farmout pitch yesterdayin Dubai

https://www.linkedin.com/posts/farmout-finance-forum_farmout-finance-forum-ran-at-africa-oil-week-activity-6864999365233168384-PNWU?utm_source=social_share_send&utm_medium=android_app&rcm=ACoAAF1mL4IBEbw4EYmwj6pPI5YV1dCydKxgiMQ&utm_campaign=copy_link

I heard TRP were doing a farmout pitch to majors at AOW next month for namibia

He confirmed

Just checked

Got an emailfrom JA in early hours

Hmmm wonder why he was up working so late, that needing completing that couldnt wait till today