Member Info for EGTP

It could well go considerably higher that 27p in the next few sessions never mind pre spud - it’s all about the fundamentals - the fact they have officially found nothing apart expectations is irrelevant in this case

This is about to pop - get your seatbelts on !

Re-rate finally started

Loads of mileage in this stock just buy the dips and hold on to 30p maybe up to 50p pre-drill

Apologies for my absence a little birdie gave me the potential heads up 2 days before the placing - regrettably it was my sell’s that dropped the sp in the run up, I didn’t say anything because I couldn’t be even 25% sure, but back in now with 2% (May take more) and feel blessed, while mindful to others less fortunate

I really think that the actions taken are for the best, and now give this worthless priced to fail £0.5 mil cap at least time and space to pull this together and allow the phoenix to rise from the ashes, MAST could well now prove to be the stock of 2024

Yes for good reason RF more or less in control, I’m personally very happy with that, buy or sell, ramp or deramp as you wish

GLA - DYOR

‘Tower Resources has executed a contract with Borr Drilling for the Norve jack-up rig to drill the NJOM-3 well on the Thali license offshore Cameroon in 2024. The rig is currently busy with existing contracts to deliver a series of wells, whose timing is naturally subject to operational uncertainty’

By the executed contract definition, an executed contract comes when a contract is fully signed. It is now legally binding. A business relationship is created – and parties to the contract agree to fulfill legal obligations

Executing a contract sounds a little more than provisional to me - But yes going to the wire for definite

No we don't Kread - and absolutely no reason to listen to an utterly clueless clown thats got nothing better to do than spam this board daily despite the fact he claims hes not invested

Go get a life and a better paying job so you can average down !

See - https://www.offshore-energy.biz/borr-drilling-jack-up-rig-going-to-work-off-cameroon/

‘Tower Resources has executed a contract with Borr Drilling for the Norve jack-up rig to drill the NJOM-3 well on the Thali license offshore Cameroon in 2024. The rig is currently busy with existing contracts to deliver a series of wells, whose timing is naturally subject to operational uncertainty’

An executed contract is legally binding

More details here from 12/02/24 which confirm the 08/02/24 RNS

https://www.offshore-energy.biz/borr-drilling-finds-more-work-for-three-jack-up-rigs/

The offshore drilling player has been awarded a contract extension by BW Energy for the Norve jack-up rig. The rig’s assignment has been prolonged for approximately two months through July 2024. This extension comes after Tower Resources hired the rig to drill the NJOM-3 well on the Thali license offshore Cameroon in 2024. The jack-up is expected to mobilize to Cameroon between June and August 2024, subject to its existing contractual commitments.

News has to be imminent IMO

The Company 'will' make further announcements about the financing of the well and the mobilisation of the rig as firm agreements and notices are finalised and received.

Yes I think that sums it - if JA completes the jigsaw with the finance or JV we get a massive re-rate, if he fails then we could be fecked, risk assessment potential 10 to 20 x gain v maybe up to 50% loss = make up your own minds !

I think as previously discussed JA couldn't possibly have renewed the licence without showing proof of either financing offer / and or JV offer, as this was a condition of the terms, which by the history of this is understandable

So there had to be at least something in place at the time of the renewal and the rig certainly wouldn’t have agreed to book time in July / August without either iron clad assurance / deposit or proof of JV

Come on JA spill the beans !

100 mil buy getting worked off book

Hmmm very interesting no expansion or even mention of this from the 11/04/24 update

‘MED is currently in discussions with various potential debt and equity funders, including banking institutions that are interested to provide the necessary capex funding’

Sounds like somethings cooking - blockbuster update to follow shortly very possible

There we go right on the sweet spot - 53p vaporised !

Someone heavily unloading 51.5 / 52 once they clear the 53 positions will clear in an instant and up we go - a strong finish 54/55 today should indicate an even bigger rise tomorrow

Do ooh 😦 we never realised that Kread we just presumed Riverfort would just lend £4 million to any man and dog on the street, including frustrated ex employees and holders that can’t afford to average down 😉

Shorters and trolls should surely find the following comment so intriguing from the last RNS

‘MED appreciates the ongoing support that RiverFort provides to the Company and Pyebridge’

Yes wouldn’t any £1 mill mcap company (£700 k at the time) without any cash flow that miraculously manages to borrow up to £4 million (against supposedly worthless asset value) with very favourable repayment terms

Yes the agreement is iron clad with Riverfort set to earn 12% per annum so long as MAST deliver what they have promised Riverfort, but perhaps like the trolls Riverfort should have also done due diligence too 😉

On a side note, I do find this specific quite unnecessary statement intriguing in another way - one for you’s to 🤔 about

Yes it seems so folks but I don’t believe I posted anything specific / or that constituted an iota of inside information - obviously some anonymous jobsworth on this BB, either way I can’t say anything more

Have good weekend everyone ! 😊

Barno If you see the last holdings RNS you’ll see Kibo have sold down to 31% as they are literally running the company on fumes

Good support here this time - looks like the uptrend finally started