Tower Resources (GB:TRP) has released an update.
Tower Resources PLC, an AIM-listed oil and gas company focusing on Africa, has announced a new subscription to raise £137,500 through issuing over 1.1 billion new shares at a slight discount, led by Chairman and CEO Jeremy Asher and another investor. The funds are earmarked for working capital and advancing projects in Cameroon, Namibia, and South Africa. Asher’s participation underscores his confidence in the company’s prospects, particularly the anticipated drilling of the NJOM-3 well later in the year.
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