Tower Resources (TRP)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

0.040p
   
  • Change Today:
      0.001p
  • 52 Week High: 0.048p
  • 52 Week Low: 0.011p
  • Currency: UK Pounds
  • Shares Issued: 17,974m
  • Volume: 473,356,108
  • Market Cap: £7.19m
  • RiskGrade: 530

Tower Resources in talks with oil major over Namibia blocks

By Josh White

Date: Thursday 03 Oct 2019

LONDON (ShareCast) - (Sharecast News) - Africa-focussed oil and gas company Tower Resources updated the market on the latest activity on blocks 1910A, 1911 and 1912B in Namibia on Thursday.
The AIM-traded firm said it had disclosed technical and commercial information to an unnamed major international oil company, in order to explore the potential to co-operate in respect of its Namibian blocks.

That followed preliminary discussions initiated by that company, the board said, and held earlier in the summer.

"This process is at a very early stage, and may not lead to any agreement," said Tower Resources chairman and chief executive officer Jeremy Asher.

"However, it does provide a timely reminder that, in addition to our Cameroon appraisal and development project, the company has two extremely attractive exploration opportunities in Namibia and South Africa."

Asher said the company's Namibian blocks, in which the firm had an 80% interest as operator, included two giant four-way dip closures in the west and four large structures in the Dolphin Graben, where the 1994 Norsk Hydro well 1911/15-1 encountered three source rock intervals, and recovered oil from Albian carbonate core samples.

"Our Algoa-Gamtoos license in South Africa, operated by NewAge, where our interest is 50%, adjoins Total's license where it made its recent 1-billion boe Brulpadda gas-condensate discovery in the Outeniqua basin, and that Algoa-Gamtoos license includes a 364 million boe prospect identified by NewAge in the same Outeniqua basin."

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Tower Resources Market Data

Currency UK Pounds
Share Price 0.040p
Change Today 0.001p
% Change -2.44 %
52 Week High 0.048p
52 Week Low 0.011p
Volume 473,356,108
Shares Issued 17,974m
Market Cap £7.19m
RiskGrade 530

Tower Resources Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
61.55% above the market average61.55% above the market average61.55% above the market average61.55% above the market average61.55% above the market average
67.12% above the sector average67.12% above the sector average67.12% above the sector average67.12% above the sector average67.12% above the sector average
Price Trend
24.37% above the market average24.37% above the market average24.37% above the market average24.37% above the market average24.37% above the market average
41.03% above the sector average41.03% above the sector average41.03% above the sector average41.03% above the sector average41.03% above the sector average
Income Not Available
Growth Not Available

Tower Resources Dividends

No dividends found

Trades for 10-Oct-2024

Time Volume / Share Price
16:28 6,115,491 @ 0.041p
16:25 4,878 @ 0.041p
16:23 1,000,000 @ 0.041p
16:22 4,878 @ 0.041p
16:22 4,878 @ 0.041p

Top of Page