Tower Resources is focused on building a production-led, African-based, conventional oil & gas group, which intends to have a balanced portfolio ranging from exploration through appraisal to production, primarily through its own origination of opportunities and their organic development, but also via the inorganic route where appropriate acquisition opportunities arise.
The Company aims to achieve this through:
- Originating high-potential, entry stage, exploration and appraisal licenses with large equity interests (50-100%) that provide the flexibility to farm-out whilst retaining a material exposure in the event of success;
- Holding smaller equity stakes or royalty interests in production or potential production, whether developed internally or acquired; and
- Maintaining the capacity to operate throughout the exploration and appraisal phase of a
Exploration success is transformational in terms of shareholder value creation in the E&P sector, but in the early stagesrequires funding via partnering with major industry players or shareholder equity; both of which are subject to market conditions. To balance risk across the portfolio, Tower aims to develop oil & gas production thereby providing operational cashflow to fund its early-stage exploration costs.