Tower Resources
Tower Resources plc is a London-based, AIM-listed independent oil and gas exploration company with a pre-revenue pan-African portfolio spanning offshore licences in Cameroon (Thali), Namibia (PEL 96), and South Africa (Algoa-Gamtoos), funding drilling via equity raises and farm-out partnerships.
- Company typePublic
- Founded2005
- HeadquartersLondon, United Kingdom
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Tower Resources does
Tower Resources plc is an AIM-listed independent oil and gas exploration company headquartered in London (134 Buckingham Palace Road, Westminster) with a pan-African asset portfolio across Cameroon, Namibia, and South Africa. Its core products are three offshore exploration licences: the 100%-held Thali Production Sharing Contract in Cameroon's Rio del Rey Basin (35.4 MMbbls risked PMean recoverable resources, planned NJOM-3 development well), the 80%-operated PEL 96 licence in Namibia's Walvis Basin (home to the billion-barrel-scale Gamma Prospect), and the 50%-held Algoa-Gamtoos licence in South Africa's deep-water Outeniqua Basin. The underlying technical workflow combines 3D seismic interpretation, basin modeling, and prospect evaluation, supplemented by third-party AI-driven seismic attribute analysis (Paradise workbench from Geophysical Insights) used to refine drilling locations at Thali.
The company is pre-revenue and does not sell products or services to end customers; its revenue model is contingent on converting exploration success into production cashflow. In the interim, Tower funds operations primarily through discounted equity share subscriptions (raising approximately £1.9 million in 2026 alone at deeply dilutive prices) and farm-out transactions, notably with Prime Global Energies, which is acquiring 42.5% of Thali and 25% of PEL 96 in exchange for funding drilling obligations. Strategic services are delivered by a lean 1-10 person team supported by Outsourced Exploration Department (OExD) services from P.D.F. Limited / EPI Group and three joint brokers (SP Angel, Axis Capital Markets, Novum Securities). The company's customers, in the practical sense, are limited to a single farm-out counterparty and host-state regulatory partners (SNH in Cameroon, NAMCOR in Namibia), making regulatory milestones — not sales pipelines — the primary near-term value driver.
Tower Resources firmographics
Firmographics- Name
- Tower Resources
- Legal name
- Tower Resources plc
- Website
- https://towerresources.co.uk
- Company type
- Public
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Tower Resources plc is a London-based, AIM-listed independent oil and gas exploration company with a pre-revenue pan-African portfolio spanning offshore licences in Cameroon (Thali), Namibia (PEL 96), and South Africa (Algoa-Gamtoos), funding drilling via equity raises and farm-out partnerships.
- Ownership category
- akta.pro rank
Tower Resources industry classification
Industry- Product category
- Upstream Oil and Gas Exploration
- NAICS
- Support Activities for Mining (2131), Drilling Oil and Gas Wells (213111)
- SIC
- Oil & Gas Field Exploration Services (1382), Crude Petroleum & Natural Gas (1311)
- akta.pro primary industry
- Mineral Rights, Leasing & Land Management (EUALAAAB)
- akta.pro secondary industry
- Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)
Keywords
Where Tower Resources is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
Tower Resources business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales
Revenue model
- Exploration and Production: Pre-revenue exploration stage company. Revenue expected from oil and gas production once exploration and development are successful. The company aims to develop oil and gas production providing operational cashflow to fund early-stage exploration costs.
- Farm-out Transactions: The company generates capital through farm-out transactions where it sells interests in its exploration licenses to partners (e.g., Prime Global Energies) in exchange for funding obligations and carried interests.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels6 records
Tower Resources product offering
Product offeringCore offering
Tower Resources is an AIM-listed independent oil and gas exploration company focused on pan-African offshore assets. It originates and holds interests in exploration licenses including the Thali PSC in Cameroon (100%), PEL 96 in Namibia (80% operated), and Algoa-Gamtoos in South Africa (50%), pursuing farm-out transactions with industry partners to fund drilling while retaining material upside exposure.
Product overview
Tower Resources is an AIM-listed independent oil and gas exploration and production company with a pan-African focus. The company operates three core assets: the Thali PSC in Cameroon (100% interest, planning NJOM-3 development well), the PEL 96 license in Namibia (80% operated interest), and the Algoa-Gamtoos license in South Africa (50% non-operated joint venture with NewAge). Tower Resources does not offer software products or digital platforms; its offerings consist entirely of oil and gas exploration and production assets.
Differentiator
Problem solved
Functional benefit
Products and services
- Thali Production Sharing Contract (PSC) Offshore shallow-water oil and gas license in the Rio del Rey Basin, Cameroon, covering 119.2 km² with water depths of 8-48 metres. Contains the Njonji discovery with multiple fault blocks and the planned NJOM-3 development well. Held at 100% interest via Tower Resources Cameroon S.A.
- PEL 96 License Offshore exploration license covering 23,297 km² in the northern Walvis Basin and Dolphin Graben, Namibia. Tower holds 80% operated interest with multiple structural and stratigraphic prospects including the Gamma Prospect.
- Algoa-Gamtoos License Offshore exploration license covering 9,369 km² in South Africa, operated by NewAge Energy Algoa (50% interest). Held by Tower subsidiary Rift Petroleum Limited (50% non-operated interest). Contains multiple deep-water leads and prospects targeting Cretaceous turbidite plays.
Quantifiable outcome
- Risked PMean recoverable resources of 35.4 million barrels at Thali block, Cameroon
- +2 more outcomes
Companies that use Tower Resources
Customer profileSegments1 record
Ideal customer profiles2 records
Tower Resources technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Tower Resources partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Prime Global Energies LimitedcoreFarm-out partner for both Cameroon (Thali PSC - 42.5% interest) and Namibia (PEL96 - 25% interest) licenses. Prime Global Energies will acquire interests in exchange for funding obligations, supporting plans to drill the NJOM-3 well in Cameroon. Ministerial approval received for Namibia farm-out in June 2026; Cameroonian approval pending with presidential involvement.
- P.D.F. LimitedcoreInternational oil and gas exploration advisory group providing Outsourced Exploration Department (OExD) services to Tower Resources. P.D.F. was acquired by EPI Group in 2016 and continues as the Geoscience function within EPI, with Mark Enfield serving as CEO of Geoscience at EPI.
- New Age Energy Algoa (Pty) LtdcoreOperator of the Algoa-Gamtoos license in South Africa, holding 50% interest alongside Tower's subsidiary Rift Petroleum Limited (50%). Tower acquired its non-operated interest through the all-share acquisition of Rift in April 2014.
- ZM Fourteen InvestmentminorLocal partner in Namibia for PEL96. A separate transaction for Tower's subsidiary to acquire an additional 5% interest from ZM Fourteen Investment remains pending and is no longer binding due to delay in completion.
- ENVOI LimitedminorManaging farm-out process for Algoa-Gamtoos license in South Africa on behalf of operator NewAge and Tower.
Scale indicators6 records
Recent moves8 records
Expansion highlights4 records
Tower Resources competitors and assessment
Company assessmentMarket position
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Tower Resources social profiles
Digital presenceTower Resources financial estimates
Financial estimateRevenue estimate
Valuation estimate
Tower Resources leadership team
Management profileNumber of profiles
Profiles4 records
Tower Resources subsidiaries and ownership
Company hierarchySubsidiaries3 records
Tower Resources funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Tower Resources M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Tower Resources
What does Tower Resources do?
Tower Resources is an AIM-listed independent oil and gas exploration company focused on pan-African offshore assets. It originates and holds interests in exploration licenses including the Thali PSC in Cameroon (100%), PEL 96 in Namibia (80% operated), and Algoa-Gamtoos in South Africa (50%), pursuing farm-out transactions with industry partners to fund drilling while retaining material upside exposure.
Is Tower Resources a public or private company?
Tower Resources is a public company. It is classified as public and is currently operating.
When was Tower Resources founded?
Tower Resources was founded in 2005. It employs 1 to 10 people.
Where is Tower Resources based?
Tower Resources is headquartered in London, United Kingdom, in the Europe region.
How does Tower Resources make money?
Two revenue lines are on record. Exploration and Production is the primary driver. The others are farm-out Transactions.
Does Tower Resources have an API?
No public API is recorded for Tower Resources.
What industry is Tower Resources in?
Tower Resources's product category is Upstream Oil and Gas Exploration. Its primary akta.pro industry code is EUALAAAB, Mineral Rights, Leasing & Land Management, with a secondary code of IMAKAKAA, Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling). Its NAICS code is 2131 and its SIC code is 1382.