Tower Resources Ltd. (TWRFF)
Tower Resources extends Thali licence ahead of drill campaign
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 shares rise 9% as Cameroon and Namibia approvals advance
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 eyes NJOM-3 appraisal well in 2027
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.
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.
Tower Resources tops up working capital amid investor demand
Tower Resources PLC (AIM:TRP, FRA:ULF1) has announced a share subscription to raise £375,000, with proceeds earmarked to support working capital as its projects continue to move forward. The company, in an RNS, noted that it will new shares at a price of 0.022p each, which represents a discount of about 8% (to yesterday's closing bid price).
