Member Info for NICKTIMS

SEBO10 - No, I am not JA in disguise. Would I put in any more money? Answer: You bet what you can afford to lose. Legal action is not a realistic option. "If your head is down the tiger's throat, you cannot negotiate". The best option is to have a beer and await further RNS'S. 95% of comments on here are a waste of time, albeit I come here for the 5% which are meaningful. I can offer no further information until it happens.

SEBO10, as previously explained, the system in place is the RUBBER STAMP, which now has to go back down from the President to the Minister for Mines/Oil/, etc. Currently, the relevant person is Interum/temporary. Due to allegations of one sort or another, he is being more cautious; therefore, far greater due diligence is being exercised. I am confident that Cameroon want this as much as we do; however, these things take time. JA has done everything within his powers and more. This is another mandatory piece of the jigsaw which has to be completed. Until such matters are completed, this can cause further delays in approving a rig at an appropriate fee and in ensuring the rig is available at the required time.

BLISSFUL - I WENT TO THE AGM. Very useful indeed. A lot was said, differing from opinions on this chat site.

1) Cameroon: low chance of drilling in Q4; more likely Q1 of 2027.

2) Not all rigs are suitable, e.g. shallow depth but 30 meters of mud, which causes problems when removal is required. TRP pay for this challenge!

3) Presidential approval granted; however, all paperwork is non-computerised, using an old-fashioned rubber stamp! This means several stamps to go to the President up the chain, then more rubber stamps to go back down the chain. Indeed, time-consuming (but quicker than seeking approval in the UK).

4) Cameroon is exceptionally exciting in my opinion - several stacked pay zones in the UPPER/MIDDLE/LOWER Isongo and potentially secondary targets in deeper intervals.

5) Remember, not all rigs are suitable; furthermore, to encourage financial tension/competitiveness of rig procurement, such information should not be available to shareholders (just in case someone tells the rig operators).

6) AI is used to assist in the best potential drill site.

7) In the event of a potential oil find, then production will be 12-18 months from now.

8) There are two types of investors. 8.1 Fundamentalists (which is my viewpoint). 8.2 Traders who want news today.

This share is a giant jigsaw; you cannot continue to the next piece until the previous one has been put in place. I have every confidence in JA, the hurdles which have to be overcome being numerous. This post reflects my opinion only; it does NOT constitute investment advice. Good luck.

I did go to the meeting. Cameroon should be drilled Q4 of this year/Q1 of next year (this has gone on for a long time through no fault of JA). Cameroon production, if commercial, would take 12-18 months. That is a brief summary.

ChessGambiteer, please show me where in the audited accounts this is stated?

Jamins, if you think that wells drill themselves, then you are sadly mistaken. The enormous hurdles to overcome prior to drilling are excessive. Read a couple of annual reports and attend the AGM. The board are very experienced, and you can learn so much. I hope to see you there.

ChessGambiteer. Would you reply to an arrogant, disrespectful, churlish email? Remember the old adage, "You cannot upset someone and influence them at the same time". JA has so much at stake. He wants this to happen far more than you and I.

ChessGambiteer. JA does not receive a salary from Tower, none whatsoever. He does receive shares, and they will be completely worthless unless he produces results. He wants success far more than you. These details are transparent and clearly documented in the annual results. I shall be attending the AGM and look forward to an update.

I look forward to attending the AGM this year. Always a pleasure to meet JA, who owns a large shareholding in TRP. He has far more to lose than me! He wants this deal as much as I do.

AFY786 - Welcome to the forum. There are many lessons to learn. I'll give you a few tips.

1. 95% of the posts on chat room forums are complete rubbish. However, the 5% are smart people, worth listening to.

2. Never expect to get in at the bottom and out at the top price. I have only achieved this twice (over 50 years). It's never wrong to take a profit!

3. A strategy of averaging up and down can often pay off well.

4. To save time, filter out the time wasters who offer posts with no substance. E.g. the moaners are sarcastic fools.

5. Read the company report! Few investors tend to do this!

6. Attend AGM's and chat to the Chairman & Directors after the meeting (the most productive time of an AGM).

7. Learn a little often, don't expect to know everything on day one!

Good luck.

Asher7, fair comment. I guess another 12 weeks is not the end of the world. I shall rephrase my comment to "Slight Disappointment." lol.

Ashe7 - If we are not drilling until Q3 - Subject to rig availability, then, personally, I would describe such a finding devastating.

Jperryuk - I will rephrase my sentence, namely top heavy. Approximately £2 billion, around 1/5th of the total car loans. I would prefer a smaller car loan book e.g. 10% if I were a new investor today.

Whatidsaytothat - Until quite recently, most of my investments were made 10 years ago. Substantial increases were made during Covid, and, this strategy performed very well. Buffett has dramatically increased his holding in T-bills. I avoid the UK equivalent, namely Gilts and invest cash in banks/building societies, ready to invest in shares when appropriate. My strategy is clear and well-defined. Effectively following the Buffet methodology. I wish you every success.

Asher7, your comments would make prudent sense; This would create healthy financial tension/competitiveness for the remaining 9 blocks on offer.

KNOT, good question indeed. Investment is about research and price opportunity. Close Bros have been on my watch list for some time. After the final court hearing, I thought that I had made a miscalculation and got things wrong. Day traders get it wrong more often than they get it right - I invest mainly for the longer term, a "Warren Buffet" approach. Selling assets and laying off 600 staff indicate problems in the near future. The war in Iran affecting energy prices will lead to turmoil. For me, an opportunity to invest in Close Bros may exist in the future, however, I shall remain 95% in cash for the time being.

RUSTY 50 - a good question indeed. Cameroon will offer 9 Oil and Gas Exploration blocks, the Bid Round Closes March 30, 2026. The agency plans to announce the results of the bid round on April 24, 2026. It would make sense to include any announcement pertaining TRP either before or on this date.

I believe the above date is the latest date for an announcement regarding TRP licensing. Yes, it could be before, however, gut instinct suggests this is the very latest date. Good luck to all.

KNOT, I should have mentioned the word NOTIFIABLE short position. I appreciate they are short and could have a derivative position that does not require FCA disclosure.

KNOT - question for you. If Viceroy is so sure of its opinion, why has it not taken a short position? - I am not a shareholder here; however, I was very close to being so. Indeed, I sold 95% of my share portfolio around a year ago. I have concerns that Close Bros. has downsized by 600 staff and sold some of its assets. The other concern I have is that no business should be heavily reliant on having all their eggs in one basket, e.g. car finance.