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Tower Resources ( (GB:TRP) ) has shared an update.
Tower Resources has announced transformational farm-out agreements with Prime Global Energies Limited for its Thali license in Cameroon and PEL96 in Namibia. These agreements will see Prime acquiring minority, non-operated interests in both licenses, which will provide Tower with significant cash contributions to fund key drilling operations and enhance its liquidity. This strategic partnership is expected to drive forward Tower’s work programs and strengthen its industry positioning, while also opening up opportunities for future collaborations with Prime in Cameroon.
More about Tower Resources
Tower Resources plc is an AIM-listed oil and gas company with a focus on African operations. The company is involved in the exploration and development of offshore oil and gas licenses, with a particular emphasis on its projects in Cameroon and Namibia.
YTD Price Performance: -5.00%
Average Trading Volume: 623,030,457
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £9.01M
Find detailed analytics on TRP stock on TipRanks’ Stock Analysis page.
