Tower Resources (LSE:TRP) has boosted its Bridge Loan facility by an additional £250,000, raising the total available funding to £750,000. This increase aims to provide greater working capital flexibility as the company prepares to drill the NJOM-3 well in Cameroon. The move aligns with Tower’s broader strategy to finalize farm-out agreements in both Cameroon and Namibia, which could enhance its operational capacity and market standing.
About Tower Resources
Tower Resources plc is an AIM-listed energy firm focused on developing a diversified portfolio of oil and gas assets across Africa. The company is prioritizing short-cycle development projects in Cameroon to accelerate cash flow generation. At the same time, Tower is working to reduce exploration risk in Namibia and South Africa by acquiring 3D seismic data to support future drilling decisions.
Leave a Reply