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Tower Resources ( (GB:TRP) ) has shared an announcement.
Tower Resources has expanded its Bridge Loan by £250,000, bringing the total to £750,000, to enhance working capital flexibility for its operations in Cameroon. This financial move supports the company’s preparation for drilling the NJOM-3 well and aligns with its strategic focus on completing farm-outs in Cameroon and Namibia, potentially impacting its operational and market positioning positively.
More about Tower Resources
Tower Resources plc is an AIM-listed energy company focused on building a balanced portfolio of energy opportunities in Africa, primarily in oil and gas exploration and production. The company is currently concentrating on advancing operations in Cameroon to generate cash flow through short-cycle development and rapid production, while also de-risking exploration licenses in Namibia and South Africa by acquiring 3D seismic data.
Average Trading Volume: 350,580,641
Technical Sentiment Signal: Hold
Current Market Cap: £9.09M
Learn more about TRP stock on TipRanks’ Stock Analysis page.