Tower Resources shares rise 9% on Cameroon and Namibia regulatory updates

  • Tower Resources PLC shares rose 9% after regulatory updates covering Cameroon and Namibia projects.
  • A final ministerial signature remains pending for a Namibian farm-out involving a 25% interest.
  • Tower expects to drill the NJOM-3 appraisal well offshore Cameroon in early Q2 2027.

Tower Resources PLC shares rose 9% after the company provided updates on regulatory approvals for exploration projects in Cameroon and Namibia. In Namibia, a final ministerial signature remains pending for a farm-out deal involving a 25% interest. Separately, Tower expects to begin drilling the NJOM-3 appraisal well offshore Cameroon in early Q2 2027, following progress on approvals to extend its Thali licence and complete a proposed 42.5% farm-out to Prime Global Energie. An appraisal well evaluates the size and commercial potential of a known hydrocarbon discovery, while a farm-out transfers part of a project interest to another company.

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