Stock data
| Market cap. | £51.5m |
| Last close | 4.20p |
| High / Low (52 weeks) | 9.1p / 2.6p |
| Stock market listing | AIM |
| Forecast net cash (US$m) | 2.3 |
| Forecast gearing ratio (%) | N/A |
| Team | Resources - Oil & Gas |
| Sector | Oil & Gas |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | 42.37 | 36.59 | (20) |
| Relative * | 35.61 | 27.51 | (17.42) |
* % Relative to local index
Other companies covered in sector
| Y/E Dec | Revenue (US$m) | EBITDA (US$m) | PBT (US$m) | EPS (c) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2009A | 0.0 | (0.7) | (0.7) | (0.10) | N/A | N/A |
| 2010A | 0.0 | (1.1) | (1.1) | (0.11) | N/A | N/A |
| 2011E | 0.0 | (1.3) | (1.3) | (0.11) | N/A | N/A |
| 2012E | N/A | N/A | N/A | N/A | N/A | N/A |
Last updated on 11/01/2012
Latest research
Uganda well go ahead
Flash note | Oil & Gas | 09/01/2012
Supergiant potential
Update | Oil & Gas | 06/07/2011
Tower Resources - On schedule
Flash note | Oil & Gas | 13/04/2011
Positive picture
Update | Oil & Gas | 15/02/2011
Operations on track
Flash note | Oil & Gas | 10/12/2010
Bullish Namibia CPR
Update | Oil & Gas | 04/08/2010
Disappointing Avivi-1 well
Flash note | Oil & Gas | 25/02/2010
Frontier exploration play
Outlook | Oil & Gas | 13/01/2010
Investment summary
Tower has arranged a $15.5m SEDA agreement with a fund managed by Yorkville Advisors, that will enable the Mvule-1 well in Uganda to be drilled on schedule in February. The new financing will also underpin corporate overheads for the foreseeable future. Mvule-1 will target an 80mm barrel recoverable prospect in the Albertine Basin to the north of the large Tullow finds and follows a great deal of preparatory exploration work and two earlier dry wells. Tower believes that Mvule-1 is its most de-risked well in Uganda to date.
Last updated on 09/01/2012
Industry outlook
A wave of drilling activity is planned towards the end of 2011/early 2012 offshore Namibia. The Brazilian independent, HRT, is scheduled to drill in 2012 and Petrobras/Chariot in Q411 and Q112.
Last updated on 09/12/2011
Key management
| Jeremy Asher, Chairman |
| Peter Kingston, CEO |
Company address
| 5 Charterhouse Square London EC1M 6PX United Kingdom +44 (0) 207 253 6639 View website |
