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No offense meant but I suggest you don’t contact them. Loads of pi’s from wherever, giving them AGRO will just annoy the hell out of them which will ultimately be counter productive. IMHO.
TIA
That is the advice given to me by JA a while back !
I’ve often felt Perenco and TRP have been there, cracking a deal in the background. Makes sense to me they have producing wells and existing pipeline infrastructure right on TRPs doorstep. Not to mention potential JV in NAMBIA and SA
???
They are certainly busy in TRPS neighborhood North and South of Thali block !
This is from World Oil last month:
‘ Perenco in Cameroon, the country’s leading oil and gas operator, announced the completion of the South Kole Marine development. South Kole Marine, initially discovered by another operator in the 1980s, forms an important part of Perenco’s strategy of maximizing the value of its existing acreage in Cameroon. The South Kole Marine development is located 50 km off the coast in 30m to 50m water depth.
The success of this development project, which has achieved a daily production of more than 3,800 bopd, clearly demonstrates Perenco's technical expertise in bringing previously undeveloped fields onstream.
After an intensive eight-month work program, Perenco has successfully ensured the economic viability of this marginal field, thanks to the use of innovative solutions in terms of well architecture, the laying of pipelines and the type of platforms installed. ‘
Does anyone else think it’s a candidate for a buy out lock, stock and barrel ?
The directors of got such a stash of Warrants and there are so many cheap shares knocking about for someone with big Pockets and it does have some interesting potential. To anyone interested in the prospect addresses tower has
Some one a while back mentioned Perenco and that has been by suspicion
That there’s a lot more going on in the background than we realize . These deals take time.
If it did become apparent there was a buyer for tower complete what would that do to the share price?
Thoughts
When I emailed JA in early December to ask what was happening He said be patient will let Market know via RNS.
And added but be assured THINGS ARE PROGRESSING ON ALL FRONTS.
I took that to mean not just Thali but Namibia and SA too!
And things are now progressing from here on in I believe so with this space!
Some RNS’s I’ve reviewed before buying back
Going back to 3rd October 2019
“Tower has disclosed technical and commercial information to a major international oil company, in order to explore the potential to co-operate in respect of Tower's Namibian Blocks. This follows preliminary discussions initiated by that company and held earlier this summer.”
Jeremy Asher, Tower's Chairman and CEO, commented:
"This process is at a very early stage, and may not lead to any agreement. However, it does provide a timely reminder that, in addition to our Cameroon appraisal and development project, the Company has two extremely attractive exploration opportunities in Namibia and South Africa.
In the interim we have had Covid lockdown etc. Since this was written both SA and Namibia have had some big discoveries.
Jeremy A on the Thali prospect
“We are also keeping an open mind on other financing alternatives, but whichever path we follow, as we explained in May, we expect the result to be considerably more favourable for shareholders than the farmout structure previously contemplated. We plan to conclude financing discussions in the third quarter of this year, as previously intimated, and then to press on with the well.”
There could be any number of majors interested and such discussions take time. No doubt some of you LTH have had many discussions in this regard on as to potential JV and they potentially have increased since this was written but to me one stands out: Perenco.
Quotes from Perenco's website “The investment strategy aims both at developing drilling campaigns near its current fields (Northern Dissoni, Inter Inoua Barombi, and Bojongo) and at optimising production through numerous well reconditioning operations, the development of new reservoirs, or stimulation actions.”
“Perenco's strategy is based on the acquisition of assets, the exploration and the development of new opportunities - where its particular know-how makes the difference…”
The Dissoni north (Perenco)and Dissoni south (TRP) literally overlap one another.
And Dissonni North already has Pipeline and rig infrastructure in place
So makes sense to me. I would be very surprised if they hadn’t had a chat somewhere along the line. I’m sure Perenco would also be keen to get in on the SA and Namibia action
I think because this isn’t a normal exploration well but These are proven reserves that re being revisited, The risk for the financiers is significantly more positive. 80% chance of success
Compare Some RNS
Gross mean contingent resources of 18 MMbbls of oil across the proven Njonji-1 and Njonji-2 fault blocks and with a development contingency probability of 80% on first phase and 70% on second phase;
The NJOM-3 well will appraise the reservoirs already discovered and connected to the NJOM-1 well, and will also test additional reservoirs which are visible on the 3D seismic data which we reprocessed in 2018 but which are not present at the edge of the Njonji structure where NJOM-1 was drilled.
The Company has prepared updated resource estimates for the reservoirs connected to the NJOM-1 discovery well, which are set out in detail in the linked presentation at page 8. These estimates are a little higher than the estimates contained in the OIL Reserve Report (24.9 million barrels pMean recoverable compared with 17.9 million barrels per OIL).
Hi All
I Picked up on this again just recently and bought back in, I have been reading the chat and have noticed the frustration over delay in news, dilutions etc. As mentioned by others, I would agree It would seem there is a lot going on in the background for sure. Its noteworthy that JA has a significant amount of his own money invested here, not just a token amount. There is no doubt in my mind that there must be a lot of ‘Sub Rosa’ negotiations going on in the background to get the best deal, maybe several other companies, possibly even a buyer for all of TRP’s assets, time will tell but with the amount he has invested, I feel sure JA is not being idle. All of TRP assets are in areas of increased activity and interest and now proven working HC systems. Further to the original financing arrangements, there must be additional JV discussions going on with regards to all the TRP blocks, either as separate assets or even as a whole lump, hence the protracted delay. All will be revealed But in due course, I feel sure this will be a multi-bagger.