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https://www.towerresources.co.uk/wp-content/uploads/2018/09/P253NewAgeSouthAfricaRegionalMap17-9-18.jpg

so similar to the big discoveries to the west..............

0.5p today AM I SEEING THAT RIGHT???

Im in for few G

liking this chart formation........... farm out and in particular interest is Aloa Gamtoos! Total massive gas find is right next door.

As previously disclosed, the Company is expecting to receive an updated interpretation of prospectivity on the Algoa-Gamtoos license, offshore South Africa, based on further reprocessing of existing 2D seismic data, from the operator, NewAge, in the near future. The Algoa-Gamtoos license is immediately adjacent to Total's blocks 11B/12B where Total's Brulpadda and Luiperd discovery wells were drilled approximately 150 kms to the East, in the same Outeniqua basin that passes through the deep-water section of the Algoa Gamtoos license. Last year NewAge identified a substantial Deep Albian prospect in this deep-water section of the Algoa Gamtoos license, and on the basis of the data then available, they estimated this prospect to contain 364 million barrels of un

14 January 2021

Tower Resources plc

Fundraising Update

Placing to raise £1.25 million

Planned repayment and termination of Shard Merchant Capital Loan Facility

Appointment of Joint Broker

Tower Resources plc (the "Company" or "Tower" (TRP.L, TRP LN)), the AIM listed oil and gas company with its focus on Africa, is pleased to provide the following update on its fundraising activity in respect of its assets in Cameroon and South Africa, and to announce that it has raised £1.25 million at the topco level via a placing of 384,615,384 new ordinary shares of 0.001p each (the "Placing Shares") at a price of 0.325 pence per Placing Share, with each placee receiving 1 warrant exercisable for two years at 0.65 pence per share for every 3 shares subscribed (the "Placing")

Monecor (London) Ltd, trading as ETX Capital ("ETX Capital"), has acted as sole broker of this placing and will serve as Joint Broker to the Company going forward.

The Company will use the proceeds of the placing to terminate and repay the US$500,000 loan facility from Shard Merchant Capital Ltd when or before it falls due on 28 February 2021, without triggering the conversion options in the facility agreement, and to cover working capital requirements going forward, including:

· Contributing towards the cost of the seismic reprocessing and interpretation being undertaken by the Company's partner and license operator, NewAge Energy Algoa (Pty) Ltd ("NewAge"), in respect of the Algoa-Gamtoos license in South Africa;

· Funding maintenance expenditure in Cameroon to maintain the long-lead items inventory ready for the commencement of drilling and testing of the NJOM-3 well on the Thali license;

· General working capital purposes.

The Company is already in discussion with Pegasus Petroleum Ltd (whose ultimate beneficial owner is the Company's Chairman and CEO, Jeremy Asher) regarding a further extension of the US$750,000 Pegasus Loan Facility which also becomes due on 28 February 2021.

The Company is continuing discussions with potential farm-out partners for its Thali license in Cameroon, including OilLR and several others, and hopes to have a more substantial announcement to make in due course.

As previously disclosed, the Company is expecting to receive an updated interpretation of prospectivity on the Algoa-Gamtoos license, offshore South Africa, based on further reprocessing of existing 2D seismic data, from the operator, NewAge, in the near future. The Algoa-Gamtoos license is immediately adjacent to Total's blocks 11B/12B where Total's Brulpadda and Luiperd discovery wells were drilled approximately 150 kms to the East, in the same Outeniqua basin that passes through the deep-water section of the Algoa Gamtoos license. Last year NewAge identified a substantial Deep Albian prospect in this deep-water section of the Algoa Gamtoos license, and on the basis of the data then available, they estimated this prospect to contain 364 million barrels of un

yep big volume and a lot big buys

Hydrogen power ................ cheaper to buy this and change over to Hydrogen than ITM

good friend who knows Glastonbury well says there is a serious likelihood Glastonbury may never return!

AIM takeover rules i remember reading somewhere the takeover should be 3 or 4 times previous 6 months? can anyone find that in AIM takeover rules?

wait for the 2pm trades when USA reddit crew run with this expect massive short squeeze!

Slovenia has to settle minimum 25 million Euros!

reddit crew where ru

market cap £29 million bargain should be £50 million

or even 200% HOLD

think will crack 40p

expect settlment within days lets see if dips im in

100% Slovenia will settle before court 25 million Euros IMO = 26p

Direct Settlement Negotiations

The Company confirms it remains in direct negotiations with the Republic of Slovenia with a view to potentially settling the claim in an amicable manner in the short term, as previously announced on 22 October 2020. All such negotiations are being carried out on a strictly confidential, without prejudice and privileged basis. The Company will provide further updates as appropriate.

im not even invested YET

this looks fantastic going forwards in old money barely off record lows!

even half that say 25 million euros settlement = 26p

We estimate the claim value to be in excess of 50m euros + costs and interest.

The = Share price of 50p!

pause then next leg up 18p today possible