Tower Resources Plc · LSE:TRP
Tower Resources — Oil Capital Conference 2018
13 slides from Tower Resources's conference presentation, Sep 4, 2018
Slide 1: Cameroon: Unlocking Value in a Producing Basin
Cameroon: Unlocking Value in a Producing Basin Oil Capital Conference 4 September 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 reaching first oil in Cameroon ! Thali license in shallow water ! 3 discovery wells already drilled by Total ! Independent reserve report to be completed in September 2018, based on reprocessed 3D ! Substantial contingent and prospective resources in Njonji discovery
Slide 4: Capital Structure
Tower Resources Capital Structure Capital Structure Shareholders Listing AIM Share price 1.60p Market capitalisation ~ £6.0m Issued share capital 377.3m Options & warrants‡ 40.5m (9.8%) Director, staff and 14.7% consultant holdings Average Daily Volume† 849,786 12 month low (at close) 0.751p 12 mont
Slide 5: Tower's Team
Tower Resources Tower’s Team ! Small committed board with significant personal investment ! Jeremy Asher Peter Taylor Graeme Thomson David M Thomas Directors own ~15% of issued share Chairman & CEO Non-Executive Director Non-Executive Director Non-Executive 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 NIGERIA Rio Del Rey Basin CAMEROON ! Underexplored sub- RIO DEL REY BASIN basin of the prolific > 2 Billion bbl / >1.4 TCF Niger Delta ! >> 34.5 Billion bbls found in whole Niger UBIT Delta Basin 2 Billion bbl OAK ! >1 billion barrels E
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 SHALLOW PROSPECTS & DISCOVERIES immediately north of the Thali block DISSONI • Developed by Perenco - reached NORTH FIELD 25 MMbbl +14,000 bpd in 2013/14 ! Und
Slide 9: Njonji Discovery
Cameroon, Thali Block Njonji Discovery • Two proven fault blocks (+ add-on prospects) NJONJI 2 • Average 35° API oil NJOM2 NJOM1B • Shallow drilling depths ING FAU LT NJOM1 (900 to 1100m) SEAL NJONJI 1 ?NON -SEALI • 30m water depth NG FA ULT? • Fault seal analysis NJONJI suggests the SOUTH Njonji 1
Slide 10: Significant Exploration Potential in Addition to Near-Term Production
Cameroon, Thali Block Significant Exploration Potential in Addition to Near-Term Production Map WEST EAST showing low risk Dissoni South Fault Blocks analogous to Dissoni North shallow Pliocene Channels (1000-1500m) Zafiro-type play, Idenao leads fault (1500-2500m) blocks Toe Thrust Anticline Idenao
Slide 11: Forward Plan
Cameroon, Thali Block Forward Plan ! Seismic Reprocessing - COMPLETE ! Interpretation & Prospect Inventory – APPROACHING COMPLETION ! Drilling ESIA - COMPLETE (Certificate of Environmental Conformance in late July) ! Well Planning & Design – APPROACHING COMPLETION 2018 2019 Q2 Q3 Q4 Q1+ REPROCESS 27
Slide 12: South Africa: Farm-out process underway
South Africa Farm-out process underway Algoa-Gamtoos (50%) acquired with Rift Petroleum ! Operator: New Age ! 3D acquired in 2014 ! 1st Renewal Period granted in Sept 2015, agreed in 2017 ! Additional geophysical work planned in 2019 ! Oil-majors in neighbouring South African licences: • Total, Exxo
Slide 13: Summary
Tower Resources Summary Focus on reaching first oil in Cameroon ! Thali license in shallow water ! 3 discovery wells already drilled by Total ! Independent reserve report to be completed in September 2018, based on reprocessed 3D ! Substantial contingent and prospective resources in Njonji discovery