Tower Resources PLC (AIM:TRP, FRA:ULF1) told investors it has secured a one-year extension to the initial exploration period for its Thali licence in Cameroon, keeping the project on track for a targeted second-quarter 2027 drilling campaign. The AIM-listed group said its wholly owned subsidiary, Tower Resources Cameroon SA, received formal documentation from the Ministry of Mines, Industry and Technological Development extending the licence to 2 October 2027.
Tower Resources PLC (AIM:TRP, FRA:ULF1), the Africa-focused energy company, rose 9% to 0.015p after providing further progress on regulatory approvals in Cameroon and Namibia. The shares were up 0.0012p on the day, implying a previous closing price of about 0.0138p, as investors responded to updates on the company's two main exploration projects.
Tower Resources PLC (AIM:TRP, FRA:ULF1), in its interim results statement, said it expects to spud its NJOM-3 appraisal well offshore Cameroon in early Q2 2027, as government approvals for its Thali licence extension and farm-out to Prime Global Energies move towards formal completion. Presidential authorisation covering the licence extension and 42.5% farm-out has been transmitted through the Prime Minister's office to the relevant ministry and state oil company SNH.
| Energy Equipment & Services Industry | Energy Sector | R. Joe Dhami CEO | XMUN Exchange | CA89185T1066 ISIN |
| CA Country | - Employees | - Last Dividend | 20 Sep 2011 Last Split | - IPO Date |