Member Info for Polyboy

Https://piogcl.com/prime-ceo-kamran-ajmal-mian-secures-high-level-commitments-to-accelerate-strategic-initiative-in-cameroon/

Thanks Mike

Good to finally get some clarity on the Cameroon meetings that took place and all sounding very positive from Primes perspective. News soon.

Unfortunately not instead an appearance by the not shy, once retired (until he papped all his retirement money into TRP at the wrong time), non lesser spotted FUBAR

There is no requirement for a rig contract or indeed a named rig as part of the extension application but having one in place with known rig availability can only be viewed by Cameroon Government/ MINMIDT as a real positive when assessing the extension.

On Admarine 501 being for us, it is currently being readied to be towed to Luba and set for an arrival at an as yet unnamed location on the 1st Jan 2026. I am pretty sure this location will be Addax's drill location in Cameroon as they have the approvals and the firm stated rig slot booked with ADES for tail end of Q4 2025 on a fixed 1 year contract so this is not the rig for us.

That will leave us with a possible choice of the other two ADES rigs available locally SD Victory or High Island II for a Q1 2026 drill if the approval lands this month and nothing changes in regard to these rigs availability.

Yes todays cleansing notice is hopefully a precursor to imminent material news.

I also think that JA's trip to Cameroon was to grease the wheels and get a firm timescale rather than some ceremonial signing. I also think the fact he didnt provide an RNS update on his return is a good sign as it hints at no changes to previous issued updates, no further unexpected delays or issues that the market would need to know of and also hints that the expected sign off is too close to provide a formal update prior to it being announced. gla

Ades and Shelf Drilling merger set to conclude tomorrow...paving the way for a firm rig contract update once approval lands.

https://www.argaam.com/en/article/articledetail/id/1860099

Checked back to the 2018 election and there were over 200 decrees issues in the month following that versus the norm of 40-60 per month. The election definitely halts normal business but looks like it should be quickly made up for. gla

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Heavy lift vessel Seaway Falcon due to arrive in Luba Nov 13th... we are 1 days wet tow away and Addax are 2 days wet tow away from Luba. Maybe ADES are taking no risks with a wet tow after their rig Admarine 12 capsized on one back in July in the Gulf of Suez.

Maybe all the staff in MINMIDT building their own positions before they stick a stamp on the letter and post it 😂

Tomorrow is the 9 month anniversary of our Transformational Farm Out RNS and also of our formal application to the Cameroon Government for farm out and extension approval. 9 months is also the exact timescale it took our previous application for an extension to finally be granted formally by MINMIDT.

Here's hoping timescales are consistent. gla 🤞

Luba is a hub for two companies ships (Hermes and Swire) both supply vessels and anchor handling tugs. Possible that a couple of these ahts will be involved in any rig tow but none have been near the rigs as yet. They have come and gone over the last 3-4 months serving existing oil fields in the area. Two are docked there now. There has only been one vessel that has physically docked with the SD Victory for 3-4 days some 6 weeks ago when everyone was still watching Admarine and it was a supply vessel under a Nigerian flag.

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Here is the substance, as this is not a pump it is a long overdue rerate.

As of this morning Towers market cap was circa £7.4m...totally undervalued... currently the market cap is still only £10.3m...still totally undervalued.

At current levels we are going to have more cash in our bank in the coming weeks than the market cap.

Upon receipt of the Cameroon approval which could drop any day now we will receive $16,875,00 from our farm in partners that kick starts a 3-4 month process before drilling a 80-90% cos well with an expected 18MMbbls in it with rig sorted. Once its commerciality is tested and confirmed we expect to drill 3 more wells in the same location to add a further 20MMbbls contingent to this total and start early production maybe as soon as summer 2026. 38MMbbls is currently worth £2.28 billion and the profit income from this will turbo charge this companies exploration on multiple other areas including Namibia and South Africa acreages but especially in Cameroon where the Dissoni South/ Idenao fields are estimated alone to hold 111MMbbls contingent with Perenco already successfully commercially drilling the linked field of Dissoni North which is small in comparison with only 25MMbbls.

Add to this the further $2,500,000 million upon Namibian farm out approval due later this year and it doesnt take a mathematician to work out the current rise very much has substance and is long overdue.

MINMIDT formal approval due around the end of this week on farm out and extension based on previous government extension approval timescale. All parties approved just awaiting the formal notification from MINMIDT.

This triggers a US$16,875,000 payment to Tower from Prime.

ADES/ SHELF shareholder takeover approval meeting at 4pm today will give us 2 new locally available rig options. Addax has no doubt already picked their rig so potential of our rig confirmation to follow soon after takeover concluded.

Major service contracts almost fully agreed and ready to be signed.

Once all above complete then its time to set the drill date in stone and confirm rig/ service contracts.

While waiting for the drill date the Namibian government approval should be expected around December triggering a further US$2,500,000 to Tower from Prime upon sign off.

All cashed up and ready to drill.

Towers previous May 2023 application for an exploration extension took a full 9 months before approval was received from MINIMDT in early Feb 2025. As stated the current extension and farmout approval application was submitted around the 10th Jan 2025.

9 months forward from this date takes you to the 10th October 2025 or the end of next week.

Lets hope the Cameroon Government are at the very least consistent in their process timescales.

Agree asher7 very interesting few weeks ahead.

Interims due on Mon/ Tues coinciding with the start of AEW at which the South African and Namibian governments are majoring with a Farm Out Forum being held on the Thursday by Moyes & Co/ Farmout Angel/ Envoi all past and present advisors to Tower with JA pencilled in as a speaker at the event. If the Cameroon government desire good exposure and a plug for their new for their licensing rounds next year then the stage is set.

https://aecweek.com/african-farmout-forum-returns-to-aew-in-2025-showcasing-emerging-block-opportunities/

All this followed on by Ades takeover of Shelf the following Monday bringing new rigs into play.

I have always thought a prolific Charlie to been a good investor sign due to his blinkered lack of any foresight. His best quote ever was 5 days before the rns that sent the sp up 590% keeping him quiet for 4 months.

'RE: News soon ? - 25 Sep 2024 12:20 - I agree the future of TRP will look like a company falling down the stairs, hope, bargains and unfortunate events in the RNS.'

Its time for the Money Shot...according to Charlie 😂😂😂

How do you think Charlie got so bitter, just check his history. In 2020/2021 he was all over this share opinion 'Strong Buy' when it was at 0.495. Assume he got in and quickly got his fingers burnt as the share price plummeted from there to 0.018. How much did you lose Charlie or are you still locked in?