Tower Resources pulls out of SAfrica deep water project
16th Feb 2016 09:42
(ShareCast News) - AIM-listed Africa-focused oil and gas explorer Tower Resources said it had pulled out of the South West Basin joint venture it had entered with New African Global Energy to focus on "a more balanced portfolio of proven and emerging basins". Tower said New African would reimburse i
Read moreTower Resources signs Cameroon oil and gas exploration deal
16th Sep 2015 16:07
(ShareCast News) - Tower Resources has signed a seven year offshore oil and gas exploration deal with the Cameroon government. Tower Resources chief executive Graeme Thomson said the deal on the Thali exploration block "marks a shift in our risk profile from frontier to proven basins and introduces
Read moreTower Resources raises £5.2m in share placing to finance Cameroon acquisition
15th Jul 2015 10:31
(ShareCast News) - Oil and gas explorer Tower Resources has raised £5.2m via a share placing to finance the acquisition of the Thali production sharing deal in Cameroon. The London-listed group said it has raised the funds via the issue of 2.74bn shares priced at 0.19p each. In a short statement re
Read moreTower Resources plunges on latest well result in Namibia
13th Jun 2014 13:08
Shares in Tower Resources plunged on Friday after the oil and gas group's subsidiary, Neptune Petroleum, revealed that no hydrocarbons were encountered while drilling the Welwitschia-1A well. Drilling on Welwitschia-1A, which is located offshore Namibia, has been behind schedule following both the
Read moreFriday broker round-up UPDATE
13th Jun 2014 09:23
African Minerals: Deutsche Bank reduces target price from 316p to 249p maintaining a buy recommendation. Atkins: Numis ups target price from 1650p to 1700p and keeps a buy recommendation. JP Morgan reduces target price from 1619p to 1548p and reiterates its overweight rating. Ferrexpo: Deutsche Ba
Read moreTower Resources jumps despite drilling delays
21st May 2014 11:34
Shares in Africa-focused oil and gas explorer Tower Resources bounced despite announcing a delay to the drilling of its Welwitschia-1 well offshore Namibia due to technical issues with the drilling equipment. The AIM-listed company said the financial impact on itself would "not be material", with
Read moreThursday broker round-up UPDATE
24th Apr 2014 09:19
AMEC: UBS ups target price from 1145p to 1200p maintaining a neutral rating. ARM Holdings: HSBC raises target price from 1080p to 1120p and keeps an overweight rating. Associated British Foods: HSBC increases target price from 280p to 310p and upgrades from neutral to overweight. Deutsche Bank rai
Read moreTower Resources notes slight delay to drilling offshore Namibia
22nd Apr 2014 14:17
Africa-focused oil and gas group Tower Resources said that drilling at its part-owned Welwitschia-1 well offshore Namibia is to start later than anticipated. The company said that its wholly-owned subsidiary Neptune Petroleum, which owns a 30% working interest in Welstischia, expects operator Repso
Read moreThursday broker round-up UPDATE
29th Aug 2013 09:48
Afren: Westhouse Securities shifts target price from 160p to 165p and reiterates a buy recommendation. BAE Systems: Bank of America raises target price from 328p to 412p, while staying with its underperform rating. Cape: JP Morgan takes target price from 308p to 323p and stays with its overweight
Read moreTower Resources to drill Namibian well in February
5th Jul 2013 07:18
Tower Resources said it would start drilling a well in Namibia earlier than expected in February 2014. The Aim-listed oil and gas company said it had a firm rig in place at the Welwitschia-1 well in the Walvis Basin. Crucial components including well heads and casings have been ordered or are being
Read moreFriday broker round-up
21st Jun 2013 08:34
Afren: Jefferies cuts target price from 155p to 140p and downgrades from buy to hold. Alpha Real Trust: Panmure Gordon shifts target price from 76p to 79p and retains a buy recommendation. Betfair Group: JP Morgan moves target price from 850p to 825p keeping a neutral rating. Borders & Southern P
Read moreTuesday broker round-up UPDATE
4th Jun 2013 07:25
Afren: Goldman Sachs shifts target price from 224p to 221p keeping a buy recommendation. Alent: Goldman Sachs initiates with a target price from 426p and a buy recommendation. Amerisur Resources: Goldman Sachs moves target price from 65p to 82p and stays with its neutral rating. Bahamas Petroleum
Read moreTower Resources completes Neptune farm-out agreement
31st Jan 2013 12:25
Oil and gas company Tower Resources said Thursday all conditions relating to the farm-out agreement bewteeen its subsidiary Neptune Petroleum and Arcadia Expro Namibia and Repsol Exploration were completed. As part of the agreement, Neptune released escrow funds of $5.3m to reimburse Arcadia for 30
Read moreDillistone Chairman boosts stake by 178,485 shares
10th Jan 2013 15:58
The Chairman of Dillistone, an AIM-quoted supplier of software for the international recruitment industry, has added to 178,485 shares to his stake in the company, it was announced Thursday. Mike Love, purchased the shares at 178,485 at 81.5p each, costing him £145,465. The transaction takes his s
Read moreBroker snap: Optimism fades after Chariot abandons another well
10th Sep 2012 14:21
The news that Chariot Oil and Gas's Kabeljou exploration well was plugged and abandoned as a dry hole prompted most brokers on Monday to either downgrade or put their ratings for the stock under review and significantly reduce their target prices. The Africa-focused oil and gas firm said that the w
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