{"id":10895,"date":"2021-09-23T10:07:33","date_gmt":"2021-09-23T10:07:33","guid":{"rendered":"https:\/\/www.oilnewskenya.com\/?p=10895"},"modified":"2021-09-23T10:07:33","modified_gmt":"2021-09-23T10:07:33","slug":"cameroon-tower-resources-completes-thali-psc-farm-out-update","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-tower-resources-completes-thali-psc-farm-out-update\/","title":{"rendered":"CAMEROON: Tower Resources Completes Thali PSC Farm-out Update"},"content":{"rendered":"<p class=\"cx\"><span class=\"cp\">Tower Resourceshas announced that the documentation of its farm-out to Beluga Energy Limited\u00a0 of a 49% non-operating working interest in its Thali Production Sharing Contract\u00a0 in Cameroon, conducted through its wholly-owned subsidiary Tower Resources Cameroon S.A, is now finalised, and the package of documents is being submitted to the <\/span><span class=\"co\">Minister of Mines, Industry and Technological Development (MINMIDT) today as per the Cameroon Petroleum Code.<\/span><span class=\"cp\">\u00a0<\/span><\/p>\n<p class=\"cx\"><span class=\"cp\">Completion of the farm-out is still subject to two conditions precedent: the financing contingency requiring Beluga&#8217;s shareholders&#8217; approval, and the MINMIDT approval. The Company will notify the market when both conditions precedent have been met.<\/span><\/p>\n<p class=\"cy\">Jeremy Asher, Chairman and Chief Executive Officer, commented:<\/p>\n<p class=\"cx\"><span class=\"cl\">&#8220;<\/span><span class=\"cl\">We cannot be sure how long the MINMIDT approval may take as it can be as long as 60 days, but we hope it will come much sooner, allowing us to complete the farmout sooner. But in the meantime we are moving forward with contract discussions regarding the rig and services, subject to the MINMIDT approval and conclusion of the farmout in due course.&#8221;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tower Resourceshas announced that the documentation of its farm-out to Beluga Energy Limited\u00a0 of a 49% non-operating working interest in its Thali Production Sharing Contract\u00a0 in Cameroon, conducted through its &hellip; <a href=\"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-tower-resources-completes-thali-psc-farm-out-update\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":10141,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[7442,11,7444],"tags":[9612,387,7697,2541],"class_list":["post-10895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-countries","category-top-news","category-west-africa","tag-beluga","tag-cameroon","tag-thali","tag-tower-resources","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Cameroon-Thali.png?fit=720%2C456&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-2PJ","jetpack-related-posts":[{"id":11210,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-tower-resources-yet-to-get-approval-following-thali-psc-farm-out\/","url_meta":{"origin":10895,"position":0},"title":"CAMEROON: Tower Resources Yet To Get Approval Following Thali PSC Farm-out","author":"","date":"November 22, 2021","format":false,"excerpt":"60 days since the\u00a0Minister of Mines, Industry and Technological Development was formally requested for approval of a transaction of the type its farm-out to Beluga Energy Limited of a 49% non-operating working interest in its Thali Production Sharing Contract (PSC) in Cameroon there is yet to be any communication according\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Cameroon-Thali.png?fit=720%2C456&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Cameroon-Thali.png?fit=720%2C456&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Cameroon-Thali.png?fit=720%2C456&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Cameroon-Thali.png?fit=720%2C456&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":10714,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-tower-resources-completes-thali-psc-farm-out-to-beluga-energy\/","url_meta":{"origin":10895,"position":1},"title":"CAMEROON: Tower Resources Completes Thali PSC Farm-out to Beluga Energy","author":"","date":"August 10, 2021","format":false,"excerpt":"Tower Resources has executed a binding Heads of Agreement (HoA) in respect of a farm-out to Beluga Energy Limited (Beluga) of a 49% non-operating working interest in its Thali Production Sharing Contract (PSC) in Cameroon, conducted through its wholly-owned subsidiary Tower Resources Cameroon S.A (TRCSA). The key economic elements of\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Cameroon-Thali.png?fit=720%2C456&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Cameroon-Thali.png?fit=720%2C456&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Cameroon-Thali.png?fit=720%2C456&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2021\/03\/Cameroon-Thali.png?fit=720%2C456&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":14220,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-tower-resources-receives-extension-of-period-of-thali-license\/","url_meta":{"origin":10895,"position":2},"title":"CAMEROON: Tower Resources Receives Extension of Period of Thali License","author":"","date":"February 10, 2024","format":false,"excerpt":"Tower Resources has received formal notification from the Minister of Mines, Industry and Technological Development in\u00a0Cameroon\u00a0(MINMIDT) of the extension of the First Exploration Period of the Thali production-sharing contract to 4th\u00a0February 2025, in accordance with the Company's PSC and the Cameroon Petroleum Code, and\u00a0with the approval of the President of\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/02\/Thali-License.webp?fit=604%2C376&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/02\/Thali-License.webp?fit=604%2C376&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2024\/02\/Thali-License.webp?fit=604%2C376&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":13615,"url":"https:\/\/www.oilnewskenya.com\/index.php\/tower-resources-provides-update-on-its-its-thali-production-sharing-contract\/","url_meta":{"origin":10895,"position":3},"title":"CAMEROON: Tower Resources Provides Update on its  its Thali Production Sharing Contract","author":"","date":"April 28, 2023","format":false,"excerpt":"Highlights: \u00b7\u00a0\u00a0\u00a0\u00a0Applied for a one-year extension of the initial exploration period of the PSC, following positive discussions with the\u00a0Minister of Mines, Industry and Technological Development and (MINMIDT) and the Prime Minister of the\u00a0Republic of Cameroon. \u00b7\u00a0\u00a0\u00a0\u00a0Discussions continue with rig owners and operators with the aim to secure rig availability in\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Cameroon-Thali-PSC.png?fit=800%2C503&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Cameroon-Thali-PSC.png?fit=800%2C503&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Cameroon-Thali-PSC.png?fit=800%2C503&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2023\/04\/Cameroon-Thali-PSC.png?fit=800%2C503&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":14615,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-namibia-tower-resources-reports-farm-out-in-its-thali-license-and-offshore-pel96\/","url_meta":{"origin":10895,"position":4},"title":"CAMEROON\/ NAMIBIA: Tower Resources Reports Farm-out in its Thali license and offshore PEL96","author":"","date":"January 13, 2025","format":false,"excerpt":"Tower Resources announces that it has executed two farm-out agreements and associated documentation with Prime Global Energies Limited for minority, non-operated interests in its Thali license, offshore\u00a0Cameroon, and PEL96 offshore\u00a0Namibia. Through its wholly-owned subsidiary, Tower Resources Cameroon S.A., the Company has agreed to farm-out a 42.5% non-operated interest in the\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/01\/Tower-Resources.webp?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/01\/Tower-Resources.webp?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/01\/Tower-Resources.webp?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/01\/Tower-Resources.webp?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2025\/01\/Tower-Resources.webp?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":8454,"url":"https:\/\/www.oilnewskenya.com\/index.php\/cameroon-tower-resources-says-heads-of-terms-with-oillr-pty-ltd-progressing-towards-completion\/","url_meta":{"origin":10895,"position":5},"title":"CAMEROON: Tower Resources Says Heads of Terms with OilLR Pty Ltd Progressing Towards Completion","author":"","date":"June 30, 2020","format":false,"excerpt":"Tower Resources plc has provided an update regarding the farm-out process in respect of its Thali production-sharing contract (the \"PSC\") in Cameroon conducted through its wholly-owned subsidiary Tower Resources Cameroon SA. The binding Heads of Terms with OilLR Pty Ltd (the \"HoT\"), which was signed on 28 February 2020 and\u2026","rel":"","context":"In &quot;Countries&quot;","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/thali-block-tower-resources-664x476-1.jpg?fit=664%2C476&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/thali-block-tower-resources-664x476-1.jpg?fit=664%2C476&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/06\/thali-block-tower-resources-664x476-1.jpg?fit=664%2C476&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=10895"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10895\/revisions"}],"predecessor-version":[{"id":10896,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/10895\/revisions\/10896"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/10141"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=10895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=10895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=10895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}