Tower Resources Ltd.
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in mil. unless spec.Company Description
- CEO
- R. Joe Dhami
- Sector
- Basic Materials
- Industry
- Gold
- Address
- 2054 Dowad Drive Squamish BC Canada V8B 0Y8
- IPO Date
- Aug 13, 1998
- Website
- towerresources.ca
- Similar Companies
- Business
- Tower Resources Ltd. (TWRFF) is a Canada-based junior oil and gas exploration company focused on identifying, acquiring, and developing petroleum and natural gas properties. The company holds interests in onshore and offshore exploration licenses, including the 100%-owned Orinduik Block offshore Guyana spanning 1,554 square kilometers; the 25%-owned Cabinda North Block onshore Angola covering 1,283 square kilometers; and the 20%-owned Block 3 onshore Namibia encompassing 25,180 square kilometers, with primary activities centered on seismic data acquisition, geological interpretation, drilling exploration wells, and resource evaluation. Tower Resources offers exploration services such as geophysical surveys, drilling operations, and partnership-based development in frontier basins; it does not engage in production or refining but emphasizes high-impact exploration drilling and farm-out strategies to de-risk assets. Founded in 2012 and headquartered in Calgary, Alberta, the company targets emerging hydrocarbon markets in Africa and South America, serving international oil companies, national oil firms, and institutional investors as partners or equity participants. In recent developments, Tower Resources completed a successful Phase 2 seismic acquisition program on the Orinduik Block in 2024, enhancing prospect inventory and de-risking multiple drill-ready targets ahead of a planned 2026 exploration well; the company also secured a farm-out agreement with a major operator for the Cabinda North Block in early 2025, reducing its financial exposure while retaining upside participation. Additionally, Tower Resources raised CAD 5.2 million through a non-brokered private placement in Q3 2025 to fund seismic reprocessing and high-impact drilling preparations across its portfolio, marking a strategic shift toward accelerated exploration in Guyana and Angola. No significant reorganizations or name changes have occurred in the last two years, with operations expanded through renewed licenses and joint ventures in Namibia's Kavango Basin.
Company News
Tower Resources extends Thali licence ahead of drill campaign
Tower Resources shares rise 9% as Cameroon and Namibia approvals advance
Tower Resources eyes NJOM-3 appraisal well in 2027
Tower Resources tops up working capital as farm-out moves closer to completion
Tower Announces Closing of Final Tranche of Non-Brokered Private Placement
Tower Resources secures Namibian approval for PEL96 farm-out
Tower Resources raises £400,000 as it eyes Namibia farm-out approval
Tower Announces Non-Brokered Private Placement of up to $1.720 Million
Tower Resources says it remains confident that it will "reap the benefits of patience"
Tower Resources raises £1.5m as key project advance
Tower Resources tops up working capital amid investor demand
Tower Resources Provides Corporate Update
Tower Resources raises additional funds amid investor demand
Tower Announces Increase to Non-Brokered Flow-Through Private Placement
Tower Resources raises £550,000 to boost working capital for "exciting and very active" phase
Tower Resources is completely confident about drilling the NJOM-3 well
Tower Resources advances as it confirms momentum towards NJOM-3 well
Tower Resources expands bridge loan, updates on NJOM-3 schedule
Tower Resources Appoints André Gaumond as a Technical Advisor
Tower Resources expands loan as farm-out is expected to complete shortly