RE: This takes a lot of free float at the market15 Jan 2025 18:20
Recap (Summarised perfectly by Myles):
Overall, the paper value of the combined deals attributable to Tower is $25.8m (being an implied $20.3m for its 57.5% stake in Thali; and $5.5m for its implied stake in PEL96); plus $4.4m in cash.
Total value of deal, attributable to Tower: $30.2m.
Needless to say, the farm-in partner, Prime International Oil and Gas Company, will be looking for a substantial return on its investment from this entry level valuation.