Member Info for Southmead

So many green boxes this morning, the trolls must have been busy last night, scurrying away in the dark, ha ha.

Tower will be in receipt of US$17.5M in cash on completion of both the Thali and PEL96 farm-out agreements.

Phase 1 production from NJOM-3 estimated at 90% COS, 8000bopd x 365 days x $60= $190m pa. Phase 2 drilling into the Dissoni & Ideneao prospects with pmean recoverable of 111.3mmbbls might double these numbers. So NJOM-3, even at $60pb is a very valuable asset. In addition we also have Namibia and Walvis Bay. There is no doubt that Tower is worth many times more than the current £10m market cap and we are very close to seeing an SP explosion. Boom!!

Wonderful news, the financials continue to strengthen and the cash runway gets longer, while we wait for the truly transformational news on any of the deodorant tech, Alzheimer's diagnostics, or fibrotic liver therapy projects. Gets better and better. Well done Tolley's team at Aptamer.

Tower will be in receipt of US$17.5M in cash on completion of both the Thali and PEL96 farm-out agreements.

Phase 1 production from NJOM-3 estimated at 90% COS, 8000bopd x 365 days x $60= $190m pa. Phase 2 drilling into the Dissoni & Ideneao prospects with pmean recoverable of 111.3mmbbls might double these numbers. So NJOM-3, even at $60pb is a very valuable asset. In addition we also have Namibia and Walvis Bay.

There is no doubt that Tower is worth many times more than the current £10m market cap and we are very close to seeing an SP explosion. Boom!!

Far too many green boxes.

What matters is that Tower will be in receipt of US$17.5M in cash on completion of both the Thali and PEL96 farm-out agreements.

Phase 1 production from NJOM-3 estimated at 90% COS, 8000bopd x 365 days x $60= $190m pa. Phase 2 drilling into the Dissoni & Ideneao prospects with pmean recoverable of 111.3mmbbls might double these numbers. So NJOM-3, even at $60pb is a very valuable asset. In addition we also have Namibia and Walvis Bay. There is no doubt that Tower is worth many times more than the current £10m market cap and we are very close to seeing an SP explosion. Boom!!

Too many green boxes.

What matters is that Tower will be in receipt of US$17.5M in cash on completion of both the Thali and PEL96 farm-out agreements.

Phase 1 production from NJOM-3 estimated at 90% COS, 8000bopd x 365 days x $60= $190m pa. Phase 2 drilling into the Dissoni & Ideneao prospects with pmean recoverable of 111.3mmbbls might double these numbers. So NJOM-3, even at $60pb is a very valuable asset. In addition we also have Namibia and Walvis Bay.

There is no doubt that Tower is worth many times more than the current £10m market cap and we are very close to seeing an SP explosion. Boom!!

Tower will be in receipt of US$17.5M in cash on completion of both the Thali and PEL96 farm-out agreements.

Phase 1 production from NJOM-3 estimated at 90% COS, 8000bopd x 365 days x $60= $190m pa. Phase 2 drilling into the Dissoni & Ideneao prospects with pmean recoverable of 111.3mmbbls might double these numbers. So NJOM-3, even at $60pb is a very valuable asset. In addition we also have Namibia and Walvis Bay.

There is no doubt that Tower is worth many times more than the current £10m market cap and we are very close to seeing an SP explosion. Boom!!

Ignore the noise from the green boxes and remember what we have here.

We have two farm-out agreements with Prime Global Energies for minority, non-operated interests in its Thali license, offshore Cameroon, and PEL96 offshore Namibia. Prime is a UK-incorporated company with enormous assets.

· Prime will acquire a 42.5% non-operated interest in the Thali license, in return for a US$15,000,000 contribution to the Thali work programme costs;

· Prime is also acquiring a 25% non-operated interest in PEL96, offshore Namibia, with Tower receiving US$2,500,000 cash on completion

·Tower will be in receipt of a total of US$4,375,000 in cash on completion of both the Thali and PEL96 farm-out agreements.

JA says, ''We have received a copy of the Prime Minister's instruction to MINMIDT to approve both a one-year extension to the initial exploration period of our Thali license and also the farm-out of a 42.5% interest in the license to Prime Global. The President has also approved this and the instruction is now being relayed back to MINMIDT.'

Any day now.

Ignore the noise from the green boxes and remember what we have here.

We have two farm-out agreements with Prime Global Energies for minority, non-operated interests in its Thali license, offshore Cameroon, and PEL96 offshore Namibia. Prime is a UK-incorporated company with enormous assets.

· Prime will acquire a 42.5% non-operated interest in the Thali license, in return for a US$15,000,000 contribution to the Thali work programme costs;

· Prime is also acquiring a 25% non-operated interest in PEL96, offshore Namibia, with Tower receiving US$2,500,000 cash on completion

·Tower will be in receipt of a total of US$4,375,000 in cash on completion of both the Thali and PEL96 farm-out agreements.

JA says, ''We have received a copy of the Prime Minister's instruction to MINMIDT to approve both a one-year extension to the initial exploration period of our Thali license and also the farm-out of a 42.5% interest in the license to Prime Global. The President has also approved this and the instruction is now being relayed back to MINMIDT.'

Any day now.

Https://norton.1news.io/news/20397128a5f9ce6ea9e5dd86254ba216?utm_source=norton

That would be you, then!!

The last lot of presidential decrees published were dated 11th September. Since then, the presidential election has frozen any further publications. It is normal for Cameroon government publications to slow down or pause until the results are declared. This includes the issuance of new decrees. It's a time of transition, and the focus is often on the electoral process. So, the current situation in Cameroon isn't unusual in this context. Once the electoral issues are resolved, there will be a release of decree publications, potentially in a significant batch.

https://www.prc.cm/en/news/the-acts/decrees

The farm out includes Namibia of course, 'Prime has also agreed to farm-in to PEL96, offshore Namibia, for a 25% non-operated interest. As explained below, as part of these arrangements, Tower will also receive further payments including US$937,500 in cash immediately and a further US$3,437,500 cash on completion of the two farm-out agreements, for a total of US$4,375,000 in cash.'

The approval, when it comes unleashes several value adding scenarios. On receipt of the published presidential decree, the SP is forecast to increase to .0017p, 4 times what it is today!!!!

And that's just Cameroon, Tradedesk, there's Namibia and South Africa on top of that.

Excellent tradedesk, great quality info. Thanks again.

Announcement any day now then.

Thanks for that Tradedesk, that info is massively helpful.

Post i posted earlier predator. The issue here is we have had big delays in getting presidential sign off for our farm outs. With the presidential campagin coming to an end in cameroon things are looking promosing for sign off in the ST.

If our farm-out agreements receive final approval, the company will receive an immediate cash injection of roughly US $4.4 million, with a further US $15 million to fund the Thali work programme in Cameroon. Meaning the wells could be fully derisked if a commercial spud is achieved.

A separate US $2.5 million payment relates to the Namibia PEL96 licence.

Cash alone from the deal would therefore equate to around 35–40 percent of the entire company’s market value, while the full US $17.5 million funding package (cash plus work programme costs) exceeds the current market cap.

According to Trps June 2024 corporate presentation, the base-case post-tax NPV10 for the Njonji development (Thali licence) is approximately US $300 million at a Brent oil price of US $75 per barrel, assuming an initial production rate of 6,000 to 10,000 bbl/d. Following the 42.5 percent farmout, TRP will retain 57.5 percent of the licence. On that basis, Trp share of the NPV is roughly US $172 million (57.5 % * US $300 m).

If we apply a substantial risk discount — say 60 percent to reflect exploration, regulatory, and execution uncertainty — the risked NPV would be about US $70 million, equivalent to roughly £55 million at current exchange rates. Even at a more conservative 75 percent risk discount, Tower’s implied value would still be near £30–35 million, which is roughly three to six times higher than its present market capitalisation.

This is just looking at our cameroon asset not factoring in SA and namibia.

Vol Sold 95,028,402

Vol Bought 1,628,447,064

Extraordinary share trading volume today, 151 trades and only 122 chat entries. This must be good. Normally more chat than trade.

I half expected an RNS this evening but I will be up early tomorrow to read the RNS in the morning.

Will it be Cameroon or Namibia or both?

An excellent volume of shares traded so far today, and hours to go yet.

Vol Sold 75,011,735

Vol Bought 656,539,557

10 x more bought than sold suggests a very optimistic sentiment and implies imminent RNS announcement. Lets hope so and maybe a late afternoon news release.

'There is no doubt that Tower is in a very exciting place right now and the company must be desperate for the various approvals could go through, how you say, expeditiously…

Accordingly investors are, in my view, rather fortunate to have been given the opportunity to grab a piece of the equity at a more than generous 15% discount with the added bonus of some warrants attached.

Never say never but this might be the last before Tower move into action and prepare to drill in Cameroon and continue work in Namibia where approval has been made. Patient shareholders will I think be rewarded and the clock is ticking and as Jeremy Asher says, at an exciting and active time for Tower.

'There is no doubt that Tower is in a very exciting place right now and the company must be desperate for the various approvals could go through, how you say, expeditiously…

Accordingly investors are, in my view, rather fortunate to have been given the opportunity to grab a piece of the equity at a more than generous 15% discount with the added bonus of some warrants attached.

Never say never but this might be the last before Tower move into action and prepare to drill in Cameroon and continue work in Namibia where approval has been made. Patient shareholders will I think be rewarded and the clock is ticking and as Jeremy Asher says, at an exciting and active time for Tower.