Tower Resources (neighbour) estimates 9.3 billion Hi there,
Tower Ressources is one of our neighbours offshore Namibia in the blocks 1910A, 1911 & 2011A. That is two blocks north of the GUY blocks!
What are we waiting for?! ;-)
Cheers and have a good start into the day,
Neo
source: https://www.iii.co.uk/articles/35138/thursdays-aim-news-commodities (scroll down)
(I found this on Hotcopper posted by the user Dknow)
Tower Resources
Shares in Tower Resources (TRP) jumped 14.5% as the company announced "exciting" prospects in its Namibian assets.
In Namibia, 3D seismic interpretation has been completed, with a clear structural closure, sustained reservoir thickness and direct hydrocarbon indicators confirmed. The independent competent person's report identified five targets in the Delta structure which, if oil bearing, are estimated to contain some 9.3 billion barrels of recoverable oil and 14.5 trillion cubic feet (tcf) of gas.
In Uganda, the company has completed a 2D seismic survey, aero-gravity gradiometry survey and geochemical survey on licence area. Post-period, the Mvule-1 well in Uganda was spudded.
Financially, the company agreed a £8 million standby equity distribution agreement and a $3.125 million loan agreement with YA Global Master SPV. It also entered into a £20 million equity finance facility with Darwin Strategic.
"2012 should be a positive year for the company as its Namibian prospects look to match management's expectations," said FoxDavies. "With Namibia now the key focus, the proposed drilling programme is key to unlocking the value within its resource base."