Member Info for Southmead

Ignore the Noise.

'Tower has announced two transformational farm-out agreements with Prime

International for the Thali (Cameroon) and the PEL96 (Namibia) offshore licences.

We update our financial forecasts and NAV for the proposed farm-out agreements and

reiterate our SPECULATIVE BUY rating with an updated 0.16p/share target price.

Tower agrees farm-out of Cameroon and Namibia licences to Prime

Tower announced that it has executed two farm-out agreements with Prime Global

Energies for minority, non-operated interests in the offshore Cameroon Thali licence

and the offshore Namibia PEL96 licence. The agreements provide $15m funding to drill

the NJOM-3 appraisal well, alongside ~$4.4m in cash payments to Tower and Pegasus

at execution and completion that will ultimately contribute significantly to the

Company’s current working capital position. Completion of both farm-out agreements

is expected by end-1Q25 subject to government, partner and regulatory consents.

Cameroon farm-out agreement provides funding to drill appraisal well

Tower will farm-down a 42.5% non-operated interest in the Thali licence (100% WI) to

Prime in return for a $15m gross contribution to the Thali work programme costs.

Prime will also make two ~£1.5m payments to Pegasus at execution and completion

of the agreement as consideration for funding previously provided. Pegasus (a trust of

which the CEO Jeremy Asher is a lifetime beneficiary) will be using 50% of the cash

payments to subscribe for additional new shares in Tower, half of which will be locked

in for a year, which will increase the CEO’s direct shareholding to 25.33%.

Prime is an attractive and credible counterparty with a strong balance sheet

Prime Global Energies is a wholly owned subsidiary of Prime International Oil & Gas

(private), which has a long legacy spanning over 3 decades of successful exploration &

production activities in Pakistan. Prime operates multiple producing fields including

the Bhit, Badhra and Kadanwari gas fields, as well as non-operated interests in several

fields and gas processing facilities (link). Prime recently filed an annual report for the

year ended 30 June 2024 at the UK’s Companies House reporting $33m in revenues,

$24.8m profit and $43.2m of cash on its balance sheet at the end of the period.'

Coming soon

It is very amusing to see all the green boxes of those Filtered.

I can just imagine the reranged rants, the red-faced rage and indignation of these non-invested hate merchants.

Just ignore them, filter them, as I and others have done. I promise, it will turn a painful, tedious feature into an amusing one.

You too can have a smile when you see all the green boxes, :)

Good share trading volume today. Vol Sold 151,838,417 Vol Bought 642,752,587.

Just shows how much interest there is in this share when there is news and a bargain to be had. Investors can see the value in this share. Approval of the Licenses and rubber stamping by the Cameroon President and then details on the NJOM-3 drill and this share will go into orbit. No excuses here, it has been well signposted, everybody knows, so you are either in and benefit from the surge or you are out and holding your head.

'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.

'"This is an exciting and very active period for us. Our understanding remains that documentation of our various approvals in Cameroon and Namibia is proceeding as previously disclosed. However, we need to maintain readiness for drilling in Cameroon in Q1 2026, and we also need to keep our work programme on track in Namibia, where our entry to the First Renewal Period has already been approved. Therefore, we have decided that a small capital raise at this time will aid in supporting these goals and our overall schedule, pending the receipt of farm-out funds."

Would we prefer another loan? No I think not and he says it again, ' documentation of our various approvals in Cameroon and Namibia is proceeding as previously disclosed'.

This really will test the patience of some and they will sell, the SP will go done to .00028 and those chancers waiting will pile in. The documentation will arrive soon.

Ignore the Noise.

'Tower has announced two transformational farm-out agreements with Prime

International for the Thali (Cameroon) and the PEL96 (Namibia) offshore licences.

We update our financial forecasts and NAV for the proposed farm-out agreements and

reiterate our SPECULATIVE BUY rating with an updated 0.16p/share target price.

Tower agrees farm-out of Cameroon and Namibia licences to Prime

Tower announced that it has executed two farm-out agreements with Prime Global

Energies for minority, non-operated interests in the offshore Cameroon Thali licence

and the offshore Namibia PEL96 licence. The agreements provide $15m funding to drill

the NJOM-3 appraisal well, alongside ~$4.4m in cash payments to Tower and Pegasus

at execution and completion that will ultimately contribute significantly to the

Company’s current working capital position. Completion of both farm-out agreements

is expected by end-1Q25 subject to government, partner and regulatory consents.

Cameroon farm-out agreement provides funding to drill appraisal well

Tower will farm-down a 42.5% non-operated interest in the Thali licence (100% WI) to

Prime in return for a $15m gross contribution to the Thali work programme costs.

Prime will also make two ~£1.5m payments to Pegasus at execution and completion

of the agreement as consideration for funding previously provided. Pegasus (a trust of

which the CEO Jeremy Asher is a lifetime beneficiary) will be using 50% of the cash

payments to subscribe for additional new shares in Tower, half of which will be locked

in for a year, which will increase the CEO’s direct shareholding to 25.33%.

Prime is an attractive and credible counterparty with a strong balance sheet

Prime Global Energies is a wholly owned subsidiary of Prime International Oil & Gas

(private), which has a long legacy spanning over 3 decades of successful exploration &

production activities in Pakistan. Prime operates multiple producing fields including

the Bhit, Badhra and Kadanwari gas fields, as well as non-operated interests in several

fields and gas processing facilities (link). Prime recently filed an annual report for the

year ended 30 June 2024 at the UK’s Companies House reporting $33m in revenues,

$24.8m profit and $43.2m of cash on its balance sheet at the end of the period.'

Coming soon

PetroTal has provided the following operational and financial updates. All amounts are in US dollars unless stated otherwise.

Key Highlights

Group production averaged 18,414 barrels of oil per day (“bopd”) in Q3 2025, a 21% increase over Q3 2024;

2025 YTD production has averaged 20,894 bopd, also a 21% increase over the first nine months of 2024;

Paid a regular quarterly dividend of $0.015 per share on September 12, bringing YTD returns of capital to shareholders to approximately $45 million;

Total cash of $141.5 million as of September 30, 2025, of which $108.8 million is unrestricted.

Manuel Pablo Zuniga-Pflucker, President and Chief Executive Officer, commented:

“PetroTal’s preliminary Q3 results show that the Company continues to deliver steady YoY production growth, even though the Bretana field has been producing below capacity for a substantial portion of the third quarter. I am confident that our technical team has addressed the root cause of the previously disclosed leaks in our production tubing and am pleased to report that a service rig is already back on site, preparing to replace the faulty tubing. We look forward to providing additional updates on our development program with the release of our full Q3 2025 financials on November 13.”

'Despite the modest fall in production, which was flagged in recent announcements, the work is underway to replace the root cause of the problem and I am confident that it will be solved in short order. The company remains financially very strong with the ability to continue its shareholder payouts and accordingly remain very cheap and remain a favourite in the Bucket List and a Target Price of 100p.'

Cameroon has a history of opposition candidates claiming victory before official results are announced:

🗳️ 2018 Presidential Election

- Maurice Kamto, leader of the Cameroon Renaissance Movement (MRC), declared himself the winner just one day after the vote.

- He stated: “I have received a clear mandate from the people and I intend to defend it.”

- The government condemned his declaration as illegal, emphasizing that only the Constitutional Council could announce results.

- Kamto was later arrested, and protests by his supporters were dispersed with tear gas and water cannons.

Https://norton.1news.io/news/9e453b0c5be9343981b38094a2965bee?utm_source=norton

Ignore the Noise.

'Tower has announced two transformational farm-out agreements with Prime

International for the Thali (Cameroon) and the PEL96 (Namibia) offshore licences.

We update our financial forecasts and NAV for the proposed farm-out agreements and

reiterate our SPECULATIVE BUY rating with an updated 0.16p/share target price.

Tower agrees farm-out of Cameroon and Namibia licences to Prime

Tower announced that it has executed two farm-out agreements with Prime Global

Energies for minority, non-operated interests in the offshore Cameroon Thali licence

and the offshore Namibia PEL96 licence. The agreements provide $15m funding to drill

the NJOM-3 appraisal well, alongside ~$4.4m in cash payments to Tower and Pegasus

at execution and completion that will ultimately contribute significantly to the

Company’s current working capital position. Completion of both farm-out agreements

is expected by end-1Q25 subject to government, partner and regulatory consents.

Cameroon farm-out agreement provides funding to drill appraisal well

Tower will farm-down a 42.5% non-operated interest in the Thali licence (100% WI) to

Prime in return for a $15m gross contribution to the Thali work programme costs.

Prime will also make two ~£1.5m payments to Pegasus at execution and completion

of the agreement as consideration for funding previously provided. Pegasus (a trust of

which the CEO Jeremy Asher is a lifetime beneficiary) will be using 50% of the cash

payments to subscribe for additional new shares in Tower, half of which will be locked

in for a year, which will increase the CEO’s direct shareholding to 25.33%.

Prime is an attractive and credible counterparty with a strong balance sheet

Prime Global Energies is a wholly owned subsidiary of Prime International Oil & Gas

(private), which has a long legacy spanning over 3 decades of successful exploration &

production activities in Pakistan. Prime operates multiple producing fields including

the Bhit, Badhra and Kadanwari gas fields, as well as non-operated interests in several

fields and gas processing facilities (link). Prime recently filed an annual report for the

year ended 30 June 2024 at the UK’s Companies House reporting $33m in revenues,

$24.8m profit and $43.2m of cash on its balance sheet at the end of the period.'

Coming soon

All of the conditions precedent have been met and the agreements have been approved by the Prime Minister. It just needs the signature of the president and its all systems go. NJOM-3 drilled in early 2026 and oil sold to finance further drills and development in Namibia.

Cameroon held its presidential election today, with the 92-year-old incumbent, Paul Biya, seeking an eighth term. Despite an energized opposition, he's expected to maintain his 43-year grip on power. Hopefully, he will sign our agreement on Monday and off we go.

Https://youtu.be/v_mnMkk9oQo?si=uqnQ76tPs6_ZENw0

A further thought, wouldn't it be nice if your screen actually showed a count of the number of members that had filtered you, LOL

Actually, when you do filter them and green boxes appear one after the other, it really is quite amusing to imagine their ridiculous, inane rants and comments and no one can see or read it, LOL

Yes, is the answer, Aptamer certainly does have legs to go a lot further. With another meaningful cash earning deal under its belt, Aptamers cash runway has been extended well into next year, giving plenty of time for the Astrazeneca project to come to a head and pay off big time. This quote from Ian Lyall at ProActive says it all, 'Alongside the new contract, the group reported a strong start to its financial year, securing an additional £665,000 in new agreements, including £315,000 of smaller deals and project extensions. Together with contracts carried over from last year, this gives the York-based firm about £1.03 million in total contract value for the current period, with nine months of the year remaining. Aptamer said its sales pipeline remains “robust” at £3.4 million in fee-for-service opportunities, suggesting further deal flow in the months ahead.'

Joshua Thompson said, 'The big levers now are approvals, the Ore Purchase Agreement and continued drilling to tighten the model.'

So where are we with the Ore Purchase Agreement?.

There are several mills that may be in contention, Paddington Mill which is only 35km away must be the favourite to my mind, followed by possibly, Kanowna Belle mill, which is operated by Northern Star. Both of these mills are believed to have spare capacity and they would both be keen to get their hands on Oracle's oxide which has shown 92% recovery rates. I can't see whether MEGA Resources or BGR Pty have an existing relationship with either.

If anyone can add anything to this, please contribute as this agreement is a critical milestone in this process.

The CPR was excellent, we all agree on that and so, it is a little disappointing that the share price has not moved up as a result. However, the RNS does make it clear that the BOD see the CPR as a stepping stone to accelerate the development of Paradox by inviting farm out partners. Lets hope that the process finds a high quality partner like EOG for instance. EOG has great expertise in horizontal drilling & hydraulic fracturing expertise. The CPR points to there being a "Premium drilling” and this will be very attractive to EOG. This could be right up their street and if they are declared, I am sure that the SP will rise big time.

Can you post a link to the SP Angel report or post it please

Use your filter to get rid of the rubbish spouted by some and this board becomes much more pleasant and informative