Member Info for Dicko80

Seems i missed abit of scaremongering on Friday

Discussion around monies raised over the years and limited or no progress , I would agree with until last year progress was non apparent but last year was

we had updated Resources and NPV for Cameroon on the back of reprocessed 3D , increase in 2P and increase in NPV millions of $

the update we had ref Namibia , basin modelling results were highly exciting with clear understanding of the basin , migration pathways, DHIs,gas chimneys , oil seeps all highlighting hydrocarbon system in the basin

Although no value has been seen in the mkt valuation we await news to add significant value

Cameroon

Rig contract

Farmout x1

Farmout x 2

Resource potential of the deep reservoirs

Namibia

Updated volumetrics of structures and leads

Farmout

£2.5m mkt cap

I breve 2024to be the transformational year for TRP and could well be the multi bag share of the year

0.12p is only core NAV

Mucher higher valuation as the report states

7 December 2023

Tower Resources plc

("Tower" or the "Company")

SP Angel Analyst Research Report

Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN), the AIM-listed oil and gas company focused on Africa, announces that its broker, SP Angel, has released a research report on the Company and its RIG READY status at the Njonji project. The report is available to view under the Research Reports tab on the Company's website at https://www.towerresources.co.uk/investor-relations/downloads/

STRONG BUY

Ladies and gentlemen

Start your engines 🚀

Sorry to hear that lsetown,

Timing buying in these micro stocks is always difficult to predict the right time

historically there has only been Cameroon being advanced enough to bring forward but please refer to my previously posts investment case 1,2 & 3 why I think all three assets are being advanced so over the next 2 years we will see significant growth in the mkt cap

Cameroon multi well and into production , ramped up to 16kbopd

Namibia updated prospective resource potential will lead to farm out and 1 well commitment, larger structures over billion bbl plus potential , assuming we keep 25% net could be 250mmbbls net so buying in now for this event will re rate to price in the farm out and start to price in some of the size of the prize , as Cameroon $8 per bbl that would equate to $1000m mkt cap potential from today's £2.5m mkt cap, that's just one structure we have many offshore Namibia

Similar for SA - same as Namibia

So yiu can see the potential for the next 2 years from £2.5m mkt cap

Is truly staggering

Their initial valuation is ultra Conservative

15mmbbls x 68% interest x $8 per bbl x 40% risked

$32.64m / £26m

It's an appraisal well so 40% risked is very high, the drill has 90% COS

15mmbbls x 68% interest x $8 per bbl x 90%

$73.4m / £59m

£59m - 26m =

Difference from current £2.5m mkt cap is additional £33m ..

Mkt cap £2.5m

This is for just 15mmbbls , trp have billions bbls potential

Buy and put away for a few years ..

Not old wind James, I posted rig contract was coming maybe not tomorrow but is coming

Then a day later sp angel issues coverage on TRP

"Cameroon ready for rig"

Funny old world

She's on its way...

May not be tomorrow ...

But she's on her way ...

Patience

STRONG BUY

There's multiple well campaigns offshore Namibia

It's stirred a lot of interest

Once rig announced the others will follow quickly

Farmout 1 was pretty much done in Oct

Farmiut 2 a bit more work required

Licence pending rig contract

7mins 50 onwards

https://youtu.be/tCckFVp8dbI?si=b-3WF3sXu7GTgIe8

Yes a minimum 4 RNS before Christmas

Rig

License

Farmout x 1

Farmout x 2

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 ifrntified further reservoirs so the 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 to 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 100 million 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.

Some of us haven't finished accumulating stock

That video was released at 2pmish, we were already around. 031/.032p and wasn't known till towards 4pm so the rise want to do with the video

We have discussed the potential upside on this BB over the last few weeks and today's rise is nothing compared to where thesp will goon concrete news

TRP have great assets mutil billion bbl potential in Naimbia,SA & Cameroon

Immediate news is camerron, here the video from last month

https://youtu.be/tCckFVp8dbI?si=Tjn6Jt1RhhTPNocP

RNS due anyday

Rig contract

2x farm in

Which will be transformational for TRP

We were £2.5mmkt cap , potentially 3billion +bbls net across all assets

Cameroon -

Appraisal drill high COS, targeting 16,000 BOPD.

first production from Njonji estimated at just 6 months thereafter

phase 1 @ 8k bopd

8000bopd x 365 days x $90= $262.8million gross per annum

phase 2

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

16000 x 365 days x $90

= $525.6 million gross per annum

TRP mkt cap just £3m

The sp potential hassomeway to go

June 2022

"The Company has also updated its estimate of the NPV10 of the base volumes in the 24.9 million barrel pMean recoverable case, to $305 million, as set out in the linked presentation at page 11."

April 2023

"Updated resource estimates and risks for the reservoirs connected to the NJOM-1 and the NJOM-2 discovery wells, substantially lowering risk attributed to PS9 Sup and PS3 HW reservoirs, and increasing total risked pMean prospective resources to 35.4 million bbls."

$305/24.9*35.4 =

$433.61m NPV10 (On a pro rata basis)

technical overview

https://www.youtube.com/watch?v=6ZJ7Nh1_oj8&t=4s

https://www.towerresources.co.uk/wp-content/uploads/2022/10/Duncan_Rushworth_Tower-Resources_Thali_AOW_2022-v3.pdf

Njomi 3 - 90% COS according to OIL report as below

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

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

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

https://www.towerresources.co.uk/wp-content/uploads/2023/04/2023-04-24_CAM_Thali_TechnicalUpdate_Rev7b2.pdf

Ref rig contract

My Understanding was (weeks back) that there were/was 2options presumably 2 dates available hence no RNS confirming ...

Obviously only a matter of time till that's confirmed ,and as such....

weeks have passed since...

So.......

Anyday rodders anyday 🤑

Back in the.030s 👍

.031p paid

Good buying pressure 👏

Yup she looks ready to pop

Fill or kill orders only

Accumulation oe as you won't be able to buy in volume when news drops

Thanks affc21 and well done 👏

Upto 85m at min James

2024 transformational year for TRP

All 3 assets in play

Multi multi bagger