Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
"So when I sold it was a welcome surprise to receive the 5.19p dividend on top of the 7.64p sale proceeds."
If you sold your shares pre suspension you should not have got that 5.19p payout. It is a mistake and will be taken back at some point
"Asher is full of it ,diluted share holders to dealth with over 8 billion shares. consolidation the the dilution starts all over again"
Every oil and gas company has to place continually before they get to production. How else do you suggest Asher funds the company ? The magic money tree ?
I have an order in with JPJ. I am after 2,000,000 DCU's and will pay the 1.77p mid market price. No takers yet.
Prospective investors might also consider that TRP need only achieve partial success in Cameroon to generate significant value. A 10pc chance of delivering the project, or a 10x dilution, would still give substantial upside on the shares. How much of the risk of failure is already priced into the companyâs present value â and how much of the prize of success is not priced in? As developments at Thali unfold TRP is one to watch closely this year.
Https://total-market-solutions.com/2023/07/tower-resources-plc-2/
DATE
10.07.23
How much of the prize of success is not priced in for Tower Resources
ââŚThe company is âlooking closely at two possible rig availabilitiesâ, one in this third quarter, the other in the fourthâŚ.â
Africa-focused exploration and production group Tower Resources (AIM:TRP) continues to struggle against the tide of exceptional industry conditions to commence drilling an enticing near term prospect offshore Cameroon. But as pressures on oil and gas service providers ease, 2023 may be the year the company is finally able to begin realising the potential of a highly prospective set of licences.
TRP is constructing a balanced portfolio ranging from exploration through appraisal to production, initially focusing on lower risk appraisal and development within the proven Rio del Rey basin in Cameroon, where there is also low-risk exploration upside, while maintaining selective exposure to longer term and higher risk/reward prospects in Namibia and South Africa.
The company is led by industry veteran Chairman and CEO Jeremy Asher, who currently also serves as a director of AIM-listed Block Energy, and has held senior positions at companies including Pacific Drilling SA, Gulf Keystone Petroleum Ltd and Oil Refineries Ltd. Previously, Mr Asher ran the global oil products trading business at Marc Rich & Co (now Glencore AG), and played a leading role in the development and sale of the 275,000 barrels per day Beta oil refinery at Wilhelmshaven in Germany, and was also Group CEO at PA Consulting Group.
Near-term production at Cameroon
TRP is seeking near-term production and revenues through its 100pc interest in the shallow-water Thali Production Sharing Contract (PSC), offshore Cameroon. The Thali PSC covers an area of 119.2 km2, with water depths ranging from eight to 48 metres, and lies in the prolific Rio del Rey basin in the eastern part of the Niger Delta. The basin has so far produced more than one billion barrels of oil, and remaining reserves are estimated at 1.2 billion barrel of oil equivalent (boe), mostly at depths of less than 2,000 metres. More than 34.5 billion barrels of oil have been discovered in the Niger Delta, with 2.5 billion boe attributed to the Cameroonian section. The Thali Block has the potential to hold at least four distinct play systems, including two established plays in which three discovery wells (Rumpi-1, Njonji-1 and Njonji-2) have already been drilled.
TRPâs priority is to drill PSCâs NJOM-3 well in the Njonji structure as soon as possible, described by Mr Asher, speaking to TMS last month, as a âgatewayâ to a much larger development. NJOM-3 will target the contingent resources within the Njonji 1 fault block (and the PS9 reservoir in the Southern Njonji fault block) with multiple objectives: confirming the thickness of the three reservoirs already penetrated by the NJOM-1 well nearer the crest
The catalsyts for a much higher share price are:
1) Licence extension
2) BGFI loan sanctioned
3) stake in Cameroon sub sold
4) Drill rig contract signed.
Rememer Thali is an appraisal/production well. 90% chance of success.
I am a serious holder of TRP.
"HL often don't allow you to trades stocks like this too. You only get the option for 'fill or kill' or 'limit' deals."
if your deal size is outside the NMS then yes you have to go for "fill or kill" or set a limit.
When I have asked for a price for dealing a quanity more than NMS I have got it 99% of the time
Ithas only "kicked off" on here as that idiot Percy said he wasn't wllowed to sell.
The crappy broker he uses does not get access to real stockmarket pricesso no wonder he couldn't sell
If he used a proper broker like HL he wouldn't have such problems
if he had
"kever âŚ. iâm telling you it wouldnât let me sell a stitch on freetrade, it kept getting regected. so iâm not bulls*******"
Never heard of free trade.
I guess it is free as it won't let you trade. Get a broker who will let you trade like HL and you can freely trade TRP shares you lunatic
"The directors were owed ÂŁ30k in fees, they are given warrants in lieu of fees. Why is that not compensation?"
Yes it is compensation but the shares have to go up 300%+ before most of the warrants get into any profit.
If that happened I would be avery happy shareholder.
HL - 7th June
DCU's unfortunaely can't be held in an ISA so will be transfered into your normal trading account in due course
"If anyone is going to the AGM, please can someone at least ask the board need to justify their compensation over the last 12 months"
jamins clearly you haven't done your homework. All 3 TRP Directors get paid in warrants. The cheapest warrants are priced at 0.05p (issued recently). Most priced at 0.1p-0.5p
So the shares have to increase dramatically for them to make any money. They all have real skin in the game.
The DCU's are tradeable now with JPjenkins on a matched bargain basis,
Current price 1.77p