Tower Resources Plc · LSE:TRP

Tower Resources — Investor Presentation (November 2013)

17 slides from Tower Resources's investor presentation, Nov 7, 2013

  1. Slide 1: Frontier African Exploration

    Frontier African Exploration Corporate Presentation 7 November 2013 © 2013 Tower Resources plc 1

  2. Slide 2: 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: Overview of Tower Resources

    Tower Resources Overview of Tower Resources Building a High Impact African Explorer  New management team experienced in building SADR successful E&P companies 50% of 3 Blocks 1 Onshore  New Outsourced Exploration department provides 2 Offshore 72,698 km2 Operator: Wessex critical band-width for gr

  4. Slide 4: Board & Management Team

    Tower Resources Board & Management Team Jeremy Peter Graeme Peter Philip Asher Taylor Thomson Blakey Swatman Non-Executive Director Non-Executive Director Chief Executive Officer Non-Executive Director Non-Executive Director Nigel Andrew Quinton Matharu Head Of Exploration VP- Corporate Affairs PDF

  5. Slide 5: Capital Structure

    Tower Resources Capital Structure Shareholders  Listing: AIM  Share price: 2.1p† Mr Jeremy Asher  Market capitalisation: ~ £52m Quantum Pacific Management  Issued share capital: 2,638m 10.4% Lansdowne Partners  Options & warrants: 107m 10.0% Mr Peter Taylor  Balance sheet: ~US$18m cash ‡ 9.7%

  6. Slide 6: Portfolio

    Tower Resources Portfolio Uganda SADR Representative 50% of 3 Blocks office 1 Onshore East Africa 2 Offshore regional base 72,698 km2 Operator: Wessex Cameroon Negotiating PSC terms for Dissoni Block (offshore) Madagascar Onshore Block 2102 Onshore In negotiation In negotiation Namibia 30% of PEL010

  7. Slide 7: Cameroon, Dissoni

    Tower Resources Cameroon, Dissoni Rio del Rey Basin, Offshore Cameroon  Shallow water depths: < 50m NORTH DISSONI FIELD  Two under-appraised shallow Miocene oil 25 MMbbl discoveries on block IDENAO  Upside potential in deeper toe-thrust plays RUMPI OIL DISCOVERY LEAD (analogous to adjacent Alba f

  8. Slide 8: PEL0010 - Giant Dip-closed Prospects

    Offshore Namibia PEL0010 - Giant Dip-closed Prospects  First exploration well Welwitschia #1 to spud late February 2014 by Operator Repsol (44%)  Rowan Renaissance drillship contracted  Long lead items due to arrive in Namibia end 2013  Simple 4-way dip closure with multiple reservoir sequences

  9. Slide 9: PEL0010 - Giant Dip-closed Prospects

    Offshore Namibia PEL0010 - Giant Dip-closed Prospects  Welwitschia #1 to spud late Feb 2014 NAMIBE  CPR prospective resources 9.9 Billion BOE BASIN  Multiple reservoirs, main targets: • Maastrichtian-Palaeocene sands • Albian carbonates  Maastrichtian GCOS of 23% without AVO & ALPHA 39.5% with A

  10. Slide 10: Walvis Basin - Underexplored

    Offshore Namibia, PEL0010 Walvis Basin - Underexplored  Walvis Basin is bigger than the Central Graben  Wingat #1 (2013 HRT) recovered 38o-42o API oil to  Only six wells drilled to date in c. 90,000 km² surface and confirmed the presence of at least two mature oil source rocks North Sea Fields &

  11. Slide 11: Welwitschia Prospect Play Summary

    Offshore Namibia, PEL0010 Welwitschia Prospect Play Summary (Schematic Depth Section) 1911/15-1 SEA BED (km) Welwitschia Prospect & 1911/10-1 Stacked Late Cretaceous - Early Cretaceous Early Tertiary basin floor carbonates play 1.0 sands trapped in 4-way dip closures Thick regional shales NEOGENE Ba

  12. Slide 12: Reservoir Presence: Sands in Offset Wells

    Offshore Namibia, PEL0010 Reservoir Presence: Sands in Offset Wells 1911/15-1 1911/15-1 SEA BED (km) Welwitschia Prospect & 1911/10-1 Stacked Late Cretaceous - Early Tertiary basin floor 1.0 sands trapped in 4-way dip PALAEOCENE closures NEOGENE 2.0 EO-OLIGOCENE MAASTRICHTIAN PALAEOCENE >20% 3.0 MAA

  13. Slide 13: Source Kitchens

    Offshore Namibia, PEL0010 Source Kitchens  PEL0010 sits on a regional high, that will be a NEAR TOP ALBIAN regional focus for migration and charge from a COMPOSITE REGIONAL DEPTH STRUCTURE large fetch area over the Walvis Basin, Dolphin 50 km Graben & Namibe Basin ALPHA 1911/10-1  Recent drilling

  14. Slide 14: Methane Hydrates & Surface Seeps Over Walvis Basin Source Kitchen

    Offshore Namibia, PEL0010 Methane Hydrates & Surface Seeps Over Walvis Basin Source Kitchen WALVIS BASIN NW WELWITSCHIA METHANE HYDRATES SE GAMMA & SURFACE SEEPS TWT ALPHA 2.0 3.0 NEAR TOP ALBIAN 4.0 5.0 6.0 Basin modelling indicates peak generation at 10Ma (Late Miocene - Recent), which post- 50 km

  15. Slide 15: Welwitschia Prospect - Summary

    Offshore Namibia, PEL0010 Welwitschia Prospect - Summary Prospect Description: Top Maastrichtian  4-way dip closure Far Stack (No AVOBK) Extraction + Depth  Maximum closing area is circa 1,100 km2 Contours  Very strong amplitude anomaly at Maastrichtian target reservoir  5 reservoir targets (all

  16. Slide 16: AVO Response - Maastrichtian Anomaly

    PEL0010, Welwitschia Prospect AVO Response - Maastrichtian Anomaly Palaeocene Ponded sands Shallow gas Maastrichtian anomaly Cenomanian Campanian Albian carbonates Pre- Albian/Aptian & older AVO Gradient response (I x G Product) © 2012-13 Tower Resources plc 16

  17. Slide 17: Conclusions

    Conclusions  Experienced new management team, with fresh strategy to diversify and build a high impact African explorer  “Where in the world can I find undrilled four-way closures with billion barrel potential….?” …Welwitschia #1, Feb 2014 © 2013 Tower Resources plc 17

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