Tower Resources is building an African-based exploration and production 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.
The company aims to achieve this through:
. Originating high-potential, entry stage, exploration and appraisal licences 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;
. Maintaining the capacity to operate throughout the exploration and appraisal phase of a licence.
Cameroon, Namibia, South Africa & Western Sahara.
Jeremy Asher BSc (Econ), MBA, MEI - Chairman and Chief Executive Officer
Jeremy Asher, aged 59, in addition to his role in Tower, is Chairman of Agile Energy Limited, a privately held energy investment company, and a director of several other energy-related companies including NYSE-listed Pacific Drilling SA, where he chairs the Remuneration Committee, Better Place BV (a private company developing infrastructure to support mass deployment of electric vehicles), and until 2010, AIM-listed Gulf Keystone Petroleum Ltd. He is also a member of the London Business School's UK regional advisory board and the Engineering Advisory Board of Imperial Innovations, the commercial arm of Imperial College. Following several years as a management consultant, he ran the global oil products trading business at Glencore AG and then acquired, developed and sold the 275,000 b/d Beta oil refinery at Wilhelmshaven in Germany. Between 1998 and 2001 he was CEO of PA Consulting Group, and since that time has been an investor and director in various public and private companies.
Peter Taylor BSc (Hons), C.Eng, MIMechE - Non-Executive Director
Peter Taylor, aged 70, is Joint Chairman of TM Services Ltd, an international oil and gas consulting company. In 1991 he was a founder and director of TM Oil Productions Ltd which became Dana Petroleum Plc. and one of the leading UK oil and gas exploration companies before being taken over in 2010 by KNOC for £2bn. He was founder member of Consort Resources Ltd, a significant North Sea gas transportation and production company and was also a founder and director of Planet Oil Ltd, which reversed into Hardman Resources in 1998. Planet held various interests including Mauritania, Guyane (formerly French Guiana) and Uganda. He was a founding member and director of Star Petroleum Plc which was incorporated into Global Petroleum Ltd, and also a founding member of Neptune Petroleum Ltd which was acquired by Tower. He is a director of Global Petroleum Ltd, listed on the ASX and AIM. He was co-founder of Jupiter Petroleum Ltd, which has assets in offshore Namibia and Juan de Nova. Jupiter was sold to Global in 2011. He is Chairman of the Remuneration Committee.
David M Thomas, Independent Non-Executive Director
Mr Thomas is a geologist with over 30 years of experience in the oil and gas industry, primarily in North and West Africa. After working in Libya for Occidental Petroleum and Tunisia for Tenneco (now British Gas) in the 1970s and 1980s, Mr Thomas returned to London as International Chief Geologist for Kuwait Petroleum Corporation and later founded a consulting company offering a range of petroleum advisory services. Mr Thomas served most recently as managing director of MedOil PLC and has been a director of AIM-quoted Thalassa Holdings since 2008.
Tower Resources plc
140 Buckingham Palace Road
London SW1W 9SA
Tel: +44 20 7157 9625
|Peel Hunt LLP||74,245,332||13.12%|
|David & Monique Newlands||45,000,000||8.0%|
140 Buckingham Palace Road
London SW1W 9SA
Nominated Adviser and Broker
SP Angel Corporate Finance LLP
35 Maddox Street
London W1S 2PP
Auditors and Reporting Accountants
UHY Hacker Young
4 Thomas More Square
London E1W 1YW
Solicitors to the Company
Watson, Farley & Williams LLP
15 Appold Street
London EC2A 2HB
Link Market Services Limited
34 Beckenham Road
Kent BR3 4TV
Barclays Bank Plc
One Churchill Place
London E14 5HP