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Tower Resources ( (GB:TRP) ) just unveiled an announcement.
Tower Resources has announced an expansion of its Bridge Loan by £250,000, bringing the total to £1,000,000, to provide working capital for the drilling of the NJOM-3 well on the Thali license in Cameroon. This move is part of the company’s strategy to maintain its drilling schedule amid ongoing processes for license extension and farm-out approval, highlighting its commitment to advancing operations in Africa’s energy sector.
More about Tower Resources
Tower Resources plc is an AIM-listed energy company focused on building a balanced portfolio of energy opportunities in Africa, particularly in the oil and gas sector. The company is currently concentrating on advancing its 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 through the acquisition of 3D seismic data.
Average Trading Volume: 374,404,690
Technical Sentiment Signal: Hold
Current Market Cap: £10.55M
Learn more about TRP stock on TipRanks’ Stock Analysis page.