Tower Resources Ltd. (TWR)
TSX-V 
Summary
TWR Chart
Tower Resources secures Namibian approval for PEL96 farm-out
Tower Resources PLC (AIM:TRP, FRA:ULF1), the oil and gas company focused on Africa, has received formal approval from Namibia's Ministry of Industries, Mines and Energy for the farm-out of its PEL96 licence offshore Namibia to Prime Global Energies. The approval clears the only outstanding condition precedent under the farm-out contract, which was first announced in January 2025.
Tower Resources raises £400,000 as it eyes Namibia farm-out approval
Tower Resources PLC (AIM:TRP, FRA:ULF1), the oil and gas company focused on Africa, said it had raised £400,000 to bolster working capital while it waits on government approvals for two farm-out deals. The subscription was priced at 0.016p a share, a discount of about 6% to the closing bid price on 23 June,.
Tower Resources says it remains confident that it will "reap the benefits of patience"
Tower Resources PLC (AIM:TRP, FRA:ULF1) said it remains confident that the company and its investors "will reap the benefits of patience", as the small-cap continues to await approvals on farm-outs designed to fund work in Cameroon and Namibia. At the same time, Tower noted that 2026 had begun with a positive period for oil prices, and it has undertaken a considerable amount of work to ensure that once approvals have been issued, it will be operationally ready.
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Tower Resources Ltd. Profile
| Energy Equipment & Services Industry | Energy Sector | R. Joe Dhami CEO | TSX-V Exchange | CA89185T1066 ISIN |
| CA Country | - Employees | - Last Dividend | 20 Sep 2011 Last Split | - IPO Date |
