Finally Some Progress of Substance16 Mar 2026 07:47
"Tower Resources Chairman & CEO, Jeremy Asher, commented:
"We are very pleased to be approaching the end of the process to receive our farm-out approvals, lengthy as it has been. We had wanted to have these concluded before the repayment date of the Bridge Loan, and it is possible that the documentation of one or both approvals may indeed be in hand by then, but we did not want to allow the potential repayment date to loom too close.
"We are still looking forward to drilling the NJOM-3 well in Cameroon as soon as possible this year, ideally in Q3, but, as usual, this will depend on rig schedules. We will update investors both when the formal documentation has been received and also when we have finalised the rig schedule together with our partners and SNH. We are also working with Prime on an application for a further block in Cameroon during the current license round, and we are continuing to work on further data acquisition on PEL96.
"We look forward to having more to say about these initiatives soon."