TRP, to invest, or not?
Tower Resources PLC or TRP Share Price is a UK-based oil and gas exploration company that was founded in 2004. The company is focused on exploring for oil and gas reserves in Africa, specifically in the Saharan region. Tower Resources holds a number of exploration licenses in various countries, including Cameroon, Namibia, and South Africa.
One of TRP Share Price’ most notable assets is its interest in the Thali production sharing contract in Cameroon. The company has been exploring this block since 2014 and has identified multiple drilling prospects, including the NJOM-3 well which was successfully drilled in 2021.
TRP Share Price has also been exploring the Algoa-Gamtoos license offshore South Africa, where it has identified several drilling prospects. In addition, the company has a 30% interest in a Namibian license area known as PEL 96, which covers over 11,000 square kilometers.
TRP Share Price is listed on the London Stock Exchange and has a market capitalization of around £12 million as of April 2023. The company is headquartered in London and has a small team of employees and consultants focused on exploration and development activities.
TRP Share Price has had a volatile history, with periods of significant price increases and declines. Between 2005 and 2012, the company’s stock generally traded between 5p and 20p per share. However, in 2013, Tower Resources’ stock experienced a sharp increase, reaching a high of 15p in January 2014, before falling back down to around 2p per share by mid-2016.
In 2017, TRP Share Price began to recover, and the company’s share price increased steadily throughout the year, reaching a high of 7p in December. The following year, the company’s stock price continued to fluctuate, with highs of 3.5p in May and lows of 1.2p in September.
Since then, TRP Share Price has experienced further fluctuations in value, with highs of around 1.5p in early 2021, and lows of around 0.2p in mid-2021. As of April 2023, the stock is trading at around 0.5p per share.
Who is TRP or Tower Resource?
Tower Resources was founded in 2004 by Jeremy Asher, a geologist and energy industry veteran. The company’s initial focus was on exploring for oil and gas reserves in Uganda, but it soon shifted its attention to other areas of Africa.
In 2007, TRP Share Price acquired a 30% interest in the exploration license for the Thali block in Cameroon. The company spent several years conducting seismic surveys and analyzing the data before drilling its first well, Thali-1, in 2018. Although the well encountered oil and gas shows, it was ultimately deemed non-commercial. However, the data gathered from the well helped to identify additional drilling targets on the block.
In addition to its activities in Cameroon, TRP Share Price has also held exploration licenses in other African countries, including Namibia, South Africa, and Zambia. The company has focused on identifying and exploring areas with high potential for oil and gas reserves, using modern exploration techniques such as 3D seismic surveys to map subsurface structures.
TRP Share Price has faced challenges in its early years, including funding constraints and difficulties with securing exploration licenses. However, the company has persevered and continued to explore for oil and gas in Africa. Today, Tower Resources remains focused on exploring for hydrocarbons in the region, using advanced exploration techniques to identify new drilling targets and maximize the potential of its existing assets.
TRP or Tower Resource’s Main Competitors
TRP Share Price operates in a competitive industry with several other oil and gas exploration companies that operate in similar regions. Some of the company’s main competitors include Tullow Oil, Afren, Bowleven, and Sterling Energy.
Tullow Oil is a multinational oil and gas exploration company that operates in Africa, South America, and Europe. The company has a diverse portfolio of exploration and production assets and has a significant presence in many of the same countries as Tower Resources.
Afren is another exploration company that operates in Africa, with assets in Nigeria, Ghana, and other countries. The company has a focus on offshore exploration and production and has had some success in discovering new oil and gas reserves in the region.
Bowleven is a UK-based exploration company with interests in Cameroon and other African countries. The company has focused on exploring for natural gas in Cameroon and has identified several drilling targets on its assets.
Sterling Energy is another UK-based exploration company with a focus on Africa and the Middle East. The company has exploration licenses in Cameroon, Mauritania, and Iraq, among other countries.
These companies, along with others, compete with TRP Share Price for exploration licenses and resources, and any success or setbacks that Tower Resources experiences may impact its competitive positioning in the industry.
TRP or Tower Resource Investment Advantages
Investing in TRP Share Price could potentially offer exposure to the upside potential of discovering and developing new oil and gas reserves. However, investing in exploration companies like Tower Resources also comes with significant risks, including the possibility of dry wells, regulatory issues, and geopolitical risks.
It’s important to carefully consider your investment objectives, risk tolerance, and investment horizon before investing in any company, and to conduct thorough due diligence on the company and its prospects. Additionally, investing in individual stocks carries risks and diversification is recommended to manage those risks.