Business
Board Changes
Board Changes.
About this update from Tower Resources Plc
[{"type":"text","content":"\n\n\n \n \n2 August 2024\nTower Resources plc\n(\"Tower\" or the \"Company\")\nBoard Changes\n \nTower Resources plc (AIM: TRP), the AIM-listed oil and gas company focused on Africa, is pleased to announce the following Board changes.\n \nFirst, the Company is delighted to announce the appointment of Ms Stacey Kivel as an independent Non-Executive Director of the Company with immediate effect.\n \nStacey has 20 years' experience in senior management and as a company director, including as a Head Corporate Counsel and Company Secretary, working across business development and investor relations for oil exploration operators with assets in Africa, including both AIM and TSX listed companies. As a US qualified lawyer with a degree in Finance, she assisted these entrepreneurial companies with their commercial activities, including the raising of hundreds of millions of US dollars in debt and equity finance to successfully run drilling campaigns. Stacey is also familiar with both Cameroon and Tower, albeit some time ago, having served as an advisor and counsel to Tower between 2013 and 2016, where she was mandated with securing the successful acquisition of the Thali block in Cameroon, and assisted the Company with its other African interests.\n \nStacey will join the Remuneration and Audit Committees and has agreed to chair the Remuneration Committee going forward.\n \nSecond, the Company is also pleased to announce that Dr Mark Enfield has agreed to increase his time commitment to the Company and will henceforth serve as an Executive Director of the Company. This step reflects the growing amount of subsurface and technical work which the Company has been undertaking over the past year as Operator of both the Cameroon Thali license and the Namibian PEL 96 license, and which the Company expects to increase further over the years ahead.\n \nThe Company is stepping up the already substantial amount of subsurface work it has been carrying out on PEL 96, where Tower intends to reprocess a large amount of 2D data over the coming months ahead of further 3D seismic data acquisition, as recently explained in today's Namibia Update announcement. Furthermore, the NJOM-3 well, which the Company is still expecting to spud in late Q4 2024 or early Q1 2025 (before the end of the current license period...