Member Info for Dicko80

Yes that makes sense

9-Apr-24 09:11:01 0.02 240,326,938 Unknown* 48.07k

Looking good for tomorrow

Difficult to buy towards end of play

There’s no doubt , towers assets have been on long term care and maintenance

Timing is always key to these micro junior plays

But we are now expecting updates on all 3 assets with all 3 offering potential transformational updates for the valuation of the company

Cameroon - everything is right , timing couldn’t be better, high POO, sellers market for appraisal , extension of licence secured, rig contract secured all stacked in our favour

Namibia - massive oil discoveries have helped tower to understand the basin and migration pathways and we await the next chapter of this highly prospective area, updated volumetrics and priority leads will then lead to confirmation of several approaches to farm in to our blocks (already confirmed by SP Global interview)

https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/032524-interview-uks-tower-resources-eyes-8000-bd-of-oil-from-2025-with-cameroon-campaign

South Africa - above the ground risk now being dealt with by SA authorities who are keen to encourage in new investment , starting with total drilling 4 or 5 wells but for us eliminates the risk that has been restricting the farmout of our highly prospective licence on trend to totals large discovery

So to conclude you buy today, just as the billions of barrels of prospective resources gains traction and become live, current and not on long term care and maintenance

And this is why JA stated in his last interview ..

“2024 will be transformational for the company”

Https://youtu.be/mx5NjzGlGxo?si=rXYPIHC4YkrqMBEH

Yes link attached

They handed back the first licence areas in 2015 and took 3 years to get approval of the new blocks

The new blocks does contain some of the original licence areas, as you rightly say “cherrypicked” these blocks for many reasons, we’ll they were very well understood by the company but also due to the confirmation of a working oil-prone petroleum system (back then there was a theory that past the Walvis ridge it didn’t contain the source rock for oil to be present) in good quality turbidite and carbonate reservoirs.

The new blocks cover a very large area and are highly prospective

the presence of Albian carbonate and Upper Cretaceous and Palaeocene turbidite reservoir intervals, which has been proven by Norsk Hydro’s 1911/15-1 well, encountered oil shows in the 1911 block in the 1990s. These intervals may be found in multiple structural traps across the new licence area. These include giant (1,000 km2+) 4-way dip closured structures in the west of the licence and 4-way and 3-way fault dependent structural closures within the Dolphin Graben, which well results such as Wingat-1 indicate is likely to contain mature source rocks. Potential stratigraphic traps (associated with Cretaceous and Palaeogene basin floor turbidite systems) have also been identified within the new licences.

The giant structures in the west of the licence include two (Alpha and Gamma) which were similar in size and potential to the Delta structure to the south of block 1911, where Repsol, Tower and Arcadia drilled the unsuccessful Welwitschia well in 2014.

Significant potential has also been identified within structural closures (50 km² to 125 km²) identified and mapped across the Dolphin Graben, all of which are located directly adjacent to source kitchens. More than eight 3-way fault dependent and 4-way dip closed structural traps have been identified so far, all of which compromise of multiple stacked targets which include Palaeogene and Cretaceous turbidites (being explored for in the southern part of the basin) as well as Albian carbonates and deeper syn-rift clastics.

In addition to the structural plays outlined above, Tower anticipates that stratigraphic plays exist within Cretaceous and Palaeogene intervals in the new licence, with potential for deep-water turbidite reservoir interbedded with mature source rocks (analogous to plays being explored for by Tullow and other in the southern part of the basin). These stratigraphic plays are currently being worked on and we await update volumetrics and lead priority

Once announced expect fireworks 💥 💥📈📈🚀🚀

*Reminder*

The SP Angel research note assumes 32% farmout for $10m

If this was the case the value of njom3 on a 100% WI would be $10m / 32 x 100 =

$31.25m

TRP retain 68%

$31.25m x 68% =

$21.25m / £17m

TRP current mkt cap £3m

Some 450% upside on the value of the deal alone

https://www.towerresources.co.uk/wp-content/uploads/2023/12/TRP-2023-12-06-Initiation-Report.pdf

There after, leading up to the drill the sp should start to price in some success with it being an appraisal drill But further upside from the exploration element of the drill

35mmbbl prospect at 68%

24mmbbls net to TRP in the success case

@ $3 per bbl that’s

$72m/ £57m mkt cap

Trp £3m mkt cap

Then there is an additional 111mmbbls in other mapped leads , plus the larger deeper targets , to which no numbers in the public domain at the minute, which I’m sure will change

We also have multi billion potential offshore Namibia. & SA

We await updates on these also

All for £3m

Excellent

Great accumulation, well done sir 👏

“Would a major be interested in PEL 96? “

Several

Namibia volumetric’s and lead priority update is due

“ The flows achieved during the well test have reached the maximum allowed limits of approximately 14 thousand barrels oil equivalent per day, positioning Mopane potentially as an important commercial discovery. In the Mopane complex alone, and before drilling additional exploration and appraisal wells, hydrocarbon in-place estimates are 10 billion barrels of oil equivalent, or higher.”

Nice 👌

Https://www.upstreamonline.com/exploration/shell-hits-oil-with-latest-probe-in-namibias-prolific-orange-basin/2-1-1629538

Namibia Exploration Alert!

Shell’s latest exploration well in the Orange Basin has found hydrocarbons. An exclusive report in Upstream reports a Shell spokesperson confirming the Enigma-1X well as a discovery. Further testing is required to determine commerciality. The well is around 15 km south of Jonker. Enigma will be the fifth discovery on PEL 39 following Graff, Jonker, La Rona, and Lesedi. Shell has also drilled the unsuccessful Cullinan-1X in the north of its acreage.

Jonker is widely thought to be the largest discovery and the focus on any initial development. Graff may follow after Jonker. Elsewhere in the basin, TotalEnergies and Galp are continuing to drill and assess discoveries on their acreage (PEL 56 and PEL 83) while Chevron is expected to spud a well on PEL 90 this year. Woodside Energy holds acreage north of Chevron and Galp’s blocks and may drill its first well next year.

Sellers market for appraisal and development

https://www.linkedin.com/posts/nventures-uk_nventures-africa-round-up-q1-2024-ugcPost-7181389675020886016-WvSj

Is a sellers market

Exploration in deep water is a buyers market , mainly for majors only with deep pockets

Thali appraisal and development is attracting more and more interest

Initial dialogue showing interest, DD by potential farmee, signing of NDA, commence discussions , multiple commercial negotiations

All with multiple parties takes time

We are in a strong position to get the required finance completed in the near term ready for summer drill

GLA

Another 5m for me

GLA

Yes that’s mine 45m B&I

A lot of companies have been talking to us about the Walvis”

💥💥💥

😍😍😍

😎😎😎

🚀🚀🚀

💰💰💰

hTTps://www.towerresources.co.uk/wp-content/uploads/2023/10/Namibia-offshore-understanding-the-petroleum-system-in-the-Walvis-Basin-AEW-Oct-2023-final.pdf

1mins 48 secs

hTTps://www.youtube.com/watch?app=desktop&v=bEGhb16GnkE

its worth noting that Alpha structure could potentially be larger than Venus discovery

venus structure is 600sqkm

hTTps://www.youtube.com/watch?app=desktop&v=kgH_0mEZ7zQ

alpha 850 - 1200sqkm

slide 9

hTTps://www.towerresources.co.uk/wp-content/uploads/2023/10/Namibia-offshore-understanding-the-petroleum-system-in-the-Walvis-Basin-AEW-Oct-2023-final.pdf

"The main oil seeps that have higher repeatability are recognised adjacent to the Dolphin Graben and are located above existing prospects and along the main migration pathways verified by Tower’s recent basin modelling work"

hTTps://www.linkedin.com/posts/duncan-rushworth-44b3415_namibia-walvis-oilseeps-activity-7125770416555483136-aBDw?utm_source=share&utm_medium=member_android

Oil seep study

Clement Blaziot posts on LinkedIn

He carried out a satellite oil seep study on Galps block

hTTps://www.linkedin.com/posts/cl%C3%A9ment-blaizot-297192129_namibia-africa-namibia-activity-7046514333035429889-tdIx?utm_source=share&utm_medium=member_android

which has recently confirmed an oil discovery

hTTps://www.offshore-mag.com/regional-reports/africa/article/14303512/galp-finds-more-oil-in-namibias-orange-basin

hTTps://www.linkedin.com/posts/cl%C3%A9ment-blaizot-297192129_namibia-angola-africa-activity-7161736967372685312-WjEy?utm_source=share&utm_medium=member_android

now with him carrying out TRP oil seep study offshore Namibia,

hTTps://www.linkedin.com/posts/cl%C3%A9ment-blaizot-297192129_namibia-africa-energy-activity-7076950945380585472-s_fV?utm_source=share&utm_medium=member_android

with clear results, highlighting the oil seeps clustered right above on top of the structures in our licence area

Understanding the Active Petroleum System in the northern Walvis Basin

hTTps://www.linkedin.com/pulse/understanding-active-petroleum-system-northern-walvis-rushworth-qp7ye?utm_source=share&utm_medium=member_android&utm_campaign=share_via

Big big structures

Multi Billion bbls potential prospects

Gas chimneys

DHI's

hTTps://youtu.be/9l1RyD5Sjqo?si=Mx9-Vcn04g2QkFtT

Now oil seeps clearly clustered sat right ontop of the structures

Indicating a working hydrocarbon system

Interest is high ... as now confirmed in the public domain

Namibia is in play

TRP £2.5m mkt cap

note the traps on the flanks are NEW leads so more potential …

the licence area is highly prospective ..

and growing with more potential all the time

Once updated volumetrics and leads announced , the company will no doubt confirm discussions with a number of companies who are interested

Confirmation drilling July

Drilling on Namibia's Walvis basin to follow 3D seismic

Cameroon goes a little bit under the radar compared to some of its neighbours, but it has a very good stable government, and an excellent straightforward petroleum code," Asher said in a wide-ranging interview.

"So, we have all the advantages of one of the most prolific production basins in West Africa and we also have a very attractive, supportive stable regime."

Thali license

Tower Resources, which is also present in Namibia and South Africa, plans to drill its first appraisal well on its Thali license -- home to a historic TotalEnergies discovery -- in July or August, having contracted the Norve jack up rig. Tower holds 100% of the Thali block and recently saw its exploration license extended through February 2025

"The purpose of the NJOM-3 well is both to test the existing reservoirs that were already intersected by the original TotalEnergies discovery well, and also to test the other potential reservoirs on the structure. It is both an exploration and an appraisal well," Asher said.

The AIM-listed company is targeting 18 million barrels of recoverable contingent resources, and a further 18 million barrels of prospective resources in the south of the structure.

"The prize on this well is already substantial, and it will open the door to our then drilling three further wells [in Q4 2025]. We intend to bring all four wells into production at once, drilling all four from the same location but deviated into different parts of the structure including an extension of some of the reservoirs," Asher said.

"If all goes to plan, we could reach first oil by the end of 2025, subject to a follow-up rig being available and our getting the financing for the next phase of work in good time."

Asher said the company was using a production base case of 8,000 b/d. "That is a lot of production and a lot of cash flow immediately for the company, so would be quite transformational for us," he said.

https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/032524-interview-uks-tower-resources-eyes-8000-bd-of-oil-from-2025-with-cameroon-campaign

Just a £2.75m mkt cap with near term catalysts Cameroon & confirmation multiple interested parties In Namibia

With multi billion bbl potential

Crazy value with off the chart blue sky potential

Crazy,

Njoni structure is just 1 of many structures offshore Cameroon, the potential could be billion bbl potential

Ref Njoni - Total’s main discovery well was close to the edge of the structure, and the seismic quality wasn't great at the time

TRP have reprocessed with 3D and identified addotional reservoirs , so the forthcoming Appraisal drilling is in the optimal location to appraise the initial discovery but will also test additional reservoirs which are visible on the 3D seismic, but werent present at the edge of the Njonji structure where NJOM-1 was drilled by TOTAL

After NJOM-3, the next well, in addition to being a production well, will also test some reservoir layers that are connected to the original discovery wells, possibly containing a further 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 100million bbls) and once Njomi is in production then we will have a window when we can drill exploration wells in those other structures and recover costs from our Njonji production.

Then there are much deeper prospects which currently have no numbers on potential in the public domain but are turbidite and sandstone exploration plays are analogous to giant fields such as Alba and Zafiro which are on trend within the same basin

So the overall potential offshore Camerron is very significant

In the ground value $3per bbl

I would say $6per bbl on successful drill

$10 per bbl on successful flow test

The SP Angel research note assumes 32% farmout for $10m

If this was the case the value of njom3 on a 100% WI would be $10m / 32 x 100 =

$31.25m

TRP retain 68%

$31.25m x 68% =

$21.25m / £17m

TRP current mkt cap £3m

Some 450% upside on the value of the deal alone

https://www.towerresources.co.uk/wp-content/uploads/2023/12/TRP-2023-12-06-Initiation-Report.pdf

There after, leading up to the drill the sp should start to price in some success with it being an appraisal drill But further upside from the exploration element of the drill

35mmbbl prospect at 68%

24mmbbls net to TRP in the success case

@ $3 per bbl that’s

$72m/ £57m mkt cap

Trp £3m mkt cap

Then there is an additional 111mmbbls in other mapped leads , plus the larger deeper targets , to which no numbers in the public domain at the minute, which I’m sure will change

We also have multi billion potential offshore Namibia. & SA

We await updates on these also

All for £3m