Member Info for oilmanmike

the survey is the last operational piece of work needed before the Drill.
Once the survey is completed then we can enact the farm out Asher has
up his sleeve and we will be funded for the drill.
The 1st drill will unlock 18M bbl of reserves 51% to Tower after farm out.
From then bank finance is available for development of the field.
i.e no equity dilution which is the norm.
value to Tower approx £45m v's market cap of just £4.4m
hence target on survey 0.6p
Spud of drill 1p Good oil flows 2p
This is only the beginning IMO
The ground floor of a 20 story building!!

someone just sold a good chunk at 0.405p so should be able to buy in size at 4.2p ish if anyone
is looking to buy some. Don't think they will be there for long.

Mookster I will be happy to answer your questions after you have watched both interviews with Asher I posted up. More productive that way! regards.OMM

Apologies this interview is more recent.
https://www.youtube.com/watch?v=miGwKe6mAXA
watch both in date order for a very good idea of where
we are now and where we are going re Cameroon.
Also touches on S.Africa and Namibia.

https://www.youtube.com/watch?v=V-QsvbZIjyc&t=276s

well worth the 12 minutes.
Drilling within the next three months

Afternoon OB,
Correct Air France is the only regular flight into Douala.
Highly paid technical staff would not be sitting around
idle for a couple of days IMO. the survey is 7 to 10 days
so it would significantly increase costs. The Vessel is
a 10 min drive from the Airport. The drill site is a 10 hour
cruise from port so plenty of rest before work starts. Flight
time from Paris is 5 hours. Time difference of only 1 hours
will mean no jet lag !! That's my reasoning here.

Correct Air France is the only regular flight into Douala.
Highly paid technical staff would not be sitting around
idle for a couple of days IMO. the survey is 7 to 10 days
so it would significantly increase costs. The Vessel is
a 10 min drive from the Airport. The drill site is a 10 hour
cruise from port so plenty of rest before work starts. Flight
time from Paris is 5 hours. Time difference of only 1 hours
will mean no jet lag !! That's my reasoning here.

lands at 5pm local.
crew expected soon

best explanation I can arrive at is.
the 2 4m trades in the morning were buys
A total of 8m shares seems to have been sold
but later cancelled.
Net result 8m shares purchased in the market.

touched down at 17:03 local time.
This was the only flight in today
from Europe. The ship is a 10min
from the airport.

you might be correct T.
If you click on the Investigator and select past track the ship seems to have moved around
a lot. Perhaps some sort of testing. Now moored along side 3 other ships, on the edge of the group
(i.e. could be next to leave) Next high tide is at 3.00am (2am here) then 3.40pm tomorrow afternoon.
Perhaps technical crew have arrived and are now onboard testing.
Cannot be bothered to check arrivals at Douala International Airport right now. However it
may be a clue depending on frequency of flights from Europe (France in particular)

Status changed to Moored but still out in the shipping lane.
Grrrrrrr. will keep an eye on it.

https://www.marinetraffic.com/en/ais/home/centerx:9.675/centery:4.013/zoom:14

on previous 2 or 3 manoeuvres the status has always been stopped or moored.
The ship manoeuvred out from the key again but this time the status has changed
to underway. looks like someone knew the ship was leaving port in advance and has been
buying some. Its currently high tide at the moment so we should know in the next hour
or so if it is yet another false alarm and the buying interest is coincidental or not!!!
Exiciting. GLA OMM

was lucky enough to score a direct hit with Rockfire before Christmas.
Didn't go mad and put all my profit in here.
I am on £4500 per 0.1p movement here
holding 4,500,000 shares. Bit of a no brainer really.
If any newbies want to know why just say. OMM

nm

Agreed weird.
However there seems to be a few buyers around today which IMO
bodes well, particularly on a bad day in the markets. The fact that
TRP is climbing indicates that markets have taken on board the nature
of Tower's crude reserves in Cameroon. i.e that the upcoming drill will
move our oil from contingent reserves to proven reserves.
Farm out is the key.
The last operational step before the drill, the survey, is about to commence
any day now. Asher mush have a farm out partner lined up here ,hence his
aggressive positioning with a 27% stake bought with his own cash. Pegasus Petroleum
Ltd (Asher) have also provided $1m of loan finance to Tower which is secured against
the 100% owned Thali license.
Asher is no stranger to taking on personal risk in his own projects.
In 1989, he and a partner acquired the Beta oil refinery in Wilhelmshaven,
West Germany, which he developed as one of its managing directors
and subsequently sold.

the mystery 1m trades do not appear on other sites.
Probably an advfn internal correction. Are you sure
one of the trades didn't have a small minus sign.

Iran can still cause a lot of disruption in the Hormuz Strait without making themselves a big target.
Stealth attacks on Tankers by assailants unknown would be difficult for the US to counter with force. I think oil will go on a run as soon as tankers start getting damaged.

The vessel came a distance of 500 miles from Nigeria to the Cameroon a couple of weeks before Xmas. Probably been on a skeleton crew since then to move the ship when necessary.
I am expecting the survey to start this week with the technical staff arriving into Douala International Airport which is a 10 minute drive away from the AMT oil base where our ship is
moored ready and waiting. GLA

according to the Geoquip website the Investigator used a 4 point mooring system and not directional thrusters. Perhaps they are weather dependent? Or could just be that the European
Geo Engineers who will conduct the survey required their well learnt xmas holiday.
GLA it shouldn't be long. Well worth the wait!!