Tower Resources Plc · LSE:TRP

Tower Resources — Investor Presentation (July 2021)

15 slides from Tower Resources's investor presentation, July 2021

  1. Slide 1: Tower Resources plc Assets in Africa

    Tower Resources plc Assets in Africa July 2021

  2. Slide 2: Disclaimer: Important Notice

    Disclaimer Important Notice DISCLAIMER The information contained in these slides has been prepared by Tower Resources plc (the “Company”). This Presentation is being made for information purposes only and does not constitute an offer or invitation for the sale or purchase of securities or any of the

  3. Slide 3: Summary of Assets in Africa

    Tower Resources Summary of Assets in Africa Cameroon appraisal and development ! 18 million bbls of Pmean recoverable contingent resources in Njonji structure on Thali block ! 18 million bbls+ of additional Pmean prospective resources in the same structure ! Over 100 million bbls of riskier Pmean pr

  4. Slide 4: Thali Block, Cameroon, Rio del Rey Basin

    Tower Resources Cameroon, Rio del Rey Basin Thali Block THALI PSC © 2021 Tower Resources plc 4

  5. Slide 5: Thali is in a proven producing basin

    Cameroon, Thali Block Thali is in a proven producing basin DISSONI NORTH (PERENCO OPERATED) 20 THALI PSC PERENCO / ADDAX Contingent OPERATED FIELDS OAK 30 Prospective (PERENCO AQUIRED 50% INTEREST IN 2018) 40 (FSO) 50 THALI Fields: MASSONGO TERMINAL 5 Water depth (m) © 2021 Tower Resources plc 5

  6. Slide 6: Njonji structure alone could produce 8,000+ bbls/day

    Cameroon, Thali Block Njonji structure alone could produce 8,000+ bbls/day Independent CPR Best Estimate NPV10 of $119m for 18 MMbbl of Contingent Resources at March 2020 Brent prices – well below current forward curve DISSONI NORTH FIELD SHALLOW PLAYS 25 MMbbl Contingent Prospective XX MMbbl = DISS

  7. Slide 7: Drilling plan – first steps

    Cameroon, Thali Block Drilling plan – first steps • NJOM-3 location is chosen to provide a good location for: – Testing of flow rates and confirming thicknesses – Deviating additional wells into other parts of the structure • Next step is to drill three follow-on wells from NJOM-3 location to: – Inc

  8. Slide 8: Current estimated timeline

    Cameroon, Thali Block Current estimated timeline • First step is the NJOM-3 well and flow test • After we have results, then we will update reserves and resource estimates • Authorisations, planning and procurement for 3 further wells, platform and MOPU to follow 2021 2022 2023 2024 NJOM-3 well and

  9. Slide 9: Potential Cash flow: Contingent Resources only

    Cameroon, Thali Block Potential Cash flow: Contingent Resources only • Project cash flow is very attractive even based on Contingent Resources only, at current Brent prices • Indication of first five years cash flow (four years of production) shown below • This represents recovery of around 10.8 mil

  10. Slide 10: Potential Cash flow: including Njonji South PR

    Cameroon, Thali Block Potential Cash flow: including Njonji South PR • This scenario assumes that the deeper reservoirs South of the East-West fault in Njonji are oil-bearing • Increases the pMean Recoverable Resources from around 18 million bbls to around 36 million bbls • Additional capex is refle

  11. Slide 11: South Africa: Operated by New Age, 50% interest

    South Africa Operated by New Age, 50% interest Substantial Prospective Resources in three basins, upgraded by operator in 2021 ! Gamtoos Basin: Roan, Reedbuck and Steenbock prospects covered by extensive 2D ! Algoa Basin: Canyon prospect, already covered by 3D ! Outeniqua Basin: Brulpadda and Luiper

  12. Slide 12: Namibia: New license granted in October 2019

    Namibia New license granted in October 2019 PEL 96 covers Blocks 1910A, 1911 & 1912B EXXON / SONANGOL ! Operator: Tower with 80% interest MOU (DEC 2018) ! Local partner and Namcor to hold 20% Significant hydrocarbon ! Very large area of 23,297 km2 shows ANGOLA ! Tower knows these blocks very well fr

  13. Slide 13: Namibia: Multiple Plays, Stacked Targets

    Namibia Multiple Plays, Stacked Targets ! Norsk Hydro wells (mid-1990s) proved presence of: ! Thick Palaeocene, Maastrichtian & Campanian turbidite sands ! Good quality Albian carbonate reservoirs ! Multiple large structural traps identified and mapped on existing 2D seismic Giant 4-way Dip Closures

  14. Slide 14: Summary of Assets in Africa

    Tower Resources Summary of Assets in Africa Cameroon appraisal and development ! 18 million bbls of Pmean recoverable contingent resources in Njonji structure on Thali block ! 18 million bbls+ of additional Pmean prospective resources in the same structure ! Over 100 million bbls of riskier Pmean pr

  15. Slide 15: www.towerresources.co.uk

    www.towerresources.co.uk © 2020 Tower Resources plc 15

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