The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Suggest emailing TRP and venting. Think it only fair that they hear what shareholders have to say. Yes, it will waste their time to reply and may be they won't care about their optics but them acting in a bubble with poor communication hasn't served the greatest purpose thus far and may give them food for thought. Venting on here appears futile and no reason to believe TRP read sentiments expressed here, valid though these may be, in any case.
I am as pessimistic as they come but am pleased as punch for all shareholders today based on the compelling facts. Onwards and upwards. Well done to all long term shareholders.
Ilovesushi - You are as raw as your name. Perhaps you would like a little oil to light your fire. I happen to know a company, TRP that will be bringing in plenty of it!
Productioncoates - your ONE post based on your feelings is something you can miss us all with. No time for such nonsense as the rest of us are reading the facts. If you have any of those then feel free.
Found the info below for 22 July 21 virtual event so we can what Jeremy Asher has to say. May not be different to anything we already know but worth a listen.
https://www.proactiveinvestors.co.uk/register/event_details/349
JA says, the timing and outcome of negotiations over the NJOM-3 well financing remain unpredictable but then doesn't say why as that would be informing shareholders and being straight.
Not enough expletives to sum up my thoughts about today's RNS. Feel like I need to go to the office myself at this point and negotiate a deal or at least write their RNS. Can't be worse than what these plods are doing.
And to top it off, my favourite phrase thrown into the RNS - in due course! Bloody hell. TRP may want to try showing some respect to shareholders at this point and stop due coursing cursing.
I may be scraping the bottom of the oil barrel for news on the farm-out but this may be of interest to anyone waiting it out. Perhaps they will mention more on the due-diligence at the AGM on the 30th...
10:04 Mon 07 Jun 2021
Tower Resources sees renewed interest in assets with rising oil price
In Cameroon, Tower added it hopes a farm-out will be completed soon
Tower Resources PLC (LON:TRP) said that its assets in Africa are seeing renewed interest with the price of Brent rising to more than US$70 per barrel again.
A growing realisation that industry still needs short-cycle, low-cost projects to sustain oil production over the next few years as well as long term gas production is also helping, the AIM-listed oil exploration group said.
That is driving interest is the offshore frontiers of Namibia and South Africa and Tower said the data room for its joint-venture license in South Africa is seeing a lot of activity.
“The partnership (operated by NewAge) has made considerable progress in identifying and quantifying the potential reservoir targets in the Deep-water (Outeniqua Basin) section of the block, which adjoins both Total's Blocks 11B/12B to the West and Shell's blocks to the East,” Tower added.
In Cameroon, Tower added it hopes a farm-out will be completed soon following due diligence carried out by several parties and the recent licence extension. Covid-19 depending, Tower added it hopes to drill the NJOM-3 well at Thali in 2021.
https://www.proactiveinvestors.co.uk/companies/news/951527/tower-resources-sees-renewed-interest-in-assets-with-rising-oil-price-951527.html
I am 'pleased' to announce
https://www.offshore-mag.com/regional-reports/africa/article/14203682/impact-oil-gas-takes-charge-of-offshore-south-africa-license
TRP, take charge.
I suppose it will be a virtual AGM this year too; in which case we could perhaps compile a list of questions here to pose to TRP. Example questions could be:
Do you ever set yourselves any targets and if so can you give us an example of meeting one?
Is it ever your fault you don't meet targets or is it always someone else's?
Must TRP always be pleased to announce non-news as it suggests a low bar of achievement and is patronising. Nothing to be pleased about, YET!
Short answer to that is God knows.
Long answer is finding other synonyms for due course. The most overused term by JA.
"When is your birthday JA?"
JA replies, "I am pleased to announce, it is in due course."
Incidentally, I did email TRP asking what work was taking place and was told politely they are working hard. I suggest more shareholders email so at least replying back to emails will count as work.
This formal extension allows the Company to proceed with finalising a schedule for drilling and testing the NJOM-3 well.
Would it not have been a better use of time to assume the extension and finalise the schedule so that when an extension appears you can release a real RNS instead of waiting for an extension before finalising? They should have been finalising a schedule in all these dead months else it begs the question on how JA and Co have been filling their time. Just a thought and they may surprise a fool like me eventually.
But for some real news which does have implications for Total and perhaps TRP down the very long, getting longer road, this https://www.google.com/amp/s/m.engineeringnews.co.za/article.php%3fa_id=584151&rep_id=5581
How is that news? Treating shareholders like we can't read by not releasing news and then releasing repeated waffle wrapped up as news, is a waste of time and energy in both writing and reading it. I suggest JA focus on delivering on promises and leave RNS to actual news not fluff to fill an empty pie, or if that fluff is the actual pie then to simply say! Honestly! Will walk off this stink and convince myself it isn't part of a stench and try and see if I can find some more patience. That will be news!
Makes you wonder. I hope it makes JA wonder too and further hope he does not come out with an extension of another extension of another extension of a license as a cause for celebratory news in pat-on-the-back fashion. He and his NEW, EXPERIENCED team need to start delivering on the talk. PR copy won't wash after the other hog.