Member Info for oilmanmike

schachmeister 12/1/2020 14:11 post

"This is primed and ready to blow, if your not in 'before' news lands, then you will have to pay 100%+ premium to get in !..Its that simple ! Not only will you have to pay the premium but you will struggle to buy in size and will have to pay more and more for each small tranche as the share price goes orbital. The smart money is loading up now 'before'this goes Ballistic,we all know these tiny micro-oilies go Ballistic on any positive news and all the criteria has been met here ready for the launch which will come when news lands! In the meantime,expect the steady rise to continue as speculators join the ride before the fuse is lit on news, and it could be news on more than one project ! Tower could be the best multi-bagger of 2020 for those who arrive early !"

Jim what I said was that because there was no action in GBP until 11am last Friday and TRP was up at the open on heavy volume it is likely that the news driving TRP was not Namibia related otherwise both shares would have opened up the same way.
Number of shares is irrelevant but the £2.1m market cap of GBP is smaller I grant you.
However so is their acerage at 11,000 acres compared with Towers 23,290. Additionally the GBP acerage was given up by TRP/Repsol after the well they drilled was uncommercial. Not saying
GBP have not got good acerage it's just not as good as TRP's.
GBP has been in a downtrend since early December which is the opposite for here and If I held
I would use any short term strength to sell and buy more here. If I am correct the Cameroon/South Africa news will then allow you to buy back more from profit for the longer term Namibia play.

Jimarillo,
Although I agree that GBP is also an interesting company in itself the comparison with TRP is limited to Namibia and there in lies the problem. The difficulty is knowing whether the 20%
rise in GBP on Friday was cause or effect. There are plenty of clues which point to it being an
effect of the rise in TRP. The fact that there was no trade in GBP until 11am and the low volume comparatively speaking point to the News NOT being related to Namabia.
This leaves the Cameroon and South Africa both of which Tower has actively been seeking
to Farm Out. My money is on the Cameroon where IMO Asher has the Farm in term sheet up his sleeve.

on advfn.
At least if you are going to copy my posts word for word then at least have the common
decency to credit me for the material. Thanks

Following on from the Envoi flyer sheet for Tower's Thali licence I took a look at the flyer
for South Africa which was a bit of eye opener.
Whereas previously I had assumed the 360m bbl prospect Asher refers to when talking about
South Africa was an oil in place number I have released it is actually a P50 mean recoverable number. This is a bit of a game changer for me.
Together with our JV 50/50 partners New Age we are offering a percentage in exchange for
a 3d survey programme which will cost between $5m and $7m. That is Just one large target
in the Slope 'post rift' play. (see diagram in link). There are also numerous shallow water
leads in the Gamtoos and Algoa basins. All in all recoverable oil in the licence could be as much
as 200m bbl for our 50% share. Obviously we need to farm out to get the 3d survey completed
but I Imagine we would retain 35% going forward in order to farm out again for the 1st drill.
Tower should end up with 20% of the 364M bbl recoverable so 73M bbl net with another 15m odd
possible on the smaller leads..
Using the $7m for 30% of the block values TRP's remaining 35% at £6.2m on a farm out deal.
Thats 0.56p a share which is v close to the increased sp after Fridays trading. It certainly does look
like some kind of SA farmout deal is about to be announced. So v good news on the way here IMO.

The numbers on the Cameroon farmout and appraisal drill success are:
51% of $118m = £46.2m or 4.2p a share. Being conservative and valuing
the 9m Bbl proven reserves at $4 a bbl gives 2.5p a share.

Namibia is more of a guess and although the potential is much bigger it is the
longest term of all our assets. A conservative estimate would be 1bn bbl recoverable
and assuming we have to Farm down to 50% to get a 3d survey funded and 20% for
the first drill thats still 20% of 1bn bbl. Even at just $1 per bbl pre drill thats $200m.
At 1/10 th of the price i.e. $0.1 it is £15.4m or 1.4p a share.

Adding it all up the total is 4.46p a share

This is an extremely undervalued company and the slightest spark and it
will light up for all to see. Friday was just a glimpse of the way this is going.

http://envoi.co.uk/wp-content/uploads/2019/11/P253-NewAge-SouthAfrica-AlgoaGamtoosOuteniqua-Envoi-Project-Update-Nov-2019.pdf

Best read in the order posted.
Although the first is an outlook for 2019 it is still very relevant.

HTTP://www.frontierenergy.network/ceos-picks/2019/5/22/mike-lakin-managing-director-envoi-limited-at-the-africa-eampp-summit-london

http://envoi.co.uk/wp-content/uploads/2019/11/P257TowerCameroonENVOI-IntroFlyer.pdf

I'm still here OB
just kicking back enjoying the morning.
No new released bit I an assuming someone
has got hold of some leaked info.
Doesn't really matter if it's the survey, farmout
or rig contract as they will all effectively have
the same result on sp.
This will be over 1.5p maybe more once things
start moving.

underway again but may just be moving back to previous position.
As OB said a lot of movement with no result.

the 5m sale was delayed an hour.
Agreed didn't seem to have any impact!!

Hello CAR3Y volume just jumped to 20m.
Don't have L2 currently. Appreciate the MM
detail. Agree PH ones to watch here.
The market was bidding 0.426 in 1m 10 mins
ago or so then Vol jumped.
Can see live price on investing dot com but
have to wait 15 min to study trading pattern!!
Unless I am quick with pencil and paper!!

moving averages looking v good.
Golden cross material if not already

nm

"I think if there is big buys before or after closing it will shut up in the morning"

you mean if buying continues into the close it will open up in the morning.?!!!

1,146,263 shares at 0.4362p.
Welcome aboard.
Ship about to sail
literally.

13:51:12 trade is that you Rocket??

in the entire market today.
We now appear as a small dot
on investors radar. Small currently
and hence extremely lucrative.

Rocket did you buy in yet?

originally from twitter as titled #TRP

Have a look at #TRP - £4.3m market cap - recently raised £1.5m at 0.325p of which CEO Jeremy Asher took £700k, he's also invested a separate £410k at 1p earlier in the year. He now holds 27% of the company. News on Cameroon farmout due soon where the chance of success for the drill is 80% and hope to produce 8,000 bopd by end of 2020. They are in significant discussions with several interested parties and hope to conclude the financing in the very near term. Asher has recently stated they will not be raising the funds for the drill via equity because the company is already undervalued as it is and diluting is not an option. He also gave a $750k bridging loan to the company and has tied a royalty bonus to it so he must be confident of a farm out deal. He also has 166m warrants at 1p so is well incentivised to get a deal done for Cameroon and Namibia. CAMEROON "the Company is continuing farm-out discussions with multiple parties who are currently undertaking due diligence, and the Company is hoping to bring at least one of these discussions to a conclusion in the near future" "The Company and its subsidiary, Tower Resources Cameroon SA, have signed a contract with Geoquip Marine Operations AG ("Geoquip") to conduct the site survey at the intended NJOM-3 well location on the Company's Thali license in Cameroon. The contract provides for the MV Investigator to arrive in Cameroon between 15 November and 30 December 2019" SOUTH AFRICA "February 2019 announcement by Total of a 1 billion boe gas-condensate discovery at its Brulpadda well in the Outeniqua basin, on its Blocks 11B/12B in South Africa, which is immediately adjacent to the Company's 50%-owned Algoa-Gamtoos license" The company are actively seeking farm out partners for Algoa-Gamtoos license in South Africa. NAMIBIA "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" hxxps://youtu.be/miGwKe6mAXA hxxps://youtu.be/deyMTQUbnVM hxxps://youtu.be/V-QsvbZIjyc Also worth checking out their recent investor presentation from their website.

I agree whole heartedly with all of the above.

Next high tide 4:35pm local time.
They are GMT+1
https://www.tide-forecast.com/locations/Douala-Cameroon/forecasts/latest/six_day

I will let folks know when it departs

2.5p a share is about right for the first drill success case
GCOS is 90% according to Asher. As soon as we receive
funding news this will be over 2p a share. IMO the first leg
of the move will be when the survey begins as this means
ball is rolling. Reasoning is that farm out ir ready in the wings waiting for Govt
to confirm extension. Once confirmed it will be a rapid fire RNS's
Survey started
Cameroon Farmout
Confirmed Drill date
Spudding etc etc etc.
Too many RNS's for such a small free float
(£2m) to handle with the high
value prize. Therefore a few get in early
on the survey pushing it to 0.6p or more.
That's chapter 1