Tower Resources Plc · LSE:TRP

Tower Resources — Investor Presentation (May 2013)

24 slides from Tower Resources's investor presentation, May 2013

  1. Slide 1: Frontier African Exploration Corporate Presentation

    Frontier African Exploration Corporate Presentation May 2013 © 2012-3 Tower Resources plc

  2. Slide 2: Disclaimer Important Notice

    Disclaimer Important Notice The information contained in these slides has been prepared by the directors of Tower Resources plc (the “Company”). The information contained in these slides, the presentation made to you verbally and any other information provided to you (in writing or otherwise) in con

  3. Slide 3: Corporate Overview

    Tower Resources Corporate Overview Snapshot Capital Structure Investment Summary New Ventures Strategy Board and Management Team 2012 Highlights © 2012-3 Tower Resources plc 3

  4. Slide 4: Snapshot

    Tower Resources Snapshot 3 Blocks 1 Onshore 2 Offshore 76,753 km2 Representative office East Africa regional base Licence 0010 3 Blocks offshore Operator: Repsol Drilling: Q1 2014 © 2012-13 Tower Resources plc 4

  5. Slide 5: Capital Structure

    Tower Resources Capital Structure Shareholders  Listing: AIM  Share price: 1.4p Jeremy Asher 11.4% (Chairman)  Market capitalisation: ~ £23m 7.1% Mark Savage  Issued share capital: 1,624m 6.7% Quantum Pacific Management  Options & warrants: 62.8m 56.2% Henderson Global 6.5% Investors  Average

  6. Slide 6: Investment Summary

    Tower Resources Investment Summary Material licence  30% interest in Licence 0010 – Walvis Basin position in frontier  Blocks 1910A, 1911, 2011A – 12,000 km2 basin offshore Namibia  Welwitschia-1 targeting net risked recoverable resources of 458mmboe  Primary African focus Focussed and energised

  7. Slide 7: New Ventures Strategy

    Tower Resources New Ventures Strategy Pan-Africa focus Emerging basins “Do-able” deals Portfolio re-balancing New licence rounds Near-term activity Asset swaps Equity/Assets as Farm-ins “currency” Acquisitions Screening/high- grading of opportunities Project Management Strategic Alliance with Geosci

  8. Slide 8: Board

    Tower Resources Board Jeremy Asher Philip Swatman Non-Executive Chairman Senior Non-Executive Director  Jeremy Asher is an experienced investor in natural resource companies.  Philip Swatman retired as Vice Chairman  He is Chairman of Agile Energy Limited, a privately held of NM Rothschild and co

  9. Slide 9: Management Team

    Tower Resources Management Team Jim Webb Andrew Matharu Exploration Manager VP Corporate Affairs  Geologist with more than 40 years of exploration and  Andrew Matharu has over 17 years’ experience in the oil appraisal experience in the North Sea, Europe, and gas sector and commenced his career as

  10. Slide 10: 2012 Highlights

    Tower Resources 2012 Highlights  Increased our share of the highly prospective Namibian Licence 0010 from 15% to 30%, increasing our net risked recoverable resources to 540 million barrels of oil equivalent (“mmboe”) at an immediate cash cost of $5.3 million  Supported the successful farm-out of 4

  11. Slide 11: Asset Overview

    Tower Resources Asset Overview Licence 0010 and history Source and migration paths Play elements and Stratigraphy Seismic AVO response/DHIs CPR – Prospectivity Current and future activity Western Sahara © 2012-3 Tower Resources plc 11

  12. Slide 12: Offshore Namibia: Licence history – increasing interest

    Offshore Namibia Licence history – increasing interest © 2012-13 Tower Resources plc

  13. Slide 13: Namibia Licence 0010 Petroleum Migration

    Namibia Licence 0010 Petroleum Migration North Surrounded by Source Kitchens Namibe Basin  Cenomanian and Beta Albian source in Namibe basin to north Alpha  Albian source in Walvis Basin to south Gamma Elephant Platform  Unproven syn-rift source kitchen to west  Seepage seen on satellite data De

  14. Slide 14: Namibia Licence 0010 Play Elements

    Namibia Licence 0010 Play Elements Stratigraphy Source Maturity Licence 0010 © 2012-13 Tower Resources plc 14

  15. Slide 15: Strong evidence for hydrocarbon charge

    Namibia Strong evidence for hydrocarbon charge Welwitschia-1 High resolution 3D seismic line showing:  Very strong and continuous AVO anomalies at the Maastrichtian level  Numerous and lengthy pockmarks (chimneys) - indicating the presence of hydrocarbons - thereby boosting the GCOS to 40% (ECOS 3

  16. Slide 16: Delta Prospect AVO responses

    Delta Prospect AVO responses Palaeocene Ponded sands Shallow gas Maastrichtian anomaly Campanian © 2012-13 Tower Resources plc 16

  17. Slide 17: Large target, high value, low risk

    Namibia Licence 0010 Large target, high value, low risk Prospective Recoverable Resources – June 2011 CPR Gross Unrisked P50 Estimate* Total Net P50 Risked Oil Gas GCoS ECoS Resources** Horizon (mmbbls) (bcf) (%) (%) (mmboe) DeepMaastrichtian 2,226 3,390 40 31 196 Palaeocene 3,466 5,120 24 19 174 Up

  18. Slide 18: Offshore Namibia Recent drilling activity

    Offshore Namibia Recent drilling activity © 2012-13 Tower Resources plc

  19. Slide 19: Offshore Namibia Current and future activity

    Offshore Namibia Current and future activity Operator (Partners) Licence blocks 2013 2014 2015 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 BP (Serica Energy) 2512A, 2513A&B, 2612A Chariot Oil & Gas (Azimuth) 2312A&B, 2412A&B (Central) Chariot Oil & Gas (BP, Petrobras) 2714A (South) Chariot Oil & Gas 2714B (South)

  20. Slide 20: Western Sahara

    Tower Resources Western Sahara • 50% interest in three licences in the Saharawi Arab Democratic Republic - SADR • Operator is Wessex Petroleum PLC • Two offshore, one onshore • Operations cannot begin before sovereignty of the region has been finally resolved © 2012-13 Tower Resources plc 20

  21. Slide 21: Summary

    Tower Resources Summary  Willing and experienced early entrants in East and West Africa  Super-giant structure in Namibia, to be operated by Repsol, drilling in Q1 2014  First well being planned to intersect five targets with multi-billion barrel potential  Strong appetite, demonstrated in doubl

  22. Slide 22: Appendix

    Tower Resources Appendix © 2012-3 Tower Resources plc 22

  23. Slide 23: Namibia Licence 0010 Play summary

    Namibia Licence 0010 Play summary Reservoir – distal fans – sand proven in wells to the east – plus Albian carbonates seen on 3D Basin-floor fan Source – Pre-Aptian / Albo-Aptian / Cenomanian-Turonian Structure – Simple un-faulted anticline sands in wells 1911/10-1 1911/10-1 and 1911/15-1 Distal tur

  24. Slide 24: Delta Maastrichtian Amplitude and AVO response

    Delta Maastrichtian Amplitude and AVO response Far offset Amplitude Extraction and depth contours AVO Anomaly Map Red area 128 sq Km CPR P99 Resource Yellow area 298 sq Km CPR P50 Resource Green area 734 sq Km CPR P1 Resource Outlines for 3 different degrees of AVO response © 2012-13 Tower Resources

Tower Resources — Investor Presentation (May 2013) on 6ix