Member Info for JRich20020

That's just requoting my comment which was a clip from the media section on the presidential website. Just a comment that based on the decree number being 50 more that of the last one posted on may 19th.

It doesn't mean that 1 of the 50 is for Tower. Maybe or maybe not. Don't jump to conclusions. Maybe the ones in between haven't been signed at all yet or not all of them.

Not neccessarily. I think notification comes via the ministry.

Décret N°2025/265 du 20 juin 2025 portant attribution de la Fourragère

'https://prc.cm/fr/multimedia/documents/10399-decret-2025-265-du-20-06-2025'

Only government decrees are listed on the reference. Most decrees are not declared. And there doesn't appear to be any public register.

From the President's website.

The President of the Republic, His Excellency Paul BIYA signed a series of decrees on 20 June 2025. About 50 (or more) signed since 19th May.

He only signs decrees occasionally. Last time seems to be 19th May.

He also spends a lot of time out of the country. Or has historically. No recent reports I can find of activity within it.

There's no programme of Presidential activity published that I can find.

Some fake news reports of a coup a few days ago.

It will happen when it happens.

Public company AGM required within 6 months of reference date I.e Year end. 21 days notice required. 30th June last possible date.

It's with the office of the President for signature, so already over the hurdle of MINMIDT. Except that they issue the letter of confirmation of decree signature. As I understand it.

I doubt it is a rubber stamping exercise.

Maybe something like this

Presidential office

Official intray 1

Approval

Official intray 2

Approval

Presidential intray

Decree

Official outtray

Back to Ministry

Official intray

Issue letter of confirmation

Where it is in this chain is anybody's guess

President has signed a few decrees over the last month and maybe this is one.

My understanding is it has got as far as the Presidential office. President will sign decree at some point. Depends how full the staff intray is for whatever approval needs to take place first.

Just a waiting game.

It's unlikely you'll hear anything unless it is published on something like a cameroon business website. I've not found anything new and I've trawled extensively.

I suspect from the way things were worded and the appointments that were made, that there were interested parties who might take on the New Age interest but not if this was still a quoted company. If they have found someone it will takes months to get the transfer approved and a presidential decree. Then it's down to FID. And that will involve Lukoil.

Then probably an exploitation licence which will require further approval. It's likely to be a long wait.

And then what? Sell it on, abandon it or develop it. Time will tell.

He's signed around 30 decrees since the 17th March. Maybe, Maybe.

I believe the ministry will send a letter of confirmation when the time comes.

The year end was moved to December and as a private company they do no have to file anything until end of September.

No obligation to report anything as far as I'm aware. Othere than statutory obligations. Even when they file they can trim the amount to a minimum.

All about buying time to find finance to replace New Age without the spotlight. Then maybe a go/no go decision.

Posted 24th March. Global Arbitration review.

Could be VOG.

UPDATED: An insolvent UK oil and gas company has brought a long-threatened Energy Charter Treaty claim against Kazakhstan, seeking at least US$112 million over an alleged corporate raid on its local assets.

Possibly arriving. No certainty about the end of March. Totally in the hands of the president and his pen. Nothing Tower can do about it except wait.

I thought this was old news but apparently not. Looks like the project has been revived.

GDC were at the AEW conference toward the end of last year looking to farmout Matanda.

Administrators should be providing an update within a week or so. Could be interesting. On more than 1 front.

Cameroon continues its efforts to strengthen its energy production capacity by initiating two gas-fired power plant projects with a combined installed capacity of 500 megawatts (MW). These projects, planned under the Public-Private Partnership (PPP) model, involve facilities in Bekoko, near Douala, for 350 MW, and within Douala itself for 150 MW. According to Cameroon’s Ministry of Water and Energy, both plants are technically ready to proceed, but their implementation remains conditional upon the National Hydrocarbons Corporation (SNH) confirming the availability of natural gas at the selected sites. No precise official timeline regarding construction or completion dates has yet been provided.

Bekoko project

The planned thermal power plant in Bekoko, with an installed capacity of 350 MW, represents the primary project among the two new energy facilities. The Turkish company Aksa Enerji Üretim A.Ş. has officially expressed interest in this project and has already conducted the mandatory preliminary Environmental and Social Impact Assessment (ESIA) studies. To secure natural gas supply, a preliminary, non-binding agreement has been established between Aksa Enerji Üretim and Gaz du Cameroun, a local subsidiary of Victoria Oil & Gas, a British company involved in natural gas operations in Cameroon. However, the definitive financial terms of this public-private partnership have not yet been made public.

Douala project

The second thermal power plant, with a smaller planned capacity of 150 MW, will be located directly in the city of Douala, the country’s major economic hub. Unlike the Bekoko project, details concerning potential private partners, planned investment amounts, or specific financing modalities for this project currently remain confidential. As with Bekoko, natural gas availability for this facility will also be assured by the SNH, an essential condition emphasized by the Cameroonian government to ensure the project’s economic viability.

Life is not that simple in Cameroon. Licences are not simply renewed. Extensions are granted and receive a presidential decree eventually . All takes time. Months not weeks. There would have been no point applying until the farmout was agreed and that is still subject to ministry approval and maybe presidential too. The extension starts when decree is signed. That's my understanding.

JA said in his interview that talks in SA had been going for longer than those in Cameroon and that other interested parties had now appeared. There may be other proposals on the table now which will need reviewing. So maybe a deal is further away than first thought.

I see the SP was .028 in December 23 when this report was produced. Market cap was £2.6m. So around 9.5bn shares. Now nearly 30bn.

I think I'm correct in saying these valuations were based on additional fund raising and subsequent shares in issue of 21bn.

So you need to factor in the nearly 50% more shares in issue now.

According to the Borr status report dated 19th feb it is in the Congo until May. ENI don't appear to have exercised their option to extend by 180 days. The LOA is binding. That's seems a bit risky if it is Tower as they don't have a sign off yet and in Cameroon date expectations are rarely met. Happy to be proved otherwise though.

Even when sign off is achieved it is going to take min of 4 months to get everything together. If you haven't watched JA's recent interview on youtube I suggest you do as it puts everthing into perspective timewise.

The current licence is an exploration licence. The exploitation licence comes later if they decide to bring it into production.

At that point there is the opt in possibility.