Member Info for Thenorseman

Dicko80

Why do you think Tower will need to farm down to 25%?

N

Try this:

https://www.towerresources.co.uk/contact-us/

Jeremy is normally good at getting back

Just topped up btw. Now I am the proud owner of a ridiculous high (round) number of an even more ridiculously low valued shares in TRP!

Come on Jeremy, get that rig contract signed!

GLA

N

From the RESERVES/RESOURCES REPORT & VALUATION OF TOWER RESOURCES’ CAMEROON ASSETS

https://www.towerresources.co.uk/wp-content/uploads/2020/03/Summary-Reserves-Resources-Valuation-Report-Tower-Resources-Cameroon-Assets-Effective-Date-10th-March-2020-Publication-date-12th-March-2020-Final.pdf

“Upon Contractor’s submission of a development plan for an Exploitation Authorisation, the State shall notify Contractor within 60 days whether it is exercising its right to a paying participation in the development of a minimum of 5% and maximum of 25% share. The State will contribute its participating share of all future costs excluding bonuses and training fees itemised below).

Tower has advised us to assume the State will exercise its rights in full and take a 25% share.“

The state will obviously have to pay their share of the development costs equal to the % they choose to take (if any at all).

All

The point Professor Happer is making is that even if we double the CO2 concentration in air from todays 400ppm to 800 ppm the temperature increase from CO2 increase is only 0.71 deg which can be calculated and has been verified. The climate mob add all sorts of extra multipliers (due to increased water vapour because of the 0.71 deg etc) to get a higher number to make the whole thing more sexy, justifying their jobs/needs/own interest and has little to do with science

Well worth the 46 minutes!

Highly recommended for those of you who yet have not understood the so called climate emergency is not that at all!

https://youtu.be/v2nhssPW77I?si=30XeoOVxI-Fa3VRj

I think the latest presentation contains some very good news:

-Phoenix High(NEW) fairway on extensive migration pathways from large fetch area

-Alpha Prospect on highly focused migration pathway from large fetch area

- Stratigraphic trapping against major regional highs now of interest, in particular along identified migration pathways.

- explanation on why only residual oil in Norsk Hydro well

SP71

Tx. Hopefully a copy of presentations etc will be made available on Towers web site for us to enjoy :)

Yes…Main share holder had 9% from before so gets an additional 44% for his £102 million. Say the others get 22%, that leaves the remaining existing holders with 100-53-22=25%

So diluted 5.9 times?

Last post for Tombi1 j

“Your posts are getting more desperate , I repeat go out do something useful in your life instead of sitting in front of a computer desperately trying to downside a company you have no interest in it really is disturbing”

Your own words some time ago in another forum (MAST aug 29th).

You really are a strange person!

Now armed with the recent results from the basin modelling and oil seep analysis we just might lure one of the majors to farm into our Namibian license already, although the work on identifying leads (structural and in particular stratigraphic) will only finish in a few months.

Just topped up this morning.

Agree this relentless selling is weird as the seller must be selling at a loss considering we are (approx) at an all time low. However the volume sold is low so probably just some PIs offloading thinking grass is greener elsewhere at the moment.

GLA

N

Http://envoi.co.uk/projects/active-projects/africa/cameroon/

….I agree with your thinking that EECP must be sensing something is about to happen:)

Pepsi3 remember that since the original agreement Tower decided they urgently needed a lot of money (to help convincing Cameroon they are serious with regard to Thali licence) and executed a placing effectively more than doubling the number of shares in issue.

It will be subject to licence renewal as I understand. Contract first license after.

Passiton the contract with the rig company will be firm but with a wide range for when the rig will be made available subject to finishing operations with current customer

I am still convinced the Borr Drilling Norve jack up rig is the rig we are negotiating. It’s currently in Gabon drilling for BW Offshore so not far away or expensive to move to our licence.

We should know very soon.

Some news from August below.

——-

“Norwegian jack-up rig owner Borr Drilling has secured contract extensions for its Norve and Prospector 1 jack-up drilling rigs.

The first extension was awarded by BW Energy and will see the Norve rig carry on its work offshore Gabon.

The rig has been with BW Energy for some time now and the current deal for the rig was agreed in December 2021. It started in December 2022 and the initial deal was for four firm wells. It was set to work for BW Energy for 240 days.

The contract was set to keep the 2011-built premium rig busy until November 2023. This latest extension for the jack-up will keep the rig with BW Energy until January 2024. The company still has options to extend the deal.”

https://splash247.com/borr-drilling-wins-pair-of-jack-up-contract-extensions/