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If the SA Government have their way, Tower's SA offshore acerage will be attracting significant interest from a JV partner in the coming weeks. Gla ;-)

Expecting Great Things from Africa’s New Oil and Gas Economies in 2023 (By NJ Ayuk)

Africa Press Release

November 14, 2022

Moving south, the Brulpadda and Luiperd discoveries off the coast of South Africa’s Mossel Bay are estimated to hold more than 2 billion barrels of gas condensate – an amount that would set South Africa’s total petroleum resources at approximately 9 billion barrels of oil and 60 trillion cubic feet of gas. Such figures would dramatically transform the national economy by covering more than half of the country’s current energy demands and slashing its reliance on imports. Successful development of the Brulpadda and Luiperd sites will inevitably lead to further exploration, capitalization, and investments toward much-needed infrastructure, providing welcome relief from South Africa’s economic troubles.

https://www.zawya.com/en/press-release/africa-press-releases/expecting-great-things-from-africas-new-oil-and-gas-economies-in-2023-by-nj-ayuk-t3rzp86i

Highly significant news for Tower's chances of attracting a JV partner for their offshore SA acerage that straddles Totalenergies two wold class gas discoveries, expected early New Year. Gla ;-)

11/11/22

“early in the new year, early 2023, there will be finality. So once that is done, I believe it will give investors more confidence.”

.....

South Africa’s upstream bill to resolve woes, SAOGA head says

South Africa can develop its natural resources and achieve net zero, according to one industry insider, but more must be done legislatively and to secure community support.

......

“I believe gas is a game changer for us, in terms of developing our people, but also in in terms of getting us to transition out of poverty,” he said.

One positive note on this has been TotalEnergies’ application for a production licence at the offshore Luiperd discovery.

Strydom called for international support of gas power generation in the country, as part of the energy transition.

“We need to consider that gas reduces the carbon footprint dramatically, if you compare it with coal, so certainly we would like as an industry to promote that,” he said.

........

Certainty

One area that will help support the development of gas is “legislative certainty”, the SAOGA chief said. “We have taken too long to get that developed. Another positive is that Parliament is currently working on the Upstream Petroleum Resources Development Bill and has consulted widely.”

As such, Strydom said, “early in the new year, early 2023, there will be finality. So once that is done, I believe it will give investors more confidence.”

Alongside the legislative reforms, companies and politicians face a challenge in securing local support. Communities have objected to seismic plans over the last 12 months, disrupting Shell seismic surveys and others’ efforts.

“We have seen some misinformation that fuelled some antagonism around exploring for oil and gas,” Strydom said. The industry must provide more information on its plans and how it will have an impact on locals – and what safeguards are in place. “We cannot just go into the communities and expect them to understand what we’re thinking without engaging with them adequately.”

https://www.energyvoice.com/oilandgas/africa/459445/south-africa-upstream-saoga/

Njom-3 lies in shallow waters and a standard economical jack up rig will suffice, all environmental/social imapct assessment is complete and so the drill can happen very quickly with funding in place.

Namibia and South Africa will both require a Major JV partner, and given the extensive 3D Seismic campaign planned this coming year across the Walvis Basin by Seacher seismic , the chances of an early JV partner greatly increases, the industry already knows that the Walvis Basin share the same source rocks and many structures and features as the Orange Basin where Totalenergies and Shell's multi-billion barrel discoveris have been made...so watch this space!!!

Tower's South African offshore acerage is just as exciting, as the block straddles Totalenergies two world class gas discoveries....news of their production license application is expected early in the New Year and the SA Government are determined to push approval through along with continued exploration of their offshore oil and gas to ensure SA energy security and energy transition in the coming decade, and so the greenlight will be highly significant for Tower and a likely JV partner....Exciting times!!! Gla holders....Game changing news could drop at anytime!!! ;-)

21/11/22

Jeremy Asher, Tower's Chairman and CEO, commented:

"We are very happy with the progress in our discussions with BGFI Bank Group, and the support that the local bank has shown towards our project in Cameroon.

"Discussions regarding the rig options with suppliers and other operators are also continuing as expected. As previously announced, long lead items for the well have already been purchased, and the environmental and social impact assessment, site survey and site debris survey are complete. Therefore, we are in a position to move quickly once a rig slot is finalised.

"We remain very confident that we will be able to drill the NJOM-3 well in good time and thank our shareholders for their patience while we seek to conclude these discussions." , Njom-3 lies in shallow waters and a standard economical jack up rig will suffice, all environmental/social imapct assessment is complete and so the drill can happen very quickly with funding in place.

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Saudi Arabia plans to spend $1 billion a year discovering treatments to slow aging

June 7, 2022

Anyone who has more money than they know what to do with eventually tries to cure aging. Google founder Larry Page has tried it. Jeff Bezos has tried it. Tech billionaires Larry Ellison and Peter Thiel have tried it.

Now the kingdom of Saudi Arabia, which has about as much money as all of them put together, is going to try it.

The Saudi royal family has started a not-for-profit organization called the Hevolution Foundation that plans to spend up to $1 billion a year of its oil wealth supporting basic research on the biology of aging and finding ways to extend the number of years people live in good health, a concept known as “health span.”

The sum, if the Saudis can spend it, could make the Gulf state the largest single sponsor of researchers attempting to understand the underlying causes of aging—and how it might be slowed down with drugs.

The foundation hasn’t yet made a formal announcement, but the scope of its effort has been outlined at scientific meetings and is the subject of excited chatter among aging researchers, who hope it will underwrite large human studies of potential anti-aging drugs.

The fund is managed by Mehmood Khan, a former Mayo Clinic endocrinologist and the onetime chief scientist at PespsiCo, who was recruited to the CEO job in 2020. ““Our primary goal is to extend the period of healthy life span,” Khan said in an interview. "There is not a bigger medical problem on the planet than this one.”

.....

“We need to translate that biology to progress toward human clinical research. Ultimately, it won’t make a difference until something appears in the market that actually benefits patients,” Khan says.

Khan says the fund is authorized to spend up to $1 billion per year indefinitely, and will be able to take financial stakes in biotech companies. By comparison, the division of the US National Institute on Aging that supports basic research on the biology of aging spends about $325 million a year.

Hevolution hasn’t announced what projects it will back, but people familiar with the group say it looked at funding a $100 million X Prize for age reversal technology and has reached a preliminary agreement to fund a test of the diabetes drug metformin in several thousand elderly people.

https://www.technologyreview.com/2022/06/07/1053132/saudi-arabia-slow-aging-metformin/?utm_source=the_checkup&utm_medium=email&utm_campaign=the_checkup.unpaid.engagement&utm_content=09-30-22

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