Member Info for edd12

Just to follow up on my point of why it was a good deal if cash is needed to further planning work:

Bridge Loan convert at £0.0005588 so for £250,000 ÷ 0.0005588 = 447,387,258 new shares, dilution = 447,387,258 ÷ (29,044,691,475 + 447,387,258) = 1.52% dillution in share cap

To compare this to a share raise:

If we did a raise at 0.02p it would result in 1,250,000,000 new shares or a 4% dilution

If we did a raise at 0.03p it would result in 833,333,333 new shares or a 3% dilution

I beleive you are correct though CMG that a share dilution now would be against the covenants of the bridge loan

The bridge loan was the counteract the need for dilution through share raises.

Although the bridge loan is convertible once the price reaches high 0.005s it is a lot cheaper and better for the shareholders than the type of dilution you are talking about.

We had a blue day the day the bridge loan was announced. which was only early last week where we received 250k...

Always good to see Charlie Harper here (although his posts have been deleted now) with his usual waffle.

His deramping always seems to coincide with the share price increasing.

Funny how the bid is dropped off so little sell volume.

MMs defo trying to catch a few out with stop losses

I had another top up for the 5.1m this morning. Wish i had some more free cash left in the kitty for a bigger top up but the MMs have allowed another cheap entry point here.

If it is the news we are awaiting, id much prefer a 7am RN than an intraday.

A morning RN allows the hype to build more.

Not that id complain, this RN is very much overdue now

Cameroon is the asset most progressed and on its own theres a lot to get excited about, with just that field having the capicity to even 10x the share price.

Itd be great to get an update on SA and Namibia as well. Particularly the Namibia licence, getting a CPR organised and paid for allowing us to put figures against our field there would be massive here and the results could see us multibag again.

I think patrica

A previously posted NPV calc for the Njom 3 site:

Recoverable oil is estimated to be around 17.6 million barrels, based on an independent engineering report by Oilfield International Ltd.

If we assumed oil price per barrel ranged from a conservative $60 up to $85.

Profit per barrel after costs varies but if we estimated this to be between $30 and $50 depending on the oil price.

Tower Resources farmed out 50% of its interest in the Cameroon license to prime, which will be complete on presidential approval.

The Cameroon government usually has a right to take 25% of the whole license once development starts. This means our share and prime's share will be reduced to 75% of the total licence.

So after the farmout and government back-in, Tower’s effective share is about 37.5%.

Based on these assumptions, our share of the undiscounted profit could range from approximately $198 million (at $60 oil) to $330 million (at $85 oil).

Applying an avg discount, the NPV range is roughly $130 million to $215 million across the life of the field.

Based on the more conservative estimate the Njom-3 would provide net profit of over 13x our current Mcap.

In addition to this we are set to receive $4.2 million in cash on completion of farmouts as well as $15 mill working cap to pay for drill costs.

JA also holds the highest proportion of shares in issue he ever has, totalling to 7,357,739,463 shares, around 25% of shares in issue.

Hopefully after a long wait we are almost at the stage where we could see a spud in the not so distant future.

Any buy at this price is a great opportunity to get into this share.

The risk is already built into the price here, once we are derisked with extension of our licence in Cameroon and confirmation of our Farmouts our Mcap will be significantly higher.

Just looking at the potential NPV of our field in Cameroon the Mcap could easily be 5x the levels we are now.

What have u seen that makes you think this? The vessel tracking application i use show it hasnt moved.

I have had a another top up this morning, great price to increase my holding.

Very confident we can still get this over the line within the expected timeline.

This is a very exciting punt, very likely to multibag when the right news drops.

My portfolio tracker is showing a 215m buys at 12.05 not currently being reported.

Someone must be confident, looks to be what pushed us back up to 0.034

Spread has been tiny today too, avg'ed about 0.001 when usually we are about 0.002.

MM's are looking for sales.

Some nice volume into close. Looking good for a strong week even with no news

10 bagger is easily on the cards here.

A previous NPV calc for the Njom 3 site:

Recoverable oil is estimated to be around 17.6 million barrels, based on an independent engineering report by Oilfield International Ltd.

If we assumed oil price per barrel ranged from a conservative $60 up to $85.

Profit per barrel after costs varies but if we estimated this to be between $30 and $50 depending on the oil price.

Tower Resources farmed out 50% of its interest in the Cameroon license to prime, which will be complete on presidential approval.

The Cameroon government usually has a right to take 25% of the whole license once development starts. This means our share and prime's share will be reduced to 75% of the total licence.

So after the farmout and government back-in, Tower’s effective share is about 37.5%.

Based on these assumptions, our share of the undiscounted profit could range from approximately $198 million (at $60 oil) to $330 million (at $85 oil).

Applying an avg discount, the NPV range is roughly $130 million to $215 million across the life of the field.

Based on the more conservative estimate the Njom-3 would provide net profit of over 13x our current Mcap.

In addition to this we are set to receive $4.2 million in cash on completion of farmouts as well as $15 mill working cap to pay for drill costs.

With the drill being confirmed, drill management teams being selected (see Gekko's MD previous post on linkedin in Cameroon with JA). It looks like everything is being primed and ready for Q4 drilling.

It is also great that JA has moved away from raising funds through dilution of shareholders with the use of the bridging loan. This loan will eventually be convertible to shares once the SP reaches 0.055. Which is C.100% of todays levels.

I think that it definitely helps JA holds the highest proportion of shares in issue he ever has, totalling to 7,357,739,463 shares, around 25% of shares in issue.

In addition all key personnel are paid in warrants rather than salaries, showing the confidence here.

Beyond Cameroon, Trp also holds a majority stake in PEL 96 in Namibia, a high-upside exploration block in an area where majors like Shell and Total have been making significant discoveries. That farm-out too is pending regulatory sign-off.

As well we are also due an update on our asset in South Africa which is held under our Algoa-Gamtoos license, located right near Total’s massive Brulpadda and Luiperd finds. That’s more of a long-term asset, but the proximity to big players adds credibility.

The potential at just our Njom-3 asset is exponential but if you add in our other assets there is lots of news due which could move us up significantly.

I thought the initial bridge loan was a great way of raising finance that benefited all shareholders. Great to see an extension of this facility rather than through a raise.

Should the share price reach the 0.055 this loan would only result in a circa 5% dilution at nearly 100% of the current trading price.

Additional planning procedures only strengthens our case for presidential approval but an operational update from JA is definitely needed for our all our assets either way.

Please provide some details on what nice bits were mentioned?

Cant imagine anything of use was said that would not be market sensitive.

Are you there?

You know the share price is green CH? I thought you only appeared claiming to be a prophet when there was a red day.

What a life you live spending all your time on Boards your clearly not invested in. I still remmeber you claiming this was dropping to below 0.018. Guess you could say you was '100% wrong'.

The RN of approval will come when its comes. Strong volume days like yesterday and twice last week all come with no subsequent RN.

The beauty of it here is it'll be too late to re-enter for any of those sceptical enough to not be in here.

Even after the rise yesterday we are still at a MCap of C. 9m.

News on confirmation could move us up to a 30mil MCap and even that would look undervalued.

Volume yesterday of 1.5 bill shows how quick people that are waiting on the side are ready to come in here.

Considering JA holds 7,357,739,463 of the shares in circulation, 6% of available shares was traded just off anticipation and fomo alone. Imagine the volume once news drops.

90m delayed buy come through.

Follow the money, news has to be imminent