2nd Jun 2025 20:04
Tower Resources PLC - oil and gas company focused on Africa - pretax loss widens to USD983,621 in 2024 from USD454,196 a year prior. Total administrative expenses reach USD980,461 compared to a credit of USD91,330 a year ago. The prior year benefits from a VAT provision release of USD1.2 million. Chair & Chief Executive Jeremy Asher says: "2024 has been a very productive year, and we have already seen some of the results in 2025. We hope that the rest of 2025 will be even better, and in particular we hope to see the NJOM-3 well spudded before the current year-end, rig availability permitting." Company adds the recent volatility in the oil price remains in ranges that still provide "excellent economic outcomes for all of our projects; and the recent reduction in oil prices has coincided with an easier market for jack-up rigs and services, which is favourable for us." Read More
