Tower Resources plc

Equities

TRP

GB00BZ6D6J81

Oil & Gas Exploration and Production

Market Closed - London S.E. Other stock markets 09:31:54 2024-07-16 EDT			5-day change	1st Jan Change
0.0118 ^GBX	-1.67%		-1.67%	-46.36%

06-06	Tower Resources Issues Shares to Fund Working Capital Needs	MT
06-03	EARNINGS AND TRADING: Brookfield mulls cash bid for Tritax EuroBox	AN

Tower Resources announces placing of up to USD6 million

January 16, 2023 at 06:46 am

Tower Resources PLC - Africa-focused oil and gas company - Announces institutional share placing worth up to USD6 million with Energy Exploration Capital Partners LLC. Initially the placing will raise USD1.3 million at a premium price of 0.36p, after which EECP will invest up to USD1.8 million in aggregate for shares worth up to USD1.9 million. If required, Tower may raise a further USD3.0 million from Energy Exploration Capital Partners via a shares issue.

Current stock price: 0.15 pence, down 4.2% on Monday

12-month change: down 46%

By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
DOW JONES AFRICA TITANS 50 INDEX	503.2 PTS	-0.00%	+2.35%	-
S&P AFRICA 40 INDEX	170.5 PTS	-0.42%	+2.73%	-
BRENT CRUDE OIL SPOT	84.01 USD	-0.97%	-1.87%	-
WTI	80.12 USD	-1.02%	-1.97%	-
TOWER RESOURCES PLC	0.0118 GBX	-1.67%	-1.67%	2.78M

Latest news about Tower Resources plc

Tower Resources Issues Shares to Fund Working Capital Needs	06-06	MT
EARNINGS AND TRADING: Brookfield mulls cash bid for Tritax EuroBox	06-03	AN
Tower Resources plc Reports Earnings Results for the Full Year Ended December 31, 2023	06-03	CI
Tower Resources Selects Five Targets for the Initial Phase of Drilling on its Rabbit North Property	05-23	MT
Tower Resources plc Provides Cameroon Rig Update	05-23	CI
Diversified Energy offers dividend alternative	02-15	AN
Tower Resources Plans Fundraising to Repay Energy Exploration Capital Partners Facility	02-15	MT
Seeing Machines revenue grows; Baron Oil strikes deal	02-08	AN
Tower Resources Receives Extension for Cameroon License	02-08	MT
Tower Resources Issues Shares to Energy Exploration Capital	01-04	MT
Tower Resources to Raise Funds for Oil Exploration Programs; Shares Drop	12-18	MT
Tower Resources Inks Rig Contract With Borr Drilling	12-18	MT
Tower Resources to Issue New Shares to Energy Exploration Capital Partners	12-07	MT
Tower Resources to issue 317.6 million shares to placee	23-10-04	AN
Tower Resources to Issue Shares on Investment Deed with Energy Exploration Capital Partners	23-10-04	MT
EARNINGS: Beacon Energy and Kefi Gold & Copper losses widen	23-09-29	AN
Tower Resources plc Reports Earnings Results for the Half Year Ended June 30, 2023	23-09-29	CI
Pendragon Chief Operating Officer Martin Casha to resign	23-07-07	AN
Tower Resources Plans Flow-Through Financing; Down 7.7%	23-06-29	MT
Tower Resources plc Auditor Raises 'Going Concern' Doubt	23-06-23	CI
Jangada Mines notes Blencowe's completion of test work	23-06-19	AN
Tower Resources swings to a loss with numerous headwinds	23-06-19	AN
Tower Resources plc Reports Earnings Results for the Full Year Ended December 31, 2022	23-06-19	CI
Tower Resources hails basin modelling results in Namibia	23-06-16	AN
Tower Resources CEO stake in company falls amid placing	23-05-31	AN

Chart Tower Resources plc

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Company Profile

Tower Resources plc is a United Kingdom-based independent oil and gas company. The Company operates oil and gas licenses with a focus on projects in Africa. The Company has operations in Cameroon, Namibia, South Africa, and Western Sahara. The Company, through its wholly owned subsidiary, holds 100% interest in the shallow-water Thali Production Sharing Contract (PSC) in the Rio del Rey basin, offshore Cameroon. The Thali PSC covers an area of approximately 119.2 square kilometers (km2), with water depths ranging from eight to 48 meters, and lies in the prolific Rio del Rey basin, in the eastern part of the Niger Delta. Through its wholly owned subsidiary, Tower Resources (Namibia) Limited, it has an 80% interest in Blocks 1910A, 1911 and 1912B. The blocks cover 23,297 km2 of the northern Walvis Basin and Dolphin Graben (offshore Namibia). The Company also holds a 50% interest in the Algoa-Gamtoos license offshore South Africa. The Algoa-Gamtoos license covers approximately 9,369 km2.

Sector

Oil & Gas Exploration and Production

Calendar

2024-07-18 - Annual General Meeting

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Income Statement Evolution

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Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.00012 GBP

Average target price

0.0012 GBP

Spread / Average Target

+900.00%

Consensus

Annual profits - Rate of surprise

Company calendar

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