News Results for Tower Resources (TRP)

  • 01 Sep
    07:42
    Tower Resources raises capital as it progresses Thali prospect

    Africa-focused oil company Tower Resources sad it had agreed a six-month loan facility of $0.5m with Shard Merchant Capital and would also raise $0.2m from a share issue. In addition, Tower...

  • 14 Aug
    09:29
    Tower Resources in funding talks for Thali prospect offshore Cameroon

    Africa-focused oil company Tower Resources said it had in recent weeks engaged in talks regrading an up to $10m loan to fund development of the Thali prospect offshore Cameroon. The proposed...

  • 01 Jul
    09:33
    Tower Resources secures loan repayment extension until mid-August

    Africa-focused oil company Tower Resources said it had secured a further extension of its $750k loan facility. The facility would now be due for repayment on or before 15 August. The terms of the...

  • 30 Jun
    14:33
    Tower Resources expects Thali stake sale funds to arrive by July or August

    Africa-focused oil company Tower Resources said it expected a first payment associated with a sale of stake in the Thali prospect offshore Cameroon to be made in late July or early August. The...

  • 10 Jun
    09:09
    Tower Resources books loss; delays Cameroon well due to Covid-19 crisis

    Africa-focused oil and gas company Tower Resources posted a full-year loss as it continued to develop its Thali prospect offshore Cameroon. Pre-tax losses for the year through December amounted to...

  • 13 Mar
    07:50
    Tower Resources says Thali asset still attractive despite oil rout

    Tower Resources said its Thali prospect offshore Cameroon remained an 'attractive' asset despite the recent rout in oil prices. In an updated reserves report, the asset's net present value and...

  • 09 Mar
    09:18
    Tower Resources raises capital while it progresses planned asset sale

    Tower Resources launched a share placing to raise £0.5m to provide working capital while it completes a planned partial sale of a prospect offshore Cameroon. News shares in the company were being...

  • 02 Mar
    07:55
    Tower Resources sells 24.5% of Thalia prospect offshore Cameroon to OilLR

    Africa-focused oil company Tower Resources said it had agreed to sell down a 24.5% stake in its Thali prospect off the coast of Cameroon to OilLR. The farm-out deal covered $7.5m towards the cost...

  • 19 Feb
    07:34
    Tower Resources plans to start drilling Cameroon well in June

    Oil explorer Tower Resources said it planned to start drilling an exploration well offshore Cameroon in June. The company said it was presently preparing drilling plans for the NJOM-3 well,...

  • 10 Feb
    07:35
    Tower Resources says survey work completed at drill site offshore Cameroon

    Tower Resources said a survey vessel had completed the drilling of three boreholes at the site of a proposed well at the Thali licence offshore Cameroon. The Geoquip Marine vessel MV Investigator...

  • 04 Feb
    09:26
    Tower Resources progresses preparation for well offshore Cameroon

    Tower Resources said a survey vessel had arrived at the site of a proposed well at the Thali licence offshore Cameroon. The Geoquip Marine vessel was presently conducting the site survey and...

  • 15 Jan
    09:39
    Tower Resources wins exploration period extension in Cameroon

    Tower Resources said it had secured a one-year extension on the allowed initial exploration period for the Thali prospect offshore Cameroon from local authorities. The company had been requesting...

  • 01 Nov
    07:13
    Tower Resources inks contract for Cameroon well site survey

    Tower Resources said it had hired Geoquip Marine Operations to conduct a site survey of a planned well location at its Thali block in Cameroon. The contract provided for investigator to arrive in...

  • 15 Oct
    08:29
    Tower Resources to raise £1.5m from share placing

    Africa-focused miner Tower Resources launched a share placing to raise about £1.5m for working capital purposes. New shares in the company would be issued at 0.325p each. Tower Resources also...

  • 01 Oct
    07:46
    Tower Resources awaits complete confirmation for bridging loan extension

    Tower Resources said it had agreed to a payment extension with the majority of lenders regarding a $0.75m bridging facility. However, the company said it was unable to reach a couple of the...

  • 11 Sep
    07:27
    Tower Resources books first-half loss as it proves up Africa prospects

    Tower Resources posted a first-half loss as it continued to prove up its oil and gas prospects in Africa. Pre-tax losses for the six months through June amounted to $1.6m, compared to losses of...

  • 28 Aug
    07:44
    Tower Resources switches rig for Cameroon well; in talks with potential investors

    Tower Resources said it had switched drilling rigs and was continuing discussions with potential investors for an upcoming well in Cameroon. In May, the company had indicated that further site...

  • 09 Jul
    09:22
    Tower Resources wins right to appeal adverse UK tax ruling

    Tower Resources said it had been allowed to appeal against a tax decision made in 2016 against the company by British authorities. The right to appeal against the decision by HMRC, which denied...

  • 21 Jun
    07:26
    Tower Resources to issue new shares, mulls additional capital raising

    Tower Resources said it would raise capital through a share issue and was also considering other financing options to fund a key well offshore Cameroon. The company said it would raise £150k...

  • 04 Jun
    08:15
    Tower Resources losses deepen on Zambia impairment charge

    Tower Resources booked a deeper annual loss after it wrote down the value of its exploration licences in Zambia. Pre-tax losses for the year through December amounted to $3.8m, compared to losses...

  • 08 May
    09:18
    Tower Resources delays commencement of Cameroon well

    Tower Resources said drilling of a new well at the Thali block in Cameroon had been delayed until July. The company said it had received additional data that indicated that further site...

  • 16 Apr
    08:20
    Tower Resources seeks bridging loan as it negotiates wider funding package

    Tower Resources said it would raise short-term financing of up to $750k via a bridging loan as it attempts to bed down funding for prospects in Cameroon. The loan would be raised on terms to be...

  • 08 Feb
    08:41
    FTSE opens 0.3% higher as no-deal Brexit fears weigh on pound

    UK stocks opened higher on Friday as lingering fears of a no-deal Brexit kept pressure on the pound, helping exporters. At 0834, the benchmark FTSE 100 index was up 19.91 points, or 0.3%, at...

  • 08 Feb
    08:01
    Tower Resources says gas discovery made near its South Africa prospect

    Tower Resources noted that a joint venture led by Total had made a significant gas and condensate discovery proximate to one of its assets offshore South Africa. The Brulpadda well encountered 57...

  • 07 Dec
    07:19
    Tower Resources hires rig for new well offshore Cameroon

    Tower Resources said it had hired a rig from Vantage Drilling International for a new well at its Thali licence offshore Cameroon. The NJOM-3 well was scheduled to be drilling in the second...

  • 07 Nov
    09:36
    Tower Resources signs agreement with Namibian for three offshore oil blocks

    Tower Resources said it had signed a petroleum agreement with the Namibian government related to its interest in three offshore oil blocks. The company has an 80% operated interest in blocks...

  • 28 Sep
    09:46
    FLASH: Tower Resources losses deepen as it develops Thali prospect in Cameroon

    Africa-focused mining company Tower Resources said its first-half losses deepened as it developed its Thali prospect in Cameroon. Pre-tax losses for the six months through June amounted to $3.4m,...

  • 21 Sep
    09:44
    Tower Resources JV seeks new investor for South Africa mining prospect

    Tower Resources said its partner in South Africa had appointed an adviser to conduct a sale process for a material share in their Algoa-Gamtoos licence joint venture. Proceeds would be used to...

  • 17 Sep
    09:29
    Tower Resources granted Thali licence extension in Cameroon

    Tower Resources said it had been granted a one year extension to the expiration date of the Thali licence in Cameroon. The extension was granted subject to the condition that a rig contract for an...

  • 20 Aug
    08:21
    Tower Resources to carry out extra preparation work on Cameroon prospect

    Tower Resources said it had completed an environmental and social impact assessment for its Thali prospect in Cameroon, but would need to carry out extra work to pinpoint a well location. The...

  • 11 Dec
    09:38
    Tower Resources advances impact study

    Tower Resources has contracted CIME Services Sarl of Cameroon to support the preparation of an Environmental and Social Impact Assessment for the drilling of multiple wells at its Thali licence in...

  • 30 Nov
    08:09
    Tower Resources awards 3D seismic contract

    Tower Resources, the AIM listed oil and gas company which focuses on Africa, has awarded to DMT Petrologic a contract to reprocess the 3D seismic data over and around Tower's Thali license in...

  • 23 Nov
    14:51
    Tower Resources changes registered office

    Tower Resources has confirmed that the Company's registered address has changed to to 140 Buckingham Palace Road, Westminster, London, SW1W 9SA with immediate effect. At 2:51pm: (LON:TRP) Tower...

  • 16 Nov
    13:08
    Tower issues shares in lieu of fees

    Tower Resource has announced that two of its service providers have elected to receive 4,352,919 New Shares in lieu of £43,529.19 of fees accrued during the period leading up to the Company's...

  • 07 Aug
    14:06
    Tower Resources raises £188k via Open Offer

    Tower Resources has confirmed that the Company has raised gross proceeds of approximately £187,890 through the previously announced and oversubscribed Open Offer. Story provided by...

  • 30 Jun
    15:30
    Director Deals - Tower Resources PLC (TRP)

    Jeremy Asher, Chairman, 5,666,666 shares in the company on the 30th June 2017 at a price of 1.00p. The Director now holds 15,041,495 shares. Story provided by StockMarketWire.com Director deals...

  • 30 Jun
    15:30
    Director Deals - Tower Resources PLC (TRP)

    Peter Taylor, Non Executive Director, 5,666,667 shares in the company on the 30th June 2017 at a price of 1.00p. The Director now holds 10,451,726 shares. Story provided by StockMarketWire.com...

  • 30 Jun
    14:08
    Tower Resources losses widen

    Tower Resources has reported a loss of $23.3m for the year to 31 December 2016, compared to a loss of $9.8m for the previous year. Revenue was nil, as was the case for the previous year. In...

  • 12 May
    07:23
    Tower Res. shares suspended, mulls options

    Tower Resources' shares have been suspended on AIM at its request pending clarification of its financial circumstances, with the company adding it was mulling options that included a possible...

  • 12 May
    07:05
  • 24 Jan
    16:07
    Oil, Gas Roundup

    Exillon Energy's (LON:EXI) output averaged 12,066 barrels per day in December. Average daily production for Exillon Timan-Pechora was 2,555 bpd, and for Exillon West Siberia it was 9,511 bpd...

  • 24 Jan
    07:48
    Tower Res. completes sale of Comet Petroleum Ltd

    Tower Resources confirms the completion of the sale of wholly-owned subsidiary Comet Petroleum Ltd to Red Rio Petroleum Ltd, the privately-held oil and gas exploration company. Red Rio is...

  • 24 Jan
    07:12
    FLASH: Tower Res. completes sale of Comet Petroleum Ltd

    Story provided by StockMarketWire.com

  • 18 Jan
    16:09
    Oil, Gas Roundup

    Urals Energy's (LON:UEN) oil production totalled 756,690 barrels in 2016 and the board has started to investigate potential partnerships to finance and share risk in the execution of its...

  • 04 Nov
    16:07
    Oil, Gas Roundup

    Ascent (LON:AST) says the export production pipeline which runs from the Petisovci field to the Croatian border has been recertified at the operating pressure required for production. This...

  • 04 Nov
    13:28
    Tower changes registered office

    Tower Resources' registered office address has changed to 127 Cheapside, London, EC2V 6BT. with immediate effect. At 1:28pm: (LON:TRP) Tower Resources PLC share price was 0p at 2.38p Story...

  • 28 Oct
    16:25
    Oil, Gas Roundup

    Roxi Petroleum (LON:RXP) said the oil-bearing intervals identified at Well A6 are larger than those previously identified at Deep Wells A5, which is believed to be in the same structure, and at...

  • 28 Oct
    07:37
    Tower Resources outlines directorate changes

    Tower Resources has unveiled a series of changes to its board as part of the previously announced restructuring of its cost base. Graeme Thomson has notified the company of his decision to step...

  • 28 Oct
    07:05
    FLASH: Tower Resources outlines directorate changes

    Story provided by StockMarketWire.com

  • 09 Sep
    16:11
    Oil, Gas Roundup

    Nighthawk Energy (LON:HAWK) was one of the sector's biggest risers following an update to current production levels, operations and existing litigation matters. The company's production continues...

  • 09 Sep
    11:35
    Director Deals - Tower Resources PLC (TRP)

    Peter Blakey, Non Executive Director, received in lieu of fees/salary 18,996 shares in the company on the 8th September 2016 at a price of 0.00p. The Director now holds 1,968,996 shares. Story...

  • 08 Sep
    16:14
    Oil, Gas Roundup

    Tower Resources (LON:TRP) was the sector's biggest faller after raising £1.03m through a placing of 45,919,084 new ordinary shares at 2.25 pence per share. As part of the placing, chairman...

  • 08 Sep
    11:57
    FTSE northbound prior to ECB as Micro Focus flies

    London shares are modestly ahead as investors anticipate European Central Bank's interest-rate and QE calls soon before 1pm today. Micro Focus International (MCRO) is flying ahead on deal news....

  • 08 Sep
    09:02
    FTSE rises ahead of ECB, guided by house builders

    FTSE indices were higher in early deals as traders look to today's European Central Bank's stance on interest rates and QE. Blue-chip house builders led the pack, with Micro Focus (MCRO) and Dixons...

  • 08 Sep
    07:38
    Tower's hike

    Tower Resources intends to raise gross proceeds of about £1.03m via a non-brokered subscription for about 45.9m new shares at a placing price of 2.25p per share. In addition, in order to provide...

  • 08 Sep
    07:13
    FLASH: Tower Resources proposes placing, open offer

    Story provided by StockMarketWire.com

  • 11 Apr
    15:46
    Oil, Gas Roundup

    Iofina's (LON:IOF) shares soared after it reaffirmed its first half output guidance. Iofina says it produced a total of 124.6 metric tonnes (MT) of crystalline iodine in Q1 2016 from its five...

  • 06 Apr
    15:09
    Tower resolutions passed at AGM

    Tower Resources has confirmed that all resolutions proposed at its annual general meeting today were passed and that Peter Blakey, as previously announced, stepped down from the board following the...

  • 04 Apr
    11:20
    Broker Forecast - Peel Hunt issues a broker note on Tower Resources PLC

    Peel Hunt today reaffirms its hold investment rating on Tower Resources PLC (LON:TRP) and cut its price target to 0.06p (from 0.30p). Story provided by StockMarketWire.com

  • 16 Mar
    16:02
    Oil, Gas Roundup

    Tullow Oil's (LON:TLW) shares were up in late trading after it confirmed that the Cheptuket-1 well in Block 12A, Northern Kenya, had encountered good oil shows, seen in cuttings and rotary sidewall...

  • 16 Mar
    13:30
    Tower Resources grants 134.4m options

    Tower Resources has granted 134,400,000 ordinary share options at a premium of 150% over the current share price to directors, members of the management team and retained consultants. The options...

  • 07 Mar
    16:05
    Oil, Gas Roundup

    Hydrodec Group (LON:HYR) was one of the sector's biggest fallers after it sold Hydrodec (UK) Limited and Hydrodec Re-Refining (UK) Limited and agreed to transfer certain other rights and assets...

  • 07 Mar
    09:34
    Tower Resources narrows FY pretax loss

    Tower Resources has narrowed its FY pretax loss to USD9.8m, from an impairment-driven loss of USD56.6m. In the comparative period it impaired exploration and evaluation assets by USD50.6m, versus...

  • 07 Mar
    07:18
    FLASH: Tower Resources narrows FY pretax loss

    Story provided by StockMarketWire.com

  • 16 Feb
    16:01
    Oil,Gas Roundup

    Solo Oil (LON:SOLO) was one of the sector's biggest risers after it was advised of significant oil flows at the Horse Hill-1 well in the Weald Basin. Solo said it had been been advised by the...

  • 16 Feb
    09:23
    Tower Resources issues South Africa update

    Tower Resources subsidiary Rift Petroleum Ltd and its partner New African Global Energy SA (Pty) Ltd have agreed not to proceed with an application to convert the SW Orange Basin Technical...

  • 16 Feb
    07:11
    FLASH: Tower Resources issues South Africa update

    Story provided by StockMarketWire.com

  • 05 Feb
    07:03
    FLASH: Tower Resources director Peter Blakey to retire

    Story provided by StockMarketWire.com

  • 15 Jan
    16:03
    Oil, Gas Roundup

    Human capital resource consultancy Management Resource Solutions' (LON:MRS) bull run continued following its announcement at the start of the week that it had agreed a reverse takeover of Bachmann...

  • 09 Dec
    16:09
    Oil, Gas Roundup

    Europa Oil & Gas's (LON:EOG) shares were down in late trading despite chief executive Hugh Mackay highlighting significant progress across the asset base this year and anticipating a step up...

  • 09 Dec
    07:10
    FLASH: Tower Resources updates on contractual equity issue

    Story provided by StockMarketWire.com

  • 02 Dec
    15:50
    Oil, Gas Roundup

    Oilex's (LON:OEX) shares were up in late trading after it provided notice to the Court and Zeta Resources of its intention to defend the legal proceedings and agreed a timetable with Zeta by which...

  • 26 Oct
    16:03
    Oil, Gas Roundup

    Europa Oil & Gas (LON:EOG) was one of the sector's biggest risers after an independent assessment by ERC Equipoise estimates a mean un-risked net present value of approximately US$7bn to a 100%...

  • 30 Sep
    07:10
    FLASH: Tower Resources issues op. update and interim results

    Story provided by StockMarketWire.com

  • 16 Sep
    16:17
    Oil, Gas Roundup

    SeaEnergy (LON:SEA) was the sector's biggest faller after first half pre-tax losses widened substantially to £2.94m, up from £0.11m last time. Revenue was £1.88m, from £2.511m. The result...

  • 16 Sep
    07:31
    Tower Resources signs Thali PSC

    Tower Resources confirms the signing of the shallow-water Thali (formerly known as "Dissoni") Production Sharing Contract, offshore Cameroon. Tower's signature of the Thali PSC represents a low...

  • 16 Sep
    07:06
    FLASH: Tower Resources signs Thali PSC

    Story provided by StockMarketWire.com

  • 15 Jul
    16:14
    Oil, Gas Roundup

    Afren's (LON:AFR) shares were suspended after the Nigeria-focused oil producer warned that near-term output was likely to be materially lower than the assumptions announced alongside the proposed...

  • 15 Jul
    07:25
    Tower Resources to raise c.£5.2m in placing

    Tower Resources announces a placing and subscription to a raise about £5.2m, after expenses, through the issue of new shares at 0.19p each. It also noted the completion of negotiations for a 100%...

  • 15 Jul
    07:15
    FLASH: Tower Resources to raise c.£5.2m in placing

    Story provided by StockMarketWire.com

  • 18 Jun
    13:03
    Tower Resources passes all resolutions at today's AGM

    Tower Resources, the AIM-listed Africa-focussed oil and gas exploration company, has announced that at the Annual General Meeting of the Company, which took place earlier today, all resolutions put...

  • 28 May
    16:23
    Oil, Gas Roundup

    Bahamas Petroleum Co's (LON:BPC) shares were down in late trading after it noted a slight delay on the new Petroleum Bill and suite of associated regulations currenlty progressing through the...

  • 28 May
    14:37
    Tower interest in Kenya block increased

    Tower Resources' interest in Kenya Block-2B has increased after Premier Oi exercised its right to exit the joint venture. Tower says it has received formal notification from block operator Lion...

  • 18 May
    07:40
    Tower Resources FY pretax loss widens

    Tower Resources has booked a FY pretax loss of $56.6m, from a prior year loss of $3.3m. Revenue was nil. The results included a $50.6m impairment of exploration and evaluation assets. CEO Graeme...

  • 18 May
    07:12
    FLASH: Tower Resources FY pretax loss widens

    Story provided by StockMarketWire.com

  • 26 Mar
    16:08
    Oil, Gas Roundup

    Oilex Ltd (LON:OEX) was up in late trading after it said overall progress of the Cambay-73 project is 77% complete. It anticipated production during May 2015. The electrical system installation is...

  • 24 Mar
    15:54
    Oil, Gas Roundup

    Leed Resources (LON:LDP) was the sector's biggest faller despite interim pre-tax losses narrowing to £100,000 in the six months to the end of December - down from £115,000 a year ago. Chairman...

  • 24 Mar
    07:27
    Tower Resources to issue 15.1m shares at 0.66p each

    Tower Resources has agreed to issue 15,094,482 new shares under contractual arrangements as part payment for services provided in Q4 2014. The new Ordinary Shares will be issued at a price of...

  • 24 Mar
    07:03
    FLASH: Tower Resources to issue 15.1m shares at 0.66p each

    Story provided by StockMarketWire.com

  • 19 Mar
    16:06
    Oil, Gas Roundup

    Tower Resources (LON:TRP) was down in late trading after the Africa-focussed oil and gas explorer said it was taking steps to adjust to the current adverse oil sector market conditions. The...

  • 19 Mar
    07:08
    FLASH: Tower Resources gives corporate update

    Story provided by StockMarketWire.com

  • 23 Feb
    17:09
    FTSE mixed on resources as Greece saga lingers

    FTSE indices closed mixed -- the blue-chip down a sliver after earlier hitting all-time highs, and the mid-cap up -- as falls among several big-ticket resources stocks pipped gains elsewhere....

  • 23 Feb
    16:16
    Oil, Gas Roundup

    Tower Resources' (LON:TRP) shares plummeted after it received formal notification from Lion Petroleum Inc that the Badada-1 well onshore Kenya has been drilled to a total depth of 3,500 metres...

  • 23 Feb
    12:07
    FTSE 100 tests all-time highs, but dips on resources

    The FTSE blue-chip index briefly nipped up to fresh all-time highs before easing towards midday. Falls among resources stocks weighed as oil issues followed crude lower. In-the-spotlight HSBC...

  • 23 Feb
    08:48
    FTSE up on hopes for Greece bailout extension

    FTSE indices tiptoed into positive territory on a healthy flow of corporate news and guarded confidence that Greece will win a four-month bailout extension. Financial stocks led the blue-chip...

  • 23 Feb
    07:36
    TRP's well

    Tower Resources has received formal notification from Lion Petroleum Inc that the Badada-1 well has been drilled to a total depth of 3,500 metres MDBRT and following completion of logging...

  • 23 Feb
    07:10
    FLASH: Tower Resources says Badada-1 to be abandoned

    Story provided by StockMarketWire.com

  • 18 Feb
    14:06
    Tower update on Badada-1 well drilling

    Tower Resources, the AIM-listed Africa-focussed oil and gas exploration company, has issued an update on drilling operations for the Badada-1 well, Block-2B, onshore Kenya. Tower said it had...

  • 04 Feb
    15:52
    Oil, Gas Roundup

    US onshore oil, gas and condensate explorer, developer and producer Empyrean Energy (LON:EME) was the sector's biggest faller after it confirmed it was no longer up for sale. The board believes a...

  • 04 Feb
    14:26
    Tower gives update on Kenya well

    Tower Resources issued an update on drilling of the Badada-1 well on Block-2B, onshore Kenya. Tower said it had received formal notification from Lion Petroleum Inc, the wholly-owned Kenya-based...

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