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Significantly, Tower highlighted the industry interest in the vicinity of the acreage – noting the recent nearby farm-in activity by Exxon, Africa Energy and Kosmos Energy. (i'll add Shell in this list too)

"We are very excited about our new Petroleum Agreement in Namibia,” Jeremy Asher, Tower chief executive.

“As a company, we know Namibia very well, and the wells drilled in the Walvis Basin during the past few years have provided a much greater level of understanding of the regional geology.

“As a result, Namibia and the Walvis Basin and Dolphin Graben, in particular, are now attracting great attention from well-respected explorers, both large and small, and are also once more attracting considerable farm-in interest and investment".

https://www.proactiveinvestors.co.uk/companies/news/208705/tower-resources-secures-new-exciting-exploration-acreage-offshore-namibia-208705.html

So lets pick a sentence out..

' the Walvis Basin and Dolphin Graben, in particular,'...

HOW do Tower Resources know that this area particular is now attracting great attention from well-respected explorers, both large and small, and are also once more attracting considerable farm-in interest and investment"??

As part of the alliance, the two companies will also jointly evaluate opportunities in adjacent geographies.

https://www.oedigital.com/component/k2/item/17539-kosmos-energy-shell-form-alliance

I'm no Sherlock Holmes but clealry there are looking across Namibia for additional opportunity!

Cheers J..

So it begs the question... Why terminate our farm out process???... More evidence of this being a crucial time..

“We’re looking to do exactly the same with Shell in the southern part of West Africa,” said Inglis.

“It’s a different place... it’s outside the transform margin where we’re focused with BP. It brings in the potential of a carbonate play in Namibia (and) Shell’s expertise there (with) our expertise in the Cretaceous. Then you got that world-class development company.”

Crucial time... https://www.oedigital.com/component/k2/item/17539-kosmos-energy-shell-form-alliance Focus on Namibia!!

New partners seek out exploration targets off southern West Africa I'm not subscribed however this could easily include Namibia. https://www.upstreamonline.com/hardcopy/1625094/kosmos-and-shell-launch-alliance-in-africa

It's worth roughly x10 of our cap with much less cash! Funny old game!

Africa is finally seeing the benefits from the recovery in crude prices as companies ramp up drilling from Algeria to Namibia. The rigs are returning and wildcatters are getting excited again after a years-long hiatus during the oil-price slump. From majors like Total SA to independents like Tullow Oil Plc, companies are snapping up exploration rights and doing deals. http://energymixreport.com/african-news/oil-gas-africa/africa-sees-oil-boom-on-drilling-expansion-across-continent/

Eyes are wide open! I want to know why they are happy!

We are so lucky this news has arrived so quickly...

Sticking my neck out there but I now think this.. Hope I am right!? The right deal was dependant on 1. Has C1/PEL 37 actually produced oil and trapped it? Ans: yes it was prolific in oil generation but our trap failed as we suspected it might. 2. Who is going to win PEL 94 for us to deal with if our trap fails as we can see it will naturally migrate into 94 and we know the ministry are about to award the block.. is it GBP? TRP? Someone else? Ans: GBP Next move.. GBP Cancellation of farm out mandate and increase in share size to complete the 'right' deal.

I think the line/journey of those thermogenic gas shows are significant, particularly when read with the following from our website. In Block 2011A a survey recovered thermogenic gas from seabed cores, which suggests that of the oil and gas generated by the Aptian source rock, the gas has leaked up through a large fault that underlies these cores, whereas the oil has been trapped in the sub-surface. Also visible on the seismic in Block 2011A is a very large area of shallow gas above the large fault and, whilst this will never be a commercial accumulation, it does, with the evidence of thermogenic gas from the seabed cores, indicate a working source rock in Block 2011A. What is missing from above is migration.. after all, this is a regional focus / fetch area for migration.. it has managed to trap the gas associated with oil at this location.. :-)

Something very interesting from TRP's presentation of 2014 that now possibly makes a lot of sense. Looking at page 13 titled source kitchens.. PEL0010 sits on a regional high, that will be a regional focus for migration and charge from a large fetch area over the Walvis Basin, Dolphin Graben & Namibe Basin. 
Look at the picture to the right showing the minimum Welwitschia fetch area, it is the minimum area suggested but just touches PEL 37, Tullow's cormorant well. Gembrok is caught in this area too. Now look at the red stars showing a trail of thermogenic gas running in a line into the east of our 94 (old pel 10) within the fetch area. Also shows the oil slick in our PEL 94, I would love to know the exact location. https://www.towerresources.co.uk/files/TRP_CorporatePresentation_0114.pdf

Something suddenly changed at GBP, and therefore we are altering course (imo) An interest in the company rather than just the asset fits perfectly with this scenario and would leave us seeking a farm in partner as that is also, for example, AEC's tactic too. It is the same thing J.. we seek a farm out deal, nothing has actually changed there, just how we go about it has.

Assuming we were to enter a farm out agreement, and this was the reason we terminated the mandate, Stellar would want to be paid for doing the leg work, I'm sure there would be a clause in the contract protecting Stellars interest? plus, GBP wouldn't say we still seek a farm out? That's how I see it but I'm happy to be corrected..

Let's flip it on its head.. AEC could buy 25% of over 3 billion potential in 29, x billions on pe 94 PLUS the oil migration acted from their read across previous investment in PEL 37 plus 3D seismic thrown in for under a million quid.. ( I like to think like eco they would pay a little more) What wouldn't they??

And new terms can't be agreed without all parties involved..

Hopefully he will put some meat on the bones? Our annual report clearly stated we are still looking to farm out? Why terminate the current farm out mandate? Doesn't make sense unless.. the terms that we were going to farm out with are about to change..imo..

We've already got cash to tick over.with zero debt? Around £3.5m what's another possible £700k or so going to achieve? The award of 94 appears to have changed something? The termination of the mandate I see as a clue? You only take a product away from the shop window when it's sold.. particularly when reports say offshore Namibia is hot with deals going down in a frenzy. I posted one only yesterday. It's unlikely to be a farm out otherwise we would surely be in breach of the mandate we terminated?

I should have said how and why..

So possibly a reason how we acquired it..