RE: TRP 🚀 possibly the easiest 400% multibagger.3 Nov 2025 16:29
Yes and a lot of that skin has come from self advising fees, his own company a TRP advisor, nice work if you can get it, paying himself to fund his holding for many years. Likewise a lot of those shares, via his Pegasus ownership, has feathered his own nest nicely directly and indirectl.
The FARM IN
In recognition of existing production-based payment agreements in place with PEGASUS Petroleum Limited ("Pegasus") on the Thali license, which Pegasus has agreed to modify in Prime and Tower's favour, Prime will commit to production-based payments of 10% of Prime's after-tax share of profit oil from Thali to TOWER WILL IN TURN BE PASSING THEMAJORITY OF THOSE PAYMENTS ON TO PEGASUS and also retaining a portion itself, as previously disclosed; other aspects of the transaction include:
o A payment of US$1,875,000 will be made to Tower upon the farm-out agreement execution; 50% to be paid to Pegasus and 50% to be retained by Tower;
(PEGASUS)
o A further payment of US$1,875,000 to Tower on completion of the Thali farm-out; 50% to be paid to Pegasus and 50% to be retained by Tower;
(PEGASUS)
o The issue of 5,650,483,681 Ordinary shares in Tower to Pegasus in consideration of the cash retentions by Tower noted above.
(PEGASUS)
The later RNA update over rns news wire
The updated proposal the Company has received is more detailed and would now provide in excess of US$15 million of funding for the Thali PSC work programme, including drilling the NJOM-3 well (which is already partly funded), in return for a minority interest in the PSC, and with Tower remaining as the Operator. It also provides for future production-based payments to the Company, a portion of which are committed to PEGASUS Petroleum Limited ("PEGASUS", WHOLLY OWNED TRUST OF WHICH THE COMPANY'S CEO IS A LIFETIME BENEFICIARY )
There is skin in the game and skin in the game, in his case some massive personal nest feathering on a decades failures, being the major winner, if he ever gets one over the line......in 10 , 15 or 20 years , it matters not to him, one good win before he retires. With longer term PEGASUS beneficiary benefits.
Take all ceo/bod status with a pinch of salt on all shares, they look after themselves, Bell had a good one , annual you buy 1 get 2 free shares (better than Tesco's) paying 1/3 of the market price, for £6000 worth of shares annually on both his companies at the time. They all do it, very few with their own dosh, not gained from extortionate EXPENSE claims and wages paid directly or indirectly.
Worst CEO blagg on the market in recent years, COPL, ceo having paid himself £1m plus lots of trips expenses for over 10 years of abject failure , his confetti wonga on speed dial CFO 1/2 mill+
Such a hardship when he threw a huge amount in at 35p, having fallen from 80p on return from suspension, on its way to sub 0.10p and administration etc........many made a big deal of it and
PAID THE PRICE.......Death spiral and gone
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