Tower Resources Plc · LSE:TRP
Tower Resources — Investor Presentation (November 2017)
16 slides from Tower Resources's investor presentation, November 2017
Slide 1: Cameroon: Unlocking value in a producing basin
Cameroon: Unlocking value in a producing basin November 2017 © 2017 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: Tower's Team
Tower Resources Tower’s Team ▪ Small committed board with significant personal investment Jeremy Asher Peter Taylor Graeme Thomson David M Thomas Chairman & Non-Executive Non-Executive Non-Executive ▪ Directors own ~14% of issued share CEO Director Director Director capital ▪ Staff with the company
Slide 5: Thali Block
Tower Resources Cameroon, Rio del Rey Basin Thali Block THALI PSC © 2017 Tower Resources plc 5
Slide 6: Thali Block – proven plays in Niger Delta
Cameroon, Rio del Rey Basin Thali Block – 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.
Slide 7: 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 • Developed by Perenco – planned to recoverable reserves reach 12,500 bpd of 35o API oil • Came
Slide 8: Significant Exploration Potential in Addition to Near-Term Production
Cameroon, Thali Block Significant Exploration Potential in Addition to Near-Term Production Forward Programme ▪ Reprocess existing 3D seismic to allow better resolution of shallow plays plus imaging of deeper section ▪ Update and high-grade prospect inventory ▪ Initial drilling focus to reach early
Slide 9: Forward Plan
Tower Resources 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 2018 Q
Slide 10: 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 11: Appendix
Tower Resources Appendix ▪ Cameroon – Thali block history and Reprocessing Area ▪ Zambia ▪ South Africa © 2017 Tower Resources plc 11
Slide 12: 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 13: Potential Seismic Reprocessing Area
Thali Block Potential Seismic Reprocessing Area H48 SUD (1991) POTENTIAL REPROCESSING AREA ~500 km² DIM1 BOLONGO (2010) MIM1 DBM3 KOM1 DBM1 LOKELE DBM2 KOM2 (1991) Key wells © 2017 Tower Resources plc 13
Slide 14: 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 source Historic focus 25-30yrs and reservoir but no oil & gas ago in Luangwa Basin – exploration wells, nor even any Only two wells drilled seismic data. ▪ Excellent potential for a
Slide 15: 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
Slide 16: 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
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