Member Info for edd12

JA loves a Friday RN. Looking V leaky here great volume.

0.3 crossed, the re-rate to levels on farmout announcement is well underway. Still a long way to go, lots of money to be made here.

The Rumour:

" Just come off the phone to JA.

Cameroon government farm out approval expected very very shortly now that TRP have the rig booked in

Also the $15 million that Prime are giving TRP to fully finance the drill is more than enough now.

Given that daily rig rates are 20% below last year and that TRP are sharing the rig with Addax the cost now is about $13 million. So TRP will have $2 million spare !"

Be a load of bull but we do know that we are due news of approval and all comms suggest the rig has been achieved with a more favourable than anticipated.

Follow the money, great day of buying.

News on the transformational farmout agreements has to be imminent.

Live Price 0.025 /

Monday Close 0.020

= 125% up :)

This is completely trivial to the LT aims here; just nice to see the re-rate begin and progress to be announced.

Everyones after a quick buck. We are still up over 20% from Mondays close.

So many news fronts will see this rise again, once presidential approval is given the next steps will come to quick for people to re-enter.

Contrary to Santiago's points about raises, if the farmouts are approved a raise will be fuitile. There is commitment of 4.3 million cash from prime with a further commitment of 15 million to working capital. Add to this the bridge loan which has been used to fund the preparation stage. There should be plenty of money in the kitty to spud and prove a commercial find.

Baring in mind our Mcap is only 7 million the potential here is massive.

Bang on roxy. Always 10-15% profit takers on AIM and rightly so.

This will come fruitful, the next news that will move this is the presidential approval, hopefully this will be achieved before the AGM at the end of the month.

DYOR

Loads of news due here for any new investors

Tower owns 57.5% of the Cameroon site after a recent farm-out deal that brought in $15 million to fund drilling, which they plan to drill in 2025. If successful, it could unlock around 30 million barrels of recoverable oil. At today’s prices, that’s potentially over $1.7 billion in gross revenue, and Tower’s cut would be nearly $1 billion over the life of the field.

One important point is that this farm-out deal is still awaiting final government approval, which is a normal part of the process in these jurisdictions.

Preperation has been underway in anticipation for approval with the drill being sorted today. Evidence of meeting with MD of Geeko (Drill management Co.) was posted on Linkedin "great to be back in Cameroon with Tower resources".

Once that’s cleared, it will free up the capital ($15 mill of working capital provided by Prime on completion of the farmouts) and allow formalised preparation, which is currently already underway thanks to the bridge loan.

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 market cap is sitting around just £7 million, which means even moderate success at Thali could double or triple the share price. That is without factoring in Namibia or SA

OP:

The conversion option on the £500,000 bridge loan is available at any time during the loan term, at the discretion of the lender (Prime Resources Ltd). If the share price rises above 0.05588p, the lender can choose to convert the loan into shares at that price or to recieve as cash.

However TRP cannot force conversion, but it can repay early if it wants to prevent equity dilution, only if the market price is below 0.05588p.

This would represent a 3% dilution but at circa 100% the price it is at today.

This cash has allowed us to progress with things like the rig and also get in contact with Rig managment companies - see JA linkedin for confirmation with meeting with Geko.

This will keep rising

With the Cameroon drill in place, Tower owns 57.5% of the cameroon site after a recent farm-out deal that brought in $15 million to fund drilling, which they plan to drill in 2025. If successful, it could unlock around 30 million barrels of recoverable oil. At today’s prices, that’s potentially over $1.7 billion in gross revenue, and Tower’s cut would be nearly $1 billion over the life of the field.

One important point is that this farm-out deal is still awaiting final government approval, which is a normal part of the process in these jurisdictions.

Once that’s cleared, it will free up the capital ($15 mill of working capital provided by Prime on completion of the farmouts) and allow formalised preparation, which is currently already underway thanks to the bridge loan.

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.

With the AGM being scheduled for the end of the month it seems promising these approvals are round the corner. Especially considering JA didnt need to schedule this in for at least another 2 months.

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 market cap is sitting around just £6 million, which means even moderate success at Thali could double or triple the share price. That is without factoring in Namibia or SA

3rd highest riser and still a cheap entry price, no where near the levels when the farmouts were announced just yet.

Allowed for another entry price for investors.

Should be entering a news rich period as we meet the conditions stated in the RN, the next 120 days could be massive here.

If the conditions are met a conservative Mcap here would be 5/6x the levels we are at here, even after a Circa 260% rise today.

Agreed for once Charlie, the Namibia license is the low hanging fruit here and is not the reason many of us are invested here.

The licence in Cameroon is the most attractive, being the most progressed and part of the Rio del Rey Basin, an extension of the prolific Niger Delta (a proven basin for commercial hydrocarbons. The doubt with this one isn't to do with geology but getting the funding and approvals over the line.

Similar with the South Africa licences, particularly the Outeniqua region are again favourable in terms of geology in respect of a commercial find.

Happy to hear your thoughts CH.

Why you here then? Its the only board you post on.

Great to see someone not fabricating, unlike both the rampers and derampers.

Nothing new has been brought to light today but allowing a cheaper entry for potential investors.

The delay and uncertainty is already built into this SP, hence the low MCAP.

JA needs to provide us with additional info on all fronts here.

The SP has fallen to what has been the bottom of the curve in the period in which we have been waiting for updates on the farmouts as well as an update on our SA asset.

Appreciate other steps cannot be finalised till presidential approval is given but some update on progress is needed here.

Nothing new was relayed in the RN.

Directors get paid through warrents not through the cash balance.

There has also been a subsequent loan taken out of 500k in addition to the circa 250k cash balance they had at year end.

Should the farmouts get approval, the cash TRP will receive and then the working capital offered will mitigate the need for a raise to be made.

Robert:

TRP focuses entirely on Africa oil, with assets in Cameroon, Namibia, and South Africa. Their flagship project is the Thali Block offshore Cameroon. Tower owns 57.5% of it after a recent farm-out deal that brought in $15 million to fund drilling, which they plan to drill in 2025. If successful, it could unlock around 30 million barrels of recoverable oil. At today’s prices, that’s potentially over $1.7 billion in gross revenue, and Tower’s cut would be nearly $1 billion over the life of the field.

One important point is that this farm-out deal is still awaiting final government approval, which is a normal part of the process in these jurisdictions. This has had some serious delays though circa 3 months, the price has maintained well and seems the low ranges from 0.23-0.25.

Although this has seen some delays, for a project of this size, it is understandable. Once that’s cleared, it will free up the capital ($15 mill of working captail provided by Prime on complition of the farmouts) and allow formalised preparation, which is currently already underway thanks to the bridge loan. JA met with Gekko (Company who specialise in managing offshore drilling projects through drlling performance, vessel management). in Cameroon). The linkedin post was made by the MD of Gekko where said "It was great being back in Cameroon this week to kick off incountry well planning for tower resources".

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 market cap is sitting around just £7 million, which means even moderate success at Thali could double or triple the share price. That is without factoring in Namibia or SA which could send it far higher but as mentioned earlier the delays and lack of communication definitely makes this a punt.

Great buying price this. Had a smal ltop up

£74k buys compared to £1k sells, I dont think you was alone in topping up.

Good volume for pushing the bid, hopefully continues building steadily