Tower Resources Plc · LSE:TRP
Tower Resources — Oil Capital Conference 2018
16 slides from Tower Resources's conference presentation, Mar 14, 2018
Slide 1: Cameroon: Unlocking value in a producing basin
Cameroon: Unlocking value in a producing basin Oil Capital Conference 14 March 2018 © 2018 Tower Resources plc 1
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
Slide 3: Summary
Tower Resources Summary Focus on Cameroon ▪ Main focus is near-field exploration/appraisal in Cameroon ▪ Thali license in shallow water, prolific Rio Del Rey basin ▪ 3 discovery wells already drilled by Total ▪ 39 million bbls (gross) contingent OIP* in Njonji discovery alone ▪ Numerous prospects fo
Slide 4: Capital Structure
Tower Resources Capital Structure Capital Structure Shareholders Listing AIM Share price 1.38p Market capitalisation ~ £5.3m Issued share capital 374.27m Options & warrants‡ 36.1m (8.8%) Director, staff and 15.4% consultant holdings Average Daily Volume† 3.2 million 12 month low (at close) 0.751p 12
Slide 5: Tower's Team
Tower Resources Tower’s Team ▪ Small committed board with significant personal investment ▪ Directors own ~14% of issued share Jeremy Asher Peter Taylor Graeme Thomson David M Thomas Chairman & Non-Executive Non-Executive Non-Executive CEO Director Director Director capital ▪ Staff with the company
Slide 6: Thali Block
Tower Resources Cameroon, Rio del Rey Basin Thali Block THALI PSC © 2018 Tower Resources plc 6
Slide 7: Rio del Rey – proven plays in Niger Delta
Cameroon, Thali Block Rio del Rey – proven plays in Niger Delta Rio Del Rey Basin Regional Hydrocarbon Provinces Nigeria Cameroon Extensional Province ▪ Underexplored sub- Mobile Shale Belt RIO DEL REY BASIN basin of the prolific Fold-Thrust Belt > 2 Billion bbl / >1.4 TCF Niger Delta ▪ >> 34.5 Bill
Slide 8: Proven Oil and Gas on Block
Cameroon, Thali Block Proven Oil and Gas on Block Low-Risk Fault-Blocks Close to Existing Infrastructure ▪ 25 MMbbl Dissoni North field lies immediately north of the Thali block DISSONI NORTH 25 MMbbl net reserves • Developed by Perenco – planned to (recoverable) reach 12,500 bpd of 35o API oil • Ca
Slide 9: Significant Exploration Potential in Addition to Near-Term Production
Cameroon, Thali Block Significant Exploration Potential in Addition to Near-Term Production Turbidites to South-East ▪ Potential Alba-type plays Deeper Underexplored Sandstone Plays ▪ Billion barrel fields along trend in Equatorial Guinea ▪ Similar leads identified in Thali ▪ Marathon and Exxon oil
Slide 10: Forward Plan
Cameroon, Thali Block Forward Plan ▪ Seismic Reprocessing - estimate 4 to 6 months to Pre Stack Time Migration ▪ Interpretation & Prospect Inventory - re-interpretation on new reprocessed seismic ▪ Drilling ESIA - TOR, specialist studies, reporting & approval for potential multi-well programme 2017
Slide 11: Well placed in areas targeted by Majors
South Africa Well placed in areas targeted by Majors 2014 Acquisition of Rift Petroleum ▪ Algoa-Gamtoos (50%, Operator: New Age) ▪ 3D acquired in 2014 ▪ 1st Renewal Period of Algoa-Gamtoos granted in Sept 2015, agreed in 2017 – additional geophysical data planned in 2019 ▪ Oil-majors in neighbouring
Slide 12: Why Zambia? 'There is no oil there….'
Zambia, Blocks 40 and 41 Why Zambia? ‘There is no oil there….’ ▪ The Mid-Zambezi Basin: A 25,000+ km2 rift basin with no oil & Historic focus 25-30yrs gas exploration wells, nor even any ago in Luangwa Basin – seismic data Only two wells drilled ▪ But source rock, reservoir and seals all appear to b
Slide 13: Summary
Tower Resources Summary Focus on Cameroon ▪ Main focus is near-field exploration/appraisal in Cameroon ▪ Thali license in shallow water, prolific Rio Del Rey basin ▪ 3 discovery wells already drilled by Total ▪ 39 million bbls (gross) contingent OIP* in Njonji discovery alone ▪ Numerous prospects fo
Slide 14: Appendix
Tower Resources Appendix ▪ Cameroon – Thali block history ▪ Zambia – Play stratigraphy © 2018 Tower Resources plc 14
Slide 15: Thali Block Prospectivity
Thali Block Prospectivity Exploration history ▪ Three wells drilled in the 1960-80’s on 2D seismic data ▪ ERM1 (1967) - oil shows (‘PS.9’ sands) ▪ EUM1 (1980) - dry ▪ ISM1 (1981) - dry ▪ Result: proved the presence of deltaic ’S’ reservoirs ▪ Reasons for failure: ▪ Not drilled on structure ▪ Six wel
Slide 16: Proven Source Rocks & Reservoirs
Zambia, Blocks 40 and 41 Proven Source Rocks & Reservoirs ▪ Key play elements proven in Blocks 40 & 41 Play Stratigraphy of Blocks 40 & 41 by initial field work in 2014, additional work in 2015/16: AGE SUPER- (Ma) STAGE GROUP • Widespread source rocks TERT. KALAHARI SSTS JURA. BATOKA BASALT • Excell