Web Site : http://www.taghmenenergy.com/

Email : info@taghmenenergy.com

New September 2005 Investor Presentation (MS Powerpoint);

http://www.taghmenenergy.com/documents/taghmen_09_05.pps


Read about the new exciting and potentially massive Belize Block 19:

http://www.ciglobal.com/document.asp?DocumentID=109

http://www.gtlaw.com/pub/pr/2001/millerm01a.htm





Taghmen Energy's subsidiary is Petrolatina

Taghmen Energy is an early stage play on being first mover in Guatemala, which management describes as one of the worlds most under-explored oil and gas regions with a proven reserve base of 87 billion barrels. The geology is said to be similar to southern Mexico, which currently produces 3.5 million barrels of oil per day.No extra funds were in the flotation which valued the company at 35 million. The move was sponsored by Canaccord Capital which has enjoyed a good reputation promoting natural resources companies
____________________________________________________________________

Significant stakeholders now include Fidelity, RAB, Metage and Millennium.

Major Shareholders : Shares in issue: 53.95M

Gregory Charles Smith............................13,600,001......25.20% Dir
Millennium Global High Yield Fund Ltd..........8,264,959.......15.32%
Chasm Lake Management Services LLC.......5,615,385.......10.41%
RAB Energy Fund Ltd...............................4,480,770........8.30%
Fidelity Investment Services Limited...........4,745,755........8.79%
RAB Special Situations LP.........................3,713,077........6.88%
Moore Capital Management Inc..................2,538,462........4.70%
Meridian Natural Resources High Yield Fund..2,423,078........4.49%
Metage Funds Ltd...................................1,897,470........3.51%
James De Vaux Guiang.............................1,000,000........1.85% Dir
Nicholas Hugo Gay...................................750,000..........1.39% Dir
John McNeil Scott....................................750,000..........1.39% Dir

Total held by major shareholders = more than 92.13%

Remaining percentage available = approx 4.5 million shares
____________________________________________________________________

Drilling Update

RNS Number:9432U
Taghmen Energy PLC
01 December 2005
TAGHMEN ENERGY Plc

Las Casas-Well 3X produces high quality oil

Taghmen Energy Plc ("Taghmen" or the "Company") an independent oil and gas
exploration, development and production company, focused on Latin America, which
listed on AIM in January 2005 announces the result of the initial test of its
Well 3X. The well is currently producing 40o API oil at an estimated rate of
100 barrels of oil per day ("bopd") under "swabbing" operations.

Based on the Company's current understanding, the well will be economic to
produce and together with the completion of a successful sidetrack of Well 1X in
early 2006, will lead to the commercial development of the Las Casas Field,
within Licence 6-93.

Well 3X

Well 3X is Taghmen's first oil discovery and the first new exploration well
drilled on the Las Casas structure within Licence 6-93 in Guatemala. It was
drilled to a total depth of 9,300 feet. The well was logged and three pay zones
were identified. Only one of these has been perforated so far.

The well has now been "swabbed" for five days resulting in a calculated daily
flow rate of 100 bopd. It is planned to perform an acid treatment to stimulate
production further. This will be followed by the installation of a Progressive
Cavity Pump and the well will then be put on a long term production test. It is
anticipated that the use of a pump will increase production from the well
materially. The use of pumps to maintain production is standard procedure in
Guatemala.

With an API of 40o, this is the highest quality oil found to date in Guatemala
and should therefore command a price close to world prices.


Forward Programme

The necessary infrastructure exists on site to allow the immediate production,
storage and sale of the crude oil produced.

In addition to the sidetrack of Well 1X, the Company is also planning a seismic
programme over the remainder of Licence 6-93, to confirm further drilling
locations.

Nicholas Gay, President and CEO of Taghmen Energy Plc:

"This is a significant development for Taghmen. We believe that the continuation
of further testing and cleaning up of the well will prove to be beneficial to
increase the production and maintain the high quality of hydrocarbons that are
apparent in the Las Casas structure."
____________________________________________________________________

Las Casas Weather Link : http://www.fallingrain.com/world/GT/14/Las_Casas.html
____________________________________________________________________

Glossary of terms used in the oil business : Link Here
____________________________________________________________________

ABOUT TAGHMEN ENERGY

Management
125 years of combined oil and gas industry experience
Various members of the management group have previously worked together and they have extensive international oil and gas experience in a number of projects within both developing and developed countries including Russia, Egypt, Kazakhstan, Canada, Azerbaijan and the UK.
The Directors consider that the key strength of the Groups management team lies in its track record in finding and developing oil and gas fields in developing countries, accessing the necessary operating personnel and developing local staff.

Nicholas Gay and John Scott worked together in Russia at Bitech. While at Bitech, Bitech acquired Vanguard Oil Corporation where, together with Geoffrey Killick, they discovered and developed the Rabeh East oil field in Egypt, which was at the time estimated by Bitechs management to have proved and probable in excess of 20 million barrels of recoverable oil.
Separately, Nicholas Gay was a key player in the development and success of PetroKazakhstan Inc (formerly Hurricane Hydrocarbons Limited in Kazakhstan), while John Scott was Chief Operating Officer of Arawak Energy Corporation, a Canadian publicly listed company, in Azerbaijan and was instrumental in the development of that company.
Michael Realini, currently President of Mexpetrol, has worked in Guatemala between 1992 and 1998 as the Vice-President of Exploration of Pentagon Petroleum Inc. He was appointed as the General Manager of Mexpetrol in 2002.
Gregory Smith and Nicholas Gay have relationships with the financial and banking community and have a proven track record in raising both equity and debt finance.
History
The company was formed in July 2004 to acquire and pursue exploration, development and production of oil and gas assets with an initial focus in Latin America.

In 2004, the company raised .3 million (net of costs) through private placements principally with institutional investors to fund the acquisition of Mexpetrol which owns the licence in Guatemala and subsequent operations related thereto.
The Companys current operations comprise the exploration and development of oil and gas reserves in Guatemala, in particular the Las Casas 6-93 concession covering 130,186 hectares in the Peten basin of Guatemala.
The Las Casas lincence was obtained through the purchase of Mexpetrol (Guatemala) Corporation for an aggregate consideration of US.3 million.
Initially Guatemala
Guatemala, a relatively under-explored region, with a high level of prospectivity:
Close proximity to to Mexico and its highly productive fields
The oil and gas fields along the southern margin of the south Peten Basin including Rubelsanto and the area covered by the license lie in a similar geological setting to the oil and gas fields in southern Mexico.
The reservoirs under these fields are of the same age and the two areas have undergone a similar geological history. Many comparisons can therefore be made between the two areas as seismic and sub-service data suggest that the Chiapas southwestern geological trend extends into the Southern Peten (Chapayal) basin. The directors consider reservoir deposits Reefel such as are proven in Mexico have not yet been drilled in Guatemala and could be a valid exploration target in Guatemala.
The economy of Guatemala is growing and there is a strong demand and need for oil and gas energy. The recently elected Government is keen to promote inward investment in general and specifically from small entrepreneurial companies, such as Taghmen.

Licenses
The Company holds the exploration and production licence to the Las Casas 6-93 concession which allows for the exploration and development of the property covering a total of 323,000 acres in the Peten Basin.
The Licence was granted in October 1993 for a 25 year period.
The current 2004 work programme calls for the work over of the 2X well and the drilling of the 3X well, while that for 2005 requires the workover of the 1X well and the drilling of the 4X well.
The licence is issued as production sharing agreement with royalty based on the API of the crude and profit shares governed by the production levels.
A new licencing round is set to to take place in Guatemala in early 2005. The Company intends to bid in the next licencing round.
Research links ;

http://www.taghmenenergy.com/documents/taghmen_float.pps

http://www.resourceinvestor.com/pebble.asp?relid=8052

http://www.taghmenenergy.com/documents/taghmen_aim_listing.pdf

http://www.findarticles.com/p/articles/mi_m3159/is_8_220/ai_55822340/pg_3

http://www.costaricabusinessclub.com/187/english/news.html

http://www.mbendi.co.za/a_sndmsg/news_view.asp?I=67434&PG=23

http://www.ihsenergy.com/company/pressroom/articles/files/07-05-worldwatch.pdf

http://www.ideasintl.com/news/Articles/TaghmenEnergy.htm

Nice buys ticked through yesterday, sure there will be some more today.

Interesting reading this from 1999. Was someone mentioning a target of only 500 bopd ? Looks like it is known possible from Las Casas 1X flows of around 2500 bopd. So with targets at 20% of known possiblities, whats does that mean ?!

Now I see why they set their sights on Guatemala !


August 1999

Guatemala had disappointing results with its second licensing round held last fall. With only two bidders, Perez Companc and Norcen (later acquired by Union Pacific Resources, UPR), the country chose to suspend its third bidding round indefinitely. UPR, the country's leading producer, continues development in the northwestern Peten basin, drilling seven infill wells at Xan field in 1998 with plans to drill four exploration wells in 1999.

Canada's Enterprise Development Corp. tested its Las Casas 1X well in September 1998. The well flowed 38 [degrees] API crude with wet gas at rates up to 2,500 bopd. Testing was suspended to procure higher-capacity test equipment. The company was optimistic that the well will be deemed commercial. The company also plans a horizontal sidetrack of the Las Casas 2x well.

Shareholders :

Shares in issue: 49.9m US$0.10 Ords

Major Shareholders

Gregory Charles Smith 13,600,001 27.24% Dir
Millennium Global High Yield Fund Ltd 7,153,848 14.33%
Chasm Lake Management Services LLC 5,615,385 11.25%
RAB Energy Fund Ltd 4,480,770 8.98%
RAB Special Situations LP 3,713,077 7.44%
Moore Capital Management Inc 2,538,462 5.08%
Meridian Natural Resources High Yield Fund 2,423,078 4.85%
Fidelity Investment Services Limited 2,279,573 4.57%
Metage Funds Ltd 1,897,470 3.80%

Other Directors

James De Vaux Guiang 1,000,000 2.003% Dir
Nicholas Hugo Gay 750,000 1.502% Dir
John McNeil Scott 750,000 1.502% Dir

Taghmen Energy PLC
01 March 2005


TAGHMEN ENERGY Plc

www.taghmenenergy.com


OPERATIONS UPDATE


Taghmen Energy Plc ('Taghmen' or the 'Company') an independent oil and gas
exploration, development and production company, focussed on Latin America,
announces that it has recently commenced operations in Guatemala.


At the time of listing the Company advised that it was planning to work-over two
existing wells. Las Casas 1X and 2X, complete cased hole logs and seek to
establish production from these wells. Operations have now commenced and the two
wells are in the last stage of preparation before logging. This is expected to
take place within the next few days. The cost of the work programme is being
funded from existing resources.


In addition, the Company has entered into a three well contract with Roll'n
Oilfield Ventures Limited ('Roll'n') for the use of a Dreco drilling rig. The
rig is currently being mobilised and is expected to arrive in Guatemala in late
March. The first well, Las Casas 3x, has a planned 'spud' date of mid - April.
The well is expected to take 45 days to complete.


Roll'n has agreed to settle the mobilisation fee primarily in shares of the
Company. These will be issued at the listing price of 0.70 (approximately US
$1.30) per share, which is equivalent to the market price.


In presentations held last week in Houston and London, the Guatemalan Government
announced that the expected licencing round will take place over the next few
months, with bids needing to be submitted in early May and announcement of award
in mid June. The Company intends to bid in this licencing round.


Taghmen continues to evaluate a number of opportunities for exploration and
development within Latin America.

Nicholas Gay, Chief Executive of Taghmen Energy commented:


' We are pleased that our work over programme in Guatemala is progressing in
line with initial projections. We hope to have the results of the Las Casas 3x
well by the end of the first half of the year.


We are committed to developing Taghmen into a leading Latin American exploration
and production company and are making good progress in evaluating a number of
potential opportunities.'


Taghmen listed on AIM in January 2005. Its current oil and gas assets in
Guatemala comprise the Las Casas 6-93 concession covering 130/186 hectares in
the Peten Basin of Guatemala which, based on a recent independent evaluation, is
estimated to contain potential gross reserves of approximately 29.6 million
barrels.

1 March 2005


For further information, please contact:

Taghmen Energy Nicholas Gay,
Nicholasgay@taghmenenergy.com

+44(0)2072974360

www.taghmenenergy.com
President & CEO

Pelham Public Relations James Henderson
James.henderson@pelhampr.com

+44(0)2077436673

Charles Vivian
Charles.vivian@pelhampr.com

+44(0)2077436672

Notes to Editors

Details on the Guatemalan Licencing Round are set out below.

The Licencing Round consists of two blocks. These are located to the west of
Taghmen's existing licence and are designated as Area 6-2005 (Rubelsanto) and
7-2005 (Tortugas/Atzam).

Area 6 - 2005 (Rubelsanto)

This area contains three anticlines trending north west - south east, with
reservoirs in the Upper Cretaceous Coban C carbonates. Current production is
said to be approximately 1,700 barrels per day ('bopd'), Extensive facilities
also exist at Rubelsanto. Additional undrilled prospects have been identified in
the area and the north flank of Rubelsanto field has not been explored.

Area 7 - 2005 (Tortugas/Atzam)


This area contains two oilfields: Tortugas and Atzam. Both these fields contain
oil in the Coban C formation and the structures are related to salt tectonics.
Tortugas lies on the edge of a salt diapir that exposes salt on the surface and
Atzam is a salt cored anticline.


Tortugas has proven production from the Coban C17 from shallow depths (<2,800')
at rates of over 600 bopd. Additional potential has been identified in the Coban
C13 to C16 reservoirs. In Atzam the reservoir lies at greater depths (c3,500')
and oil has been produced from the Coban C19 at rates in excess of 1,300 bopd.


The Coban dolomites are the main producing reservoirs in Guatemala. The
formation is divided into sub units of which B, C and D are the main intervals
in which hydrocarbons have been identified.




This information is provided by RNS
The company news service from the London Stock Exchange

The whole oil sector is going to go through a very interesting period, for sure its a limited resource and will eventually run out. The present rush to Bio fuels is concurrent with the short time rise that oil will go through, and we can expect a peak of about 90$ a barrel until all these new companies start to pump oil, which should see a long term price fall from the 90's down to around 50$ a barrel.

For the investor there is a double gain here, in the short term, 1 to 2 years there will no doubt be a rush for bio alternatives, which will make good returns. Short term as well as soon as any of these oil exploration companies start to produce oil can sell at extremely good prices, which will also make previous not viable wells into viable ones.

If we talk in a 5 year period, then I would forsee a couple of years growth in oil/gas exploration and bio alternatives up to the point of around 90$ a barrel, then with more and more oil becoming on line, a reduction in the alternative fuel market (although viable and profit making, the focus will drop), however, oil and gas will continue to made good runs in the next 5 years, from where we are now to the 90$ a barrel mark, and also during the fall to a price of around 55$ a barrel in approx 4 to 5 years time.

June/July would indeed appear to be a very good time for TAG with the if's and when's answered to some extent and a trickle of oil starting to flow.

DYOR, I have found most "experts" now pointing to a rise to 90$ a barrel before a drop back to the 50$ mark in the coming years.

The significant holding of RAB also bodes very well.

RAB Energy Fund Ltd 4,480,770 8.98%
RAB Special Situations LP 3,713,077 7.44%

Philip Richards's RAB Special Situations fund is definitely at the riskier end of the fund spectrum and is probably not for the faint-hearted.

But it has made a lot of money for investors. Anyone who invested in the fund when it launched at the beginning of 2003 would have seen his money grow by 20 times.

------------------

In the next few months, RAB will launch the two new vehicles and reallocate the global macro fund's remaining assets between these. Gavin Wilson will manage the energy fund while Harvey Neale will oversee the index futures vehicle. Both managers have strong investment experience and RAB sees a lot of opportunities in energy, said Alen-Buckley.

Although the macro fund has been smacked hard, RAB's other funds have performed well. The firm's special situations fund had gross returns of 21% in February, while its energy fund returned 12%. A commodity trading fund that was launched in the past few weeks is already up approximately 5%, said Alen-Buckley.

Thanks PP that's good news for patient RAB holders as their shares were smacked hard too! Recovery well on the way and seems the best way of sharing in all their success. cheers MP

Now that trading positions have been cleared on the "witching" day yesterday, we should, IMO, see a very interesting Q2. Late Q2 for TAG should be more bullish and all being well Q3 very exciting.

PpP: Thanks for your earlier posts. Had already looked at TAG and decided that RAB was the best route into these minnows. Have been waiting for a dip and now it looks right.
I agree with your oil price forecasts, but we won't run out of oil. As Warren Buffet said on the subject 'the stone age didn't end because we ran out of stone' and neither will the oil age. I have just been handed a mass of stuff about BP's extraction programme from the tar sands which contain massive reserves - expensive but plentiful.
Have been away and will post later also with comment on your APH post.
sd

squidd - Thanks, will look forward to your post. I have just updated the APH thread with some news on RAB Captial (who are into APH along with Nigel Wray).

Things were strange yesterday Fri 18th March as it was a quadruple witching day - where stock and index futures and options expire across Europe and the US. This always skews the markets as traders close positions.

PpP: Have read again your original TAG post and am sorely tempted. My gambler's instinct tells me there's no point in putting this on a watch list - one blink and I could miss blast-off. So now it's decision time.
Meanwhile, investors in oil should visit Kimmeridge, a beauty spot on the Dorset coast for a glimpse of the past and the future, for here the cliffs are made of oil shale. On the West cliff is a small BP nodding donkey, denoting the 20th C. and on the East cliff is the Clavell Tower, a monument to the 18th C. oil barons who extracted lamp oil from the shale: and this points the way to the 21st C. because much new reserves are from this source, though not in Dorset. The best known site is at Athabasca in N Canada, where Shell is sitting on reserves thought by some to equal those of Saudi, and where high oil prices have encouraged a rapid expansion of production - currently about 200K bpd. SEC rules do not permit Shell to count these as proven reserves but they are very real, and helped some of us to conclude that Shell was a recovery stock during the reserves depressionb last year. sd.

There seems to be no investor interest in this one at all--anyone any comments or updates?

Money+,

well, as we can see from the chart below, the price is faling steadily, so I wouldn't be a buyer here until a base is established.

maybe the thread originator can put some links and company information in the header, that may attract more people to the thread.

resizing the charts may help too!

June/July = updates on Las Casas workovers and new well 3x
July/August = New licenses
Oct/Nov = New Las Casas well updates

It seems to be a very gloomy period for all AIM stocks, especially the former high flyers and oil minnows. My only blue areas are ELA and CSB and I'm staying about 50% liquid, in case G.W.B. ruins the party. But there are always opportunities so let's keep watching.
sd.

As an update as far as I can give the Las Casas 1x and 2x are being worked over and Las Casas 3x was due for "spud" around mid to late April with a timescale of around 45 days (call it 60 days to be safe).

The two new bids for blocks A6 and A7 were delayed until mid June by the Guatamalan government.

I would therefore expect an update on 1x,2x and 3x when the bid is submitted this month to confirm the bid is in place and to bring us up to date on progress or after its awarded around the end of July as the bid and award process will take around 6 weeks once the bids are allowed to be submitted by the government.

Once the first new well (Las Casas 3x) is done under the three well agreement with Rolln we can then look forward to news on the next two wells under that agreement.

The shares are tightly held and weak holders already out so they have time to get everything in place to allow a flow of good news so although June could have news it also could be they will wait until the end of July when A6 and A7 are awarded. 1x and 2x are proven but were not that profitable around the 20$ a barrel mark but they are now and why they are being worked over. 3x is proven and is hoped to flow anywhere around 500 to 3000 bopd so it is sure before too long they will be producing oil that can easily be moved due to the pipeline infrastructure already there for which agreements have been made.


Details on the Guatemalan Licencing Round are set out below.

The Licencing Round consists of two blocks. These are located to the west of
Taghmen's existing licence and are designated as Area 6-2005 (Rubelsanto) and
7-2005 (Tortugas/Atzam).

Area 6 - 2005 (Rubelsanto)

This area contains three anticlines trending north west - south east, with
reservoirs in the Upper Cretaceous Coban C carbonates. Current production is
said to be approximately 1,700 barrels per day ('bopd'), Extensive facilities
also exist at Rubelsanto. Additional undrilled prospects have been identified in the area and the north flank of Rubelsanto field has not been explored.

Area 7 - 2005 (Tortugas/Atzam)

This area contains two oilfields: Tortugas and Atzam. Both these fields contain
oil in the Coban C formationand the structures are related to salt tectonics.
Tortugas lies on the edge of a salt diapir that exposes salt on the surface and
Atzam is a salt cored anticline.
Tortugas has proven production from the Coban C17 from shallow depths (<2,800')
at rates of over 600 bopd. Additional potential has been identified in the Coban C13 to C16 reservoirs. In Atzam the reservoir lies at greater depths (c3,500') and oil has been produced from the Coban C19 at rates in excess of 1,300 bopd.

The Coban dolomites are the main producing reservoirs in Guatemala. The
formation is divided into sub units of which B, C and D are the main intervals
in which hydrocarbons have been identified.

Its very old news but shows exciting potential for this;

http://www.findarticles.com/p/articles/mi_m3159/is_8_220/ai_55822340/pg_3

1999

Guatemala had disappointing results with its second licensing round held last fall. With only two bidders, Perez Companc and Norcen (later acquired by Union Pacific Resources, UPR), the country chose to suspend its third bidding round indefinitely. UPR, the country's leading producer, continues development in the northwestern Peten basin, drilling seven infill wells at Xan field in 1998 with plans to drill four exploration wells in 1999.

Canada's Enterprise Development Corp. tested its Las Casas 1X well in September 1998. The well flowed 38 [degrees] API crude with wet gas at rates up to 2,500 bopd. Testing was suspended to procure higher-capacity test equipment. The company was optimistic that the well will be deemed commercial. The company also plans a horizontal sidetrack of the Las Casas 2x well.

Again very old report but a good insight;

http://www.costaricabusinessclub.com/187/english/news.html

GUATEMALA CITY, Guatemala

Mexpetrol Guatemala Corp Received Approval From Director General, Hydrocarbons In Guatemala To Proceed With Testing And Development, Plans For The Las Casas And Huapac Structures.
American Reserve Energy Corporation and Las Casas Energy Corporation reports:
Mexpetrol Guatemala Corporation, 100% owned subsidiary of Las Casas Energy Corporation, today received approval from the Director General of Hydrocarbons in Guatemala to proceed with testing and development plans for the Las Casas and Huapac structures. These structures are located within Mexpetrol's 100% owned 321,685 acre Exploitation Contract. Testing to determine stabilized oil production flow rates and sales volumes of the sweet 37 deg API oil from the Las Casas 1X well will start early next week. It is estimated that one week of testing the Las Casas 1X well is required and daily production rates will be announced when determined. The Las Casas 1X well tested 500 BOPD in 1989 from 40' of perforations. Mexpetrol tested the well at 700 BOPD in 1996 from the same 40' of perforations. In 1998 it was discovered the 40' of perforations made in 1989 were off target and the well was reperforated on target between 8420' to 8760' with 311' of perforations made successfully and tested. The final flowing oil and gas rates from this test exceeded the 2450 BOPD capability of the oil/ gas/water separator and the well had to be shut in before a stabilized oil production rate could be determined. The well has been shutin since then.
The Las Casas 2X well, situated down dip and 1300' on surface from the Las Casas 1X well will be reentered and a lateral extension drilled. Whipstocking this well is anticipated to result in increased inflow rates substantially higher than the initial 2X well production test results. Petroleum consultants Ryder Scott Company estimate the Las Casas structure could require the drilling of up to 10 to 15 wells. A new large capacity gas/oil/water separator, jet pump, storage tanks and ancillary equipment have been installed on site. An additional 5,000 Bbl oil storage tank is under construction.
Forty (40) km to the north of Las Casas is the Huapac #1 well drilled to 8920' by Getty Oil in 1980. This well was tested in three Coban "C" (5212' 7530') intervals for oil with negative results and P and A'd in December of the same year. Below the Coban "C" is the Coban "D" dolomite from 7530' to 8650'. This 530' interval demonstrates a strong gas (oil) show on logs from 8080' 8610' and will be tested later this year as well workover equipment becomes available. Target is +300 BCF gas.
Additionally, a major U.S. energy production company has opened negotiations with a written joint venture offer for 75% of Las Casas' 50% owned Wyoming properties.

http://www.mbendi.co.za/a_sndmsg/news_view.asp?I=67434&PG=23

Guatemala delays bids for blocks A6 and A7
It has been reported that Guatemala's energy and mines ministry has delayed receiving bids for blocks A6 and A7, which make up its 2005 oil exploration and production bid round, until mid-June.

The original date to submit bids was May 16. The process has been slowed down because the bidding rules have not yet been approved by the government's executive branch.

Companies will have a maximum of 30 days to submit offers after the bidding rules are published, according to Romero.
Block A6 covers 46.9ha and is made up of four fields currently producing about 1,800 barrels a day. Proved remaining reserves are some 50 million barrels (Mb) of 21-28 degree API crude.

The ministry has added to block A6 an area that contains three new undeveloped structures besides the four producing fields. Possible reserves on the three new structures are 50Mb.

UK oil company Perenco operates block A6 but its contract expires on 13 August 2005.

Block A7 covers 34ha and has two structures, Atzam and Tortugas. Two wells on each of the structures were drilled in the 1970s and both structures tested at 1,200b/d of 34-38 degree API crude but neither were developed. Proven preserves are some 60Mb of oil. Block A7 is not presently in production.

Update on the major shareholders put in the header too ;

Gregory Smith.................19,865,386....23.04%
Millennium Global.............13,307,696....15.36%
Chasm Lake Management.........10,230,770....11.81%
RAB Energy Fund................8,711,540....10.05%
RAB Special Situations.........7,176,154.....8.28%
Moore Capital Management.......4,076,924.....4.70%
Meridian Natural Resources.....4,346,156.....5.02%
Fidelity Investment............4,559,146.....5.26%
Metage Funds Limited...........3,128,240.....3.61%
Nicholas Gay...................1,000,000.....1.50%
John Scott.....................1,000,000.....1.44%
James Guiang...................1,396,125.....1.16%

Total held = 91.23%

More info;

http://www.ideasintl.com/news/Articles/TaghmenEnergy.htm

Taghmen Energy pursues Latin America strategy with IDEAS Implementation

LIVINGSTON, NJ May 18, 2005 IDEAS International, Inc, a leading supplier of financial and logistics systems to international oil & gas and automotive manufacturing operations, announced today that London, England based Taghmen Energy (AIM:TAG), has licensed the IDEAS international oil and gas venture management solution for its operations in Guatemala.

Taghmen Energy is an independent oil and gas company with a focus on exploration and production opportunities in Latin America. Taghmen Energys current oil and gas assets in Guatemala comprise the Las Casas 6-93 concession covering 130,186 hectares in the Peten Basin of Guatemala which, based on a recent independent evaluation, is estimated to contain potential gross reserves of approximately 29.6 million barrels.

We are delighted to work with Taghmen as they move forward in Guatemala, said Lucie Atamian, IDEAS Director of Global Sales. Its exciting to work with a company with Taghmens vision and growth potential.

Geoff Killick, CFO of Taghmen Energy, commented The implementation of IDEAS will enable us to effectively account for and report on the companys activities as they rapidly expand over the next few years.

About Taghmen Energy
Taghmen Energy is an independent oil and gas company with a focus on exploration and production opportunities in Latin America. Taghmen Energys current oil and gas assets in Guatemala comprise the Las Casas 6-93 concession covering 130,186 hectares in the Peten Basin of Guatemala which, based on a recent independent evaluation, is estimated to contain potential gross reserves of approximately 29.6 million barrels.

About IDEAS
IDEAS International, Inc., a US corporation, is a multinational software development company serving a worldwide client base from offices in the U.S. and overseas. Founded in 1982, IDEAS International has two decades of experience providing software solutions and associated professional services to world-class leaders in industry and government.

Contacts
IDEAS International, Inc
Lucie Atamian, Director, Global Sales
973.993.8000 ext 239
luciea@ideasintl.com

Taghmen Energy
Geoff Killick, CFO
27 Berkeley Square
London W1J 6EL England
+44 (0)20 7297 4360
info@taghmenenergy.com

PP, this looks very interesting and minimal risk do you know when the bids will be actually placed for the new areas ?

PpP: Can you clarify for me the number of shares issued; from the above figures it appears that there are only around 8M shares available outside the majors, and as they are unlikely to want to part with theirs on any good news, it implies that there could be a lot of upside volatility.
sd.

squidd I have updated the shareholders list and my calculations and yes very correct on the upside volatility when news flows !!

Significant stakeholders now include Fidelity, RAB, Metage and Millennium.

Major Shareholders : Shares in issue: 50.67M

Gregory Charles Smith.......................13,600,001......26.84% Dir
Millennium Global High Yield Fund Ltd.......7,153,848.......14.11%
Chasm Lake Management Services LLC..........5,615,385.......11.08%
RAB Energy Fund Ltd.........................4,480,770........8.84%
RAB Special Situations LP...................3,713,077........7.32%
Moore Capital Management Inc................2,538,462........5.00%
Meridian Natural Resources High Yield Fund..2,423,078........4.78%
Fidelity Investment Services Limited........2,279,573........4.49%
Metage Funds Ltd............................1,897,470........3.74%
James De Vaux Guiang........................1,000,000........1.97% Dir
Nicholas Hugo Gay...........................750,000..........1.48% Dir
John McNeil Scott...........................750,000..........1.48% Dir

Total held by major shareholders = more than 91.13%

Remaining percentage available = approx 4.5 million shares

squidd/189 the date of the bid submission now confirmed;

http://www.rigzone.com/news/article.asp?a_id=23345

Guatemala Ministry to Receive Bids for Blocks A6, A7 July 19th

21st June 2005

Guatemala's energy and mines ministry has delayed receiving bids for 25-year exploration and production contracts for blocks A6 and A7 until July 19, project manager Evanan Romero told BNamericas.

The 46.9ha block A6 and the 34ha block A7 in Alta Verapaz department make up the ministry's 2005 oil exploration and production bid round.
Originally the ministry planned to receive bids on May 16 but the process experienced some delays in getting the bidding rules approved by the government's executive branch.
Block A6 is made up of four fields currently producing about 1,300 barrels a day (b/d) of oil plus three new undeveloped structures, La Felicidad, Las Mercedes and El Cedro.
Estimated proven remaining reserves are in the range of 50 million barrels (Mb) of API 21-28 oil and total reserves are estimated at about 100Mb.
European oil company Perenco currently operates the block but its contract expires on August 13 this year.
Perenco exports all crude produced on block A6 to BP's refinery in Houston.
Block A7 has two structures - Atzam and Tortugas - that were in production until early 1984. Estimated proven reserves on block A7 are calculated at 54.1Mb.
Included among both contracts' requirements are the acquisition, processing and interpretation of 150 sq km of 3D seismic and 50km of 2D seismic data and drilling 1-3 exploratory wells.

PpP: Thanks for that. I note from a google search that Nick Gay is still active at internationsl conferences, so he obviously didn't just want to retire to Latin America with his PetroK stock options. The calibre of this guy and that of his backers tells me that this is a worthwhile gamble with limited downside and massive upside potential.
sd.

Bids to be submitted next week for A6 and A7. Once the bid is awarded (perhaps before) we can expect a full and complete update from TAG on Las Casas and everything thats been going on.
The countdown for news begins from bid placed day and could be anytime in the following 6 weeks from then.

http://www.rigzone.com/news/article.asp?a_id=23345

PpP: Must be about time to gamble on this one with the sp drifting downhill on no volume. Think I'll dip a toe in
sd.

squidd the 19th July has passed so the bids should have been submitted for A6 and A7. It is my opinion that TAG did not want to release any updates on the companies position prior to the bid so that it puts them into the best possible position for the bid process with nobody knowing how well they are doing.

News will now come any time within the next 6 weeks and the oil is already flowing in my opinion. We will be updated shortly I believe and then its time to fly.

PpP: Took a small punt on this one yesterday - mine was the 2K buy @57p reported as a sell. A tiny gamble compared to that taken by Nick Gay and his backers so I expect to add in due course.
On my watch list of oil minnows TAG is very much the laggard and my buy accounted for nearly half of yesterday's trades. With so few shares in circulation I imagine any movement will play havoc with the OBV in relation to the sp. We'll see.
sd.

Taghmen Energy PLC
26 July 2005
TAGHMEN ENERGY Plc

JULY OPERATIONS UPDATE

Taghmen Energy Plc ('Taghmen' or the 'Company') an independent oil and gas
exploration, development and production company, focused on Latin America, which listed on AIM in January 2005, is pleased to provide the following operational update.

Over the last few months, the Company has continued its planned operations in
Guatemala. These are now starting to bear positive results.

The initial work-over of wells 1X and 2X on licence 6-93 have been completed.

Well 1X

Well 1X has encountered hydrocarbons and is currently being 'swabbed' to produce varying quantities of oil and gas, ranging from 5% to 90% of the liquid flow with a daily average of approximately 35% to 40%. Gas production to date is too small to measure but is constantly present. Initial tests have confirmed that the oil has an API of approximately 38o, while the gas is sour. The well was originally drilled in 1981 and was re-perforated and tested in the 1990's. The damage to casing and the apparent lack of cement behind casing, prohibits a full test. Planning is currently under way to re-drill the well to the north, using the top section of the existing hole and sidetracking above the damage ('the side-track'). Initial discussions with the Guatemalan Ministry of Energy and Mines ('the Ministry') indicate that the side track is likely to be acceptable as the second 2005 commitment well on licence 6-93. Assuming no unforeseen delays, the side track will take place following the completion of the drilling of well 3X.

Well 2X

Well 2X has been suspended following its work-over. The well did not flow and
appears to have a severely damaged well bore. New perforations indicated
extensive formation damage with no measurable oil inflow. The well is currently
being evaluated to assess if production can be stimulated by acidisation or,
failing this, re-completed as a field water disposal well.

Well 3X

Well 3X is currently being drilled. The well has reached a depth of
approximately 6,100 ft with a target depth of 8,500 ft and has reached the
intermediary casing point at the top of the Coban 'B'. Barring unexpected delays the well should reach target depth within three weeks.

Reserves Estimates

At the time of listing the Company, the potential reserves at Las Casas were
estimated to be approximately 26 million barrels, with a further 3 million
barrels located on the Huapac structure. In addition to these, the Company has
identified a further nine leads on the licence, seven of which are estimated to
contain potential reserves of between 2 and 5 million barrels each and the
remaining two between 3 and 10 million barrels each. A seismic programme is
planned to provide further definition.

Licencing Round

The Licencing round in Guatemala has taken place with bids having been submitted on 19th July. The results of this are unknown though discussions with the Ministry indicate that an announcement will be made within the next week. The Company made one application for licence area A7-2005 (Tortugas-Atzam), which it estimates to have between 5 and 16 million barrels of recoverable reserves.

Notification of Interim Results 2005

The Company plans to issue its interim financial results on Wednesday 17th
August

Taghmen continues to evaluate a number of opportunities for exploration and
development within Latin America.

Nicholas Gay, Chief Executive of Taghmen Energy commented:

'Today's announcement highlights the progress the Company has made since listing on AIM. The operations at well 1X are extremely encouraging and we have high hopes for well 3X.

Starting things from scratch is inevitably more time consuming than is
originally thought and in our case there has been no exception. We are extremely grateful for the continued support and patience of our shareholders.'

26th July 2005

For further information, please contact:
Taghmen Energy Nicholas Gay,

PpP: Thanks for posting the latest news from TAG which sounds cautiously encouraging.
Have noted the 232M volume over at oil minnow FAO yesterday; the effect this sort of activity would have on the sp for TAG scarcely bares thinking about.
sd.

squidd it is good news, especially that they have more than the 26 million barrels the float was based on. A 25K buy just gone through and this will now over 12 to 24 months build strongly.

More news soon on 3X completion, A7 bid and also results.

squidd having looked into it more I can only see more positive upside. We will get news on A7 within 10 days or so and if they get awarded A7 this will change things quite dramtically for TAG as will high flow rates from 3X due around results time or high flow rates from 1X which should be in a few months time after the sidetrack.

Give it two or three more news releases and this will become in demand and will fly due to the limited amount of stock on the market.

PpP: So, some news after a 4 month silence stops the drift and prompts the first ever sp rise since launch.
I noted that RAB, for whom I have high regard, have just sold their holding in oil minnow FAO but remain deeply committed to TAG. Additionally, CSB whom I also regard highly, have just forged a partnership with Meridian and so I think are indirectly invested in TAG.
With its huge appeal to my gambling instincts, this is my next top-up whilst things remain quiet.
sd.

squidd agreed but I do not think it will remain quiet much longer when we get the news of them winning (in my opinion) the A7 bid which should be known by next week or 10 days maximum.

PpP: Have bought 5K TAG @ 59p, which is showing.
Also bought 50K of APH which is not showing yet. Maybe it'll lift the price.
sd.

All good there squidd and VLK is moving up on every buy going through. I might be putting a new company up as a PP thread soon, one which should target 100% gains minimum in a matter of months in my opinion I have been watching it for so long and now its about time to get revalued. I will add into TAG next week is the plan and APH a little later now if I get into my new one but I am tempted to top up again on VLK but KUJ is due for results soon ahhhhhhhh if only I had loads more spare cash :)

squidd we should get the positive news on A7 bid this week.

PpP: Most of the other oil minnows seem to be leaping about, but not TAG yet.
Have decided to add whilst all is calm. And now off to Cowes Week in case ideas are needed on how to spend it.
sd.

http://www.ihsenergy.com/company/pressroom/articles/files/07-05-worldwatch.pdf


From what I hear TAG will be awarded A7. Expect news very soon.


Block A7 has two structures, Atzam and Tortugas, which were in production until early 1984. Estimated proven reserves on that block are calculated at 54.1Mb. Reserves estimates will only be confirmed when seismic's are done.

Typo in article corrected as Petrolatina is the new name for Mexpetrol who TAG purchased and Petrolatina is now a subsidiary of Taghmen Energy.

Six Submit Offers for Blocks A6, A7 in Guatemala

Guatemala's energy and mines ministry received a total of six bids for 25-year exploration and production contracts for blocks A6 and A7 on July 19, a source close to the project told BNamericas.

Five bidders submitted offers for the 46.9ha block A6 and one bidder proposal for the 34ha block A7. Both blocks are in Alta Verapaz department and make up the ministry's 2005 oil exploration and production bid round. Related Products

The bidders for the block A6 contract are: European oil company Perenco; Texas based Arbol Resources, a subsidiary of Open Choke Energy; the Nicaragua-Colombia-Trinidad (NCT) consortium; the Venezuela-Ecuador-Trinidad-Roma-America (Vetra) consortium; and KLP Industries of France.

UK company PetroLatina, a subsidiary of TAGHMEN Energy, was the sole bidder for block A7. At present PetroLatina operates Las Casas field in Guatemala near block A6, the source said.

The ministry plans to take about 30 working days to evaluate the bids and make recommendations on the winner. However, the contract of the current operator of block A6, which is held by European oil company Perenco, expires on August 13.

Therefore, the ministry is looking to award a 3-6 month service contract to maintain operations on the field until the new operator takes charge, the source said. Perenco is also applying for this process.

THE BLOCKS

Block A6 is made up of four fields currently producing about 1,300 barrels a day (b/d) of oil plus three new undeveloped structures, La Felicidad, Las Mercedes and El Cedro.

Estimated proven remaining reserves are in the range of 50 million barrels (Mb) of API 21-28 oil and total reserves are estimated at about 100Mb.

Perenco exports all crude produced on block A6 to BP's refinery in Houston.

Block A7 has two structures, Atzam and Tortugas, which were in production until early 1984. Estimated proven reserves on that block are calculated at 54.1Mb.

http://www.rigzone.com/news/article.asp?a_id=23972

The A7-2005 has 84,778 acres and two anticlinal structures where 10 wells had been drilled in the Tortugas structure. The first producing well, Tortugas 63-4 yielded in an initial test 1200 BOPD of 34 API crude. Two wells were also drilled in the Atzam structure and the well Atzam-2 produced in an initial test 1200 BOPD of 38 API. The total estimated remaining proven reserves for the entire era is in excess of sixty million barrels.

http://www.buyusainfo.net/docs/x_5731079.pdf

PpP: From your news postings, with TAG the sole bidder, it appears a near certainty they will be awarded the licence for block A7. Is there also some prospect, that since they are already operating close to A6, in activities that will doubtless continue, they may be involved there also.
Whilst all remains quiet, I am adding to TAG and am also having a nibble at AEX, where things are not so quiet.
sd.

squidd its my opinion that TAG know the potential but they do not wish to pay over the going rate. A6 is in production and therefore the price is based on known and in production fields. TAG is after the ones they know will produce, but presently have no confirmed reserve levels or flowing wells. As you see from Las Casas they listed saying 26M potential and now say over 50M potential. On A7 they say 16M potential the government say over 60M potential, their bid will be priced for 16M potential, but then after seismics if they win A7, I wonder what the actual potential will be once the seismic work is done ?

Given that A7 is west of Las Casas and that the next one to be bid for is A9 and this is west of A7, if TAG have A7 with a routing in place it makes them favourite to win the A9 bid later this year. A9 is key as this should have big reserves and high flow rates.

Area 9-2003 (Piedras Blancas)
Piedras Blancas is the geologic extension of the Sierra Lacandon trend extending southeast from Mexico. The Sierra Lacandon trend contains numerous discoveries such as the Nazareth and Lacandon fields. High initial flow rates from wells often exceeded 2,000 bopd.

squidd should be getting news on Wednesday as its results time, but the interest is progress on well 3X (and also the bid).

squidd results day later today so we will get some more updates on 1X and 3X.

1X I am hoping that the government allows them to sidetrack and to call this one drill from the Petrolatina (Mexpetrol) requirement of three in 2005.

3X Should be nearly at full drill depth so updates here very interesting.

If these two go well then we could be looking at anywhere between 1500 and 6000 bopd soon.

All ok, an extra 55 million barrels of oil expected on top of previous estimates and 3X due for completion in the coming 2 weeks and then a side track of 1X so we should be in commercial production by year end from 2 wells. 3X should be anywhere around 2000 to 3500 bopd and 1X with a new sidetrack anywhere from 1500 to 2500 bopd in my opinion and based on past flow rate tests.



Taghmen Energy PLC
17 August 2005

TAGHMEN ENERGY Plc

Interim Results for the Eight Months Ended 30th June 2005

Taghmen Energy Plc ('Taghmen' or the 'Company') an independent oil and gas
exploration development and production company, focused on Latin America, which
listed on AIM in January 2005, today announces its interim results for the eight months ended 30th June 2005.

HIGHLIGHTS

Wells 1X and 2X have been worked over. Well 1X has been producing at an
average of 100 barrels of fluid per day, of which approximately 70% is oil,
through swabbing operations.

Well 3X is currently at a depth of 6,657 feet with an expected total depth
of 8,500 feet.

In addition to the originally identified Las Casas and Huapac prospects on
the 6-93 licence, a further 9 leads have been identified with potential
total un-risked reserves estimated by the Company of approximately 55
million barrels of oil. It is planned to acquire 2D seismic over the 6-93
licence later in 2005 to define these more clearly and confirm possible
drilling locations.

Application made for a new licence, A7-2005 (Tortugas / Atzam), in
Guatemala.

With funds of just over US$6.50 million remaining at June 30th 2005, the
Company has prudently carried out its operational plans.

Nicholas Gay, Chief Executive Officer of Taghmen Energy commented:

'Today's maiden results, have demonstrated that Taghmen have been financially
prudent as well as shown operational progress in Guatemala.

We now look forward to continuing to progress with our existing operations and
new leads in Guatemala whilst identifying new opportunities in the Latin America region.'

squidd some very interesting bits;

"Should the Company be successful in its application of licence 7-2005 (Tortugas/
Atzam) it plans an extremely active work programme.

This is an ambitious plan but reflects our desire to exploit what we believe to
be the high potential of these licences. This will however require the raising
of additional capital."


"Taghmen are pleased to announce that the Company was able to establish and
negotiate a US$50 million banking facility with a major European Bank linked to
a proposed acquisition. Although the acquisition was unsuccessful due to the
vendor deciding not to proceed the Company believes that a similar facility will be available should an appropriate opportunity be identified."

PpP: I know it's early days, but I find this interim report somewhat dull and I wonder whether they had hoped for more progress by this stage. Of course everything could be transformed when they complete drilling 3X, but we have to be prepared for the occasional disappointment and be patient, which is what the market seems to have concluded.
Meanwhile I'm also dipping into AEX - uncharted territory.
sd.

squidd I like the detail and clarity from the report, very professional and beyond what they could have just said. Everything will change here once they mention "commercial production" and that is not that far away now.

From 26 million barrels estimate on listing to now an additional estimated 55 million on top of the 26.

For them to be able to get a 50 million facility from a European bank then they must be able to present some very persuasive documents on potential and estimates !

PpP: There's no doubt that N.G. is a highly regarded professional with all the right contacts, and able to raise funds and get things done. I don.t think there's much downside risk, but is there a hint that they might want to raise funds from shareholders via a rights issue.
Speaking of professionalism, I wish some of my bombed out recovery stocks enjoyed the headers you are producing. I'm just digesting the new one, the KIB proposition.

Good news squidd

Link


UK Firm Taghmen Energy Wins Guatemalan Block A7
Fri, Aug 26, 2005 20:27 GMT


GUATEMALA CITY - Guatemala's energy and mines ministry has awarded a 25-year exploration and production contract for block A7 in Alta Verapaz department to UK oil firm Taghmen Energy's local subsidiary PetroLatina, an industry source told BNamericas.

PetroLatina was the sole bidder for the 34ha block that was part of the ministry's 2005 oil E&P bid round.

PetroLatina operates the Las Casas field in Guatemala's Peten basin, which is about 97km from block A7. The license was granted in 1993.

Estimated proven reserves on block A7 are calculated at 54.1 million barrels (Mb).

Taghmen Energy, which listed on London's AIM market in January 2005, is focused on oil and gas exploration in Latin America.

"As a result of a number of positive changes in the political and economic environment in Latin America, the directors believe that opportunities now exist for small entrepreneurial companies to enter these markets and seek to develop oil and gas prospects," according to Taghmen's website.

"It is the company's initial intention to identify projects within three or four countries in Latin America capable of meeting the board's technical and economic criteria," Taghmen said.

PpP: Thanks for the update - good news from TAG, things going to plan.

I looked at BOI early in the year when the director buys were flagged, but felt these were of little significance. Additionally, couldn't understand why they weren't leading the charge against MRSA and the superbugs with more conviction, and so decided to give them a miss.

Now, with oil prices overshadowing health problems, I feel that a top-up in TAG is a better home for funds.

sd.

squidd the exciting news is still to come, and likely why the company have not yet gave official notice of the bid win. Well 3X should have been complete around the 27th August, they may be taking initial flow rates to give us all something to cheer about when they announce the well completion.

squidd as we know they obtained a 50 million facility for a takeover that did not happen, do you think they tried to go for Chaco ? It would fit in to the South American lead oil role for Taghmen's plans.

PpP: I had a look at Chaco some years ago when they were Gold Mines of Sardinia and decided it would be a good company to work for, but not to invest in: - juicy EU hand-outs, nice lifestyle for directors but little for shareholders.
My gut feeling now is that it's too speculative, too expensive and too far away, but I really don't know and Nick G. might see it differently.
By the way, I'm piling into AEX at the moment, take a look.

squidd we should get news on 3X this week or next from TAG.

I am getting into EVS, will put a post on the EVS thread later to say why, I see it as very strong and a very good bagger opportunity, the selling out was just fear on what I see as a very positive trading statement.

We have news and still wait for 3X news.

Taghmen Energy PLC
19 September 2005

TAGHMEN ENERGY Plc
New Licence Awarded

Taghmen Energy Plc ('Taghmen' or the 'Company') an independent oil and gas
exploration, development and production company, focused on Latin America, which
listed on AIM in January 2005, is pleased to announce that it has been notified
by the Guatemala Government that it has been awarded Licence 7-2005 (Tortugas/
Atzam) in the recent licencing round. The Company now has 30 days to negotiate
and settle the terms of the licence and its formal work programme.

Licence A7-2005 (Tortugas/Atzam)

Licence A7-2005 (Tortugas/Atzam) is a 25 year contract consisting of a 6 year
exploration licence convertible to an exploitation licence at Taghmen's option,
with an aerial extent of approximately 77,718 acres, located in the
north-western corner of Guatemala in the department of Alta Vera Paz. The area
is approximately 20 kilometres west of the Rubelsanto field discovered by
Hispanoil in the early 1970's, in which in excess of 30 million barrels have
been recovered. Tortugas is accessible by road and is 375 kilometres from
Guatemala City. By air, the closest serviceable airstrip is at Rubelsanto. The
company is evaluating the possibility of re-opening an abandoned 3,000 foot
airstrip at the base of the Tortugas dome.

The licence has two areas of interest. The first is around the Tortugas salt
dome and the second is an area to the south of the licence, known as Atzam. The
original exploration of the region was for sulphur, specifically in the Tortugas
area. However, every well drilled on the flanks of the salt dome contained live
oil shows. Three of the wells drilled on the north flank of the salt dome
flowed 28-32degrees oil from the top of the Coban C 17 from depths of 1300 feet
to 1800 feet.

Once oil was discovered, 13 wells were drilled on the area now covered by the
licence. Eight of these were on the Tortugas structure, one on the Atzam
structure and four elsewhere on the licence. The Tortugas and Atzam wells
encountered hydrocarbons, and initial indications are that this has an API of
35o.

Based on the review of available data the Company estimates that the possible
reserves on the licence to be in the region of 5 to 16 million barrels of oil.


Planned work Programme

With regard to Licence A7-2005, we plan to

- Complete the required environmental study over the next three months
- Complete the necessary infrastructure to allow ready access to the areas of
interest
- Work over wells Atzam 2, Tortugas 4 and 5 from late in the fourth quarter
of 2005 and the first half of 2006
- Shoot 150 km2 of 3D seismic and 50 km of 2D seismic over the licence, and
- Commence a four well drilling programme over Tortugas/Atzam from early
2006.

The proposed work programme is expected to cost approximately $10 to $15
million in the first three years..

Nicholas Gay, President and CEO of Taghmen Energy Plc:
'We are delighted to announce this new licence award of Tortugas. It has been an
area which we targeted for sometime and believe it will add further value to the
Company's assets in Guatemala,'

PapalPower

Do you know when the interims or finals are due,? I cant find anything on MAM research page
Many thanks

Giggin

Giggin the interims were 17th of August, link below.

Link

PapalPower
Many Thanks
Giggin

Could be news this week according to a post on AFN with info from the Mail on Sunday.

dunnIE - 25 Sep'05 - 08:51 - 71 of 72

Taghmen Energy will tomorrow announce the discovery of oil & gas at a well in Gautemala according to a article in today's Mail on Sunday,RAB Capital hold 16.16% between the Special Situations Fund and the Energy Fund,it can't be long before the share price takes off again.

squidd, other people saying the same so we might be in for an interesting week. The interest will be in flow rates over 500 bopd (as 500 bopd was the target for 3X) and the mention of gas as well !

If we get the news 3X is finished then the rig should be moving over to 1X for the sidetrack of that one so more news will follow in a few months, and 1X should duplicate similar flows to 3X, but we all hope better of course.

Taghmen Energy PLC
26 September 2005

TAGHMEN ENERGY Plc
Las Casas-Well 3X Initial Exploration Result

Taghmen Energy Plc ('Taghmen' or the 'Company') an independent oil and gas
exploration, development and production company, focused on Latin America, which listed on AIM in January 2005 announces that its well 3X, currently being
drilled on its licence 6-93, has encountered hydrocarbons.

Well 3X

The 3X well is the first new exploration well drilled on the Las Casas structure within Licence 6-93 in Guatemala, since Taghmen acquired the licence.

Following initial gas shows at 7,800 feet and oil staining appearing at 8,270
feet, material levels of hydrocarbons occurred at 8,497 feet. This was
accompanied by a drilling break and a controlled gas kick with oil shows at
surface. A second major drilling break and controlled gas kick resulted in a gas and oil inflow with measurable oil entrained within the mud system and pooling in the mud tanks. The well is currently at 8,699 feet.

Original expectations were that the well would TD at 8,500 feet. Current plans
are to drill to approximately 9,200 feet or until the well ceases to encounter
hydrocarbons. The oil seen so far appears to be of a high quality. As with other fields in Guatemala, H2S is present.

A review of existing older wells in this area has indicated major formation
damage in these wells and, as a result, Taghmen is using a balanced drilling
technique to ensure minimum losses to the pay zone, where possible.

Following the cessation of drilling, the well will be logged and tested to
confirm commerciality. On confirmation of commerciality the Group estimates
first production could come on stream within a matter of weeks given that
storage facilities and pipeline access and trucking facilities are already
established at the Las Casas area.

On completion of the 3X well, the Company plans to sidetrack the IX well,
following encouraging results from the work-over of the well earlier this year.

On 19 September, Taghmen announced it had been awarded a 25 year contract on
Licence A7-2005 covering the Tortugas/Atzam Block in Guatemala.

Nicholas Gay, President and CEO of Taghmen Energy Plc:

'These results are exceptionally promising and could lead to early production
this year giving Taghmen a material revenue stream at a time of high oil prices.

With the imminent side track of the IX well, combined with our planned seismic
programme aimed at confirming additional drillable prospects, we are confident
our exploration programme on the Las Casas Licence will lead to further
success.'

Greg Smith, Executive Chairman of Taghmen Energy Plc commented:

'This discovery highlights the Group's rationale in choosing Guatemala as its
initial location within Latin America to build a material oil and gas business
through exploration and exploitation given Guatemala is a highly prospective oil and gas region which has been under explored to date.'

26 September 2005

For further information, please contact:

Taghmen Energy Nicholas Gay,
Nicholasgay@taghmenenergy.com
+44(0)2072974360

www.taghmenenergy.com

squidd we are on a flyer so far today !

Another big push could come when we get news on the actual flows and types.
Good sign for Nick Gay to say "exceptionally promising" and "material revenue stream" points to more good news to come. He is not one to over state potential in my opinion.

Settled around the 71.5p to buy level at the moment. I hope Nick Gay can get it producing the cash flow this year !

Nicholas Gay, President and CEO of Taghmen Energy Plc:
'These results are exceptionally promising and could lead to early production
this year giving Taghmen a material revenue stream at a time of high oil prices.

PpP: Very welcome news from TAG that helped to relieve the pain of EVS, which I still hold after it crashed through my stop loss.
My first inclination was to sell TAG into the rise but on reflection decided that it could so easily gather momentum and I should really be thinking of building a bigger stake (one in AEX has paid off very well, and oils look likely to continue to prosper).
I'm sure you know that PetroK was bought by the Chinese at an inflated price and this must reflect some credit on Nick G. There's good reason to suppose that he could build up TAG in the same way so I'll be in for the long haul.
sd.

squidd I am still holding EVS and looking forward to getting a clear picture with results.

The wording from Nick Gay, being very positive, eased an easy decision which for me was not to be tempted to sell but keep holding as an decent levels of bopd from 3X would make the present market cap low, and not forgetting the sidetrack to be done soon on 1X meaning by year end both 3X and 1X could be flowing.

LINK

Smaller companies report: Monday close
This is Money
26 September 2005

SHARES in smaller companies saw gains today, with oil and gas explorer Taghmen Energy surging in value following a bullish drilling update. The FTSE small cap index closed up 7.7 points at 3138.4. Taghmen Energy was one of the top small cap risers, up 18p at 70p having hit a peak of 81 earlier, after saying its well 3X, currently being drilled on the Las Casas structure in Guatemala, has encountered hydrocarbons.
The company said the oil seen so far appears to be of a high quality. Taghmen president and CEO Nicholas Gay described the drilling results as 'exceptionally promising' and and said they could lead to early production this year giving Taghmen a material revenue stream at a time of high oil prices.

This link below is a good read about the potential of Las Casas, 1X and 2X were not only badly drilled but also now is found lacked decent casing and were generally just a very poor piece of work done years ago.

If 3X produces what 1X and 2X did when they were drilled many years ago then things will look up.

The comment on the sidetrack of 1X in the interims also shows they have big hopes that it will pay off on 1X (and the sidetrack will start the moment they finish at final depth on 3X)

Infrastrucure is in place for good flow rates already at Las Casas so that is not a major concern.

http://www.costaricabusinessclub.com/187/english/news.html

Updated header with present planned works programme.

Simon Cawkwell just gone long on TAG I am told after being told this one is the "bees knees" by his man in the know.

PP

Whats the short term\long term sp on this in your view?

Yup Evils gone long at 73p and thinks hes onto a winner here. Very interesting and Im tempted to join you. Just need to get a bit more from Evil.

cheers GF.

PpP: Someone appreciates your new header, so thanks for that. Even if we don't make money, we can at least enjoy the read. But the're all a gamble and this one is as good as any other; we have top quality professional management, strong backing from the institutions and an insatiable demand for the oil if they find any. Oh, and GF looks like coming aboard, which can't be bad. I'm purging my portfolio of all the no-hopers and now piling into TAG with the proceeds. Here's hoping.
sd.

m0dulus no targets but think it will keep growing and growing in time. They plan to become the biggest Oil company in South America, and I do not doubt their ambition or ability and have utmost respect for Nick Gay, he is very honest and when he says things like "having great hopes" or "exceptionally promising" there is no need for any pinches of salt with it in my opinion.

GF please let us know if you have some more details !

squidd very true they are all a gamble, I think this one has a seriously lower risk level though so happy to hold and add.

Solid buying all morning, anyone got any ideas on the 35K T trade at 80.71 ?

squidd our times of postings cross so one to keep in your watchlist for tomorrow morning is BSP. Their interims are due tomorrow and we may get news on the sale of assets (in particular Geosim is the most interesting one people want to know about but also ACR). Just a watch and see what comes out from their results.

The level of buys coming in on TAG in recent days should mean it will not be too long before the price moves up if the buys keep coming in and the MM's holdings decrease.

PpP: Had a look at BSP & ACR, both intersting in different ways but not I think in the same risk/reward league as say TAG or ULT, so I won't be nibbling there.
With some absences from home in prospect in coming weeks, I'm reducing my range to those I think can be left to themselves, hence adding to TAG; mine was the 14,096 purchase this morning and clearly in good company.
sd.

27/07 3X was at 6100 feet
17/08 3X was at 6657 feet (26.5 feet per day avg (rig servicing done))
26/09 3X was at 8699 feet (51.05 feet per day avg)

Target 9200 feet (or until hydrocarbons cease (deeper the better for wider pay zone)

Should be at 9200 feet around 7th October so I would guess at confirmation of commercial and flow rate mid to late October and into commercial (hope) production November.

Latest next news should come would be early November I think.

A google translation but just to confirm that for the new A7 area Taghmen (Petrolatina) plan to invest 22 million dollars with 31.5% of production given to the government.


http://monedagt.terra.com/moneda/noticias/mnd23004.htm

MINISTRY OF ENERGIA And MINES ADJUDGES AREA FOR OIL OPERATION

The last week, the Ministry of Energy and Mines of Guatemala adjudged two areas of oil operation after a licitation process in which six companies participated.

With respect to the two companies benefitted with the awarding, the ministry expressed through a press official notice that "determined that the proposals of both organizations represented the best conditions for the State of Guatemala".
According to it was explained, the companies participated at the end of July in a licitation for the renovation of a contract of oil operation and another one more for the petroleum extraction in an area nondeveloped still.
For the first zone, call A6 field, company KLP, HQ in France, it was committed to invest about 72 million dollars and accepted to give to Guatemala a 35% of the production. The calculations of the Ministry of Energy and Mines consider that the field A6 KLP will report benefits of between 60 and 90 million dollars for Guatemala in 3 years.
The other company, Petrolatina, HQ in England, will invest 22 million dollars and offered to give the 31,5% of the production. The ministry calculates that the area will be able to produce about 45 million barrels.

New September 2005 investor presentation link below (MS Powerpoint file);

http://www.taghmenenergy.com/documents/taghmen_09_05.pps

Added in the workplan charts above so its easier to see their plans and timings.

100K Cross trade at mid price to start the day, so someone big is buying.

PpP: I had expected the price to drift as previously, until the news of the 3x completion in early November, and if so, thought of adding to my holding. But I can't make sense of the sp gyrations and wonder if this reflects a stock shortage. Any thoughts ?

squidd yes I think with such a shortage of stock the gyrations will happen when the MM's think they can do it and pick up more sells than buys.

50K buy today so will have to watch for any more buys coming in now, could mean the big news is coming very soon.

PpP: Possibly someone like me, just sold a pile of AEX, which I thought had gone too far, too fast and looking for a new home for proceeds. But I'm more inclined towards CSB at the moment, though I could be persuaded if you have any news.

squidd no new news, but yesterday a 50K buy, followed by a 100K Broker to Broker buy (then a 100K rollover) and we are due news, so taking a guess I would say next week latest for news on 3X then.

PpP
I have worked out why you talk to yourself on these threads..clever!

c

I am in 15th place on Champion Investor at the moment (PP2005) but this is not holding any stocks I hold in real life, thats funny I think, and worth talking to myself about coeliac1

squidd, TAG on the move today, does suggest news pending this week or next.

PpP: Congrats on the success with BSP; a just reward for your detailed research I think. I wasn't aboard, but I appreciate your alert to its potential a while back.

Meanwhile, believing that AEX had gone too far, too fast, I took profits and have been piling into CSB & TAG; mine was the 28,904 buy this afternoon @ 69p and I had to haggle for that. That brings my holding to 50K, which I think equals over 1% of the floating shares in TAG. So looking forward to some news.

squidd BSP was good and recovered from a certain previous disaster and some more on top, so very happy with that.

TAG the buying volume is rising, some large buys again yesterday so the expectation for me is news next week (very latest should be w/e 11th Nov) but next week would be better for me anyway.

For info Simon Cawkwell met up with the man behind TAG last week (did not say which one) and was very impressed, so he is still long and expecting good things.

Taghmen Energy PLC
28 October 2005
TAGHMEN ENERGY Plc

www.taghmenenergy.com
PLACEMENT OF SHARES

Taghmen Energy Plc ('Taghmen' or the 'Company') an independent oil and gas
exploration, development and production company, focussed on Latin America, has
raised US$2million through a placement of 2,167,082 new ordinary 10c shares.
The commitment from Fidelity, an existing shareholder, was made 2 weeks ago and
closed on October 25th at 52pence per share

The sale of shares will be used to support the Company's working capital
requirements including the acceleration of the testing work on Las Casas Well
3X, initiate seismic on licenses 6-93 (Las Casas) and A7-2005 (Tortugas / Atzam)
in Guatemala and continuing operations at Las Casas.

28th October 2005

Good news in my book, small amount of money relative to the work to be done, accelerating work on 3X (means its good in my books and commercial) and looks like they expect to make considerable revenue from 3X to pay for works in 2006. Very positive now wait for 3X flow rates.

Any comments ?

Percentages for stake holders and shares in issue updated in the header.

'Any comments ?'

Only to agree with you PP. Will await confirmation of flow rate before I jump in here though.

-I've held GED for 8 months.......same region!

They said they would continue drilling until hydrocarbons cease (so the deeper the pay zone the more they have to drill and the better for us to have a deeper pay zone).

We could have a ramp and say the flow rate is so high they have had to purchase all new upgraded equipment to handle it as existing can only handle 2500 bopd per day, but better not to and wait and see what comes out, I think based on this news of Fidelity and "accelerate", it should be very good.

Quoted from an earlier RNS "The company said the oil seen so far appears to be of a high quality. Taghmen president and CEO Nicholas Gay said the drilling results are "exceptionally promising" and could lead to early production this year giving Taghmen a material revenue stream at a time of high oil prices."

We now have "exceptionally promising" and "accelerate"

I hope you will not have to wait too long TStringy to get the news, as its the news we all want to know too.

A couple of posts on AFN from NTV, summarised here, who says he has spoken to the company, good news in my opinion and bodes well for 3X being commercialised with a decent flow rate. The geology problems and balanced drilling has been reported already so no panic there, good to see the full story not just the nice bits being reported.

NTV - 31 Oct'05 - 10:29 - 309 of 317
drilling finished at 9300ft about one week ago ,now running wirelines to test zones
seismic will run over las casas before any more drilling as 3 was nothing like original geology
well full of problems
still cash to be raised for further deals will hold back sp
but nothing will happen til after testing and results are completed on las casas3

sranmal - 31 Oct'05 - 10:50 - 310 of 317
NTV - are you stating that Well 3X was "full of problems"?

NTV - 31 Oct'05 - 11:06 - 311 of 317
scrammal
forget the tech term but inidicated that pay zones leak so the leaks had to stopped so they can test reservoir
they are planning to test maybe for up to three weeks to get an accurate test results guees there are several pay zones
commercialization delayed by a couple of weeks
re shooting of seismic will cost but all in all it all sounds promising
td depth was also increased by 100ft as well

The road to riches can be a rocky one, especially when drilling holes in the ground, but this doesn't seem to have deterred the buyers nor dented the price overly.

squidd the geology problems were known and the drilling problems known, this is why in the last announcement it said they are using balanced drilling. The bigger news is what is there too, the TD depth increased by 100 feet from 9200 to 9300 and commercialisation delayed by a few weeks (which is good as its not confirmed commercialised yet, so maybe it is now)

Acquisition of New Licences
RNS Number:0555U
Taghmen Energy PLC
14 November 2005
TAGHMEN ENERGY Plc
Acquisition of New Licences in Belize and Guatemala

Taghmen Energy Plc ("Taghmen" or the "Company"), an independent oil and gas
exploration, development and production company, focused on Latin America and
which listed on AIM in January 2005, is pleased to announce that it has signed a deal to farm in to two licences and has obtained an option to acquire an
interest in a third licence.

Summary of Licences

The deal announced today covers two licences, the first in Belize (Block 19) and the second in Guatemala (licence 7-98). Under the agreed arrangements, Taghmen will operate the licences and will acquire a 50% interest in both blocks. Based on the leads identified, un-risked potential gross reserves on the two blocks are estimated by the Company to be approximately 130 million barrels. Under the terms of the agreement, Taghmen will fund a seismic programme over the licences, which together with the minimal reimbursement of certain past costs, is expected to cost approximately US $7.5 million.

The third licence (6-98) over which an option exists to acquire a 50% interest
lies in eastern Guatemala. At present this licence is suspended, pending
discussions with the Government.

The original owner and the remaining 50% participant in the licences is Flamingo Energy Investment (BVI) Ltd. ("Flamingo"), which holds or controls the two licence holding companies, Compania Petrolera del Atlantico, SA and USCapital Energy Belize Ltd.

Block 19, Belize & 7 - 98, Guatemala

Block 19, in Belize, covers approximately 790,000 acres, whilst licence 7- 98,
in Guatemala, encompasses approximately 134,000 acres. Block 19 is immediately
to the north of 7-98 and the two licences are separated by the Sarstun River,
which marks the boundary between Belize and Guatemala. They lie in the
Amaritique Sedimentary Basin which is an extension of the Peten Basin in which
Taghmen's existing licences are located. The Block has an interesting petroleum
system which stretches across both basins and is almost identical with potential reservoirs in the Cretaceous Coban Formation and seal provided by Coban Formation anhydrites.

The area is under-explored. In 1977, Exxon shot a limited 2D seismic survey and
drilled one well. This well encountered minor hydrocarbon shows and proved the
presence of a fractured carbonate reservoir and anhydrite seal. More recently
Flamingo has carried out surface geological mapping which has indicated that a
number of anticlinal structures exist and has further revealed numerous oil
seeps to surface. Initial indications are that these anticlines each could
potentially hold approximately 15 to 90 million barrels. Three structures have
been identified to date.

A private local concern on a more northern block in Belize recently announced
that an exploration well had encountered hydrocarbons and testing is now
underway to determine the reservoir size.

Block 6-98, Guatemala

Block 6-98 in Guatemala covers most of Lake Izabel, part of the northern shore
of the lake and extends to approximately 183,000 acres. A younger, Eocene,
sedimentary basin was verified by previous work undertaken by Shell. Coal beds
within the Eocene sandstones could provide a source of gas reserves. The licence is currently suspended and there are no immediate plans to undertake any further work until the status of the licence is resolved.

Planned Work Programme

The initial work programme calls for the shooting and interpretation of
approximately 460 kilometres of 2D seismic. This will be completed during the
first half of 2006.

Nicholas Gay, CEO of Taghmen Energy Plc commented:

"We are delighted to secure these under-explored assets which will significantly
increase the Company's exploration portfolio. Using the knowledge gained from
the drilling of our existing acreage in Guatemala we expect to extract the full
potential of the Blocks and significantly increase Taghmen's reserve base."

More details on the licences including a summary of the fiscal regimes are
included on the Company's website (www.taghmenenergy.com )

The agreement is subject to legal due diligence and is expected to complete on
or before 31st December 2005.

Do you have a policy of posting every day on your tips, just to keep up the ramp?

Link below to further information on the new licences;

Link to further information

LOL....What a pratt (coeliac)

Since when was posting an RNS on a bb a 'ramp'.

-Filtered the twit.

squidd a couple of things people have overlooked, one is the quote from Nick Gay on the recent new licence award RNS (14th Nov 05). The quote from Nick there is as much as saying that they have been successful in getting full potential from Las Casas 3X already, you just have to read the underlying meaning.


Nicholas Gay, CEO of Taghmen Energy Plc commented:

"We are delighted to secure these under-explored assets which will significantly increase the Company's exploration portfolio. Using the knowledge gained from the drilling of our existing acreage in Guatemala we expect to extract the full potential of the Blocks and significantly increase Taghmen's reserve base."

The second point is the potential for Belize Block 19, the upside given to VOG from their find, is nothing to what the upside for TAG could be if Belize Block 19 turns out to be an ace.

Although TAG state that the expected reserves from the 2 new licences is 130 MMBO combined, the Belize Block 19 is expected to give no less than 200 MMBO on its own, and at most it could be similar to the Mexico fields which gives it the massive upside potential.

You can read about the Belize Block 19 on the link below;

http://www.ciglobal.com/document.asp?DocumentID=109

PpP: Thanks very much for those. Having noted the wild ride over on VOG, I'm
going to digest all this at leisure as it looks like food for w.e. reading.

Topped up today squidd, mine was the 15K @ 62.4p buy

Got a feeling news is not far away now, and good news too.

When you are doing your reading of the article in post 113 squidd, I hope the following lines catch your eye, something to look forward too when drilling starts there H2 06 after H1 06 seismic ?

The bit from the article with the explosive fuse for 2006 for TAG in Belize 19 are these lines;
"These features include active oil seeps, giant structures and thick reef-rock reservoirs. Each of these prospects could yield reserves in the giant to super giant category."

PpP: Like you, I was up early this morning, and looking forward to a drive to London to meet some old cronies, but the fog drove me back and now seems to be thickening in the New Forest area, so I'm unexpectedly here in front of my screen.
I was very pleased to read about TAG's new licences, particularly in Belize, as it confirms that Nick G. is extending his empire as we hoped. And the ciglobal details sound really exciting, but I haven't rushed out to order the Ferrari, because browsing through details of all the other cig concessions on offer prompted a relapse into my cynical mode. It reads just like an Estate Agent's brochure of particulars from the good old days before the Trades Description Act curbed their excesses and I find it hard to believe that there are so many known reserves waiting to be exploited.
The news is certainly positive, but for me, TAG remains a gamble in which I'm banking on the professionalism of Nick G. and his team. If the price drifts, I'll consider adding to my already significant holding, but meanwhile, for today I'm focussing on some other prospects, including PMK and PTC. Take a look.

I am hoping that we get the news this week on 3X. Taghmen have been very active, the Fidelity money was likely to urgently do extra seismic on Las Casas before 1X and 4X (and likely due to a significant discovery during 3X drilling), but they have forged ahead with getting the new licences for Belize and Guatemala. They seem very confident just we are missing the news that would put all the jigsaw into place, and that is the flow rates for 3X and resource statement. DYOR but it should be good.

If flow is good and its commercial, Taghmen join the much higher priced producer/explorer and not just explorer anymore. With more than ten new wells to be drilled in 2006, they could end 2006 producing more bopd than some very much higher market cap companies do as we stand today. Exciting times ahead.

Seems we posted near the same time there squidd.

PTC is interesting with the new sim4travel company.

PMK will take a look

Drop back from the past few trading days and a move up today could mean news is not far away now, I hope so.

An interesting post by 64bit, do your own research;


64bit - 22 Nov'05 - 00:28 - 395 of 396

i'd intended to post a short story today... a story about the original
flower spud that ***** drilled at belize block19.
unfortunately, a veto has been expressed.
however, i can tell readers that the angola connection doubled up last week,
and thats good enough for me - these chaps really know their stuff
and are all ex che*ron...
the delay in announcing 3x has been due to local weather shutting down
operations for more than a week.
expect news imminently.
caveat emptor.

Just to add some more info now on Belize Block 19 as it is significant that TAG are working in this potential zone, and also working with USACapitalEnergy.


Firstly it was locked away by the Texan group when it came on offer. Belize Block 19 is on the same Reef Formation as the massive Mexican fields, and has the potential to deliver something significant if Mexico is anything to go by. Oil has been found in Belize, but mostly at the Spanish Lookout area (38API light sweet), and this is not on the reef formation, B19 is plum reef formation and the only well drilled before just missed the pay zones it now appears. Luckily for our Texan friends and TAG, it did miss ;) . The company they are working with is USA Capital Energy, this is where A7 and B19 licenses come from.

The image below shows the field on the Reef strip.



While we should not over estimate B19, its purely speculative, we also should not underestimate what could be a massive reservoir of oil and gas with a semblance to Mexico, so bear it in mind through 2006.

The link below is for the article which follows it;

http://www.gtlaw.com/pub/pr/2001/millerm01a.htm

Company Press Release
USCapital Energy Signs New Oil and Gas Exploration and Production-Sharing Agreement with Government of Belize
WASHINGTON, D.C. -- March 9, 2001 -- USCapital Energy Belize LTD. today announced the Government of Belize has awarded it exclusive oil and gas exploration and production rights in an area covering 900,000 on-shore acres in Southern Belize. The area, known as Block 19, contains the largest untested oil and gas prospects in Belize.
"Were excited about the prospect of discovering significant oil reserves in Belize using methods that have been successful in neighboring Guatemala and Mexico," said Brian E. Richter, president of USCapital Energy. "Helping the people of Belize become less dependent on foreign oil is an added benefit of this agreement."
Mark E. Miller, an attorney with the law firm Greenberg Traurig LLP who negotiated the contract on behalf of USCapital, added, "This is a win-win situation; the government gains access to world-wide expertise and capital to help it develop much needed natural resources and USCapital receives the exclusive right to explore in what it believes are the lowest risk, highest potential return areas of the country."
The contract is among the largest oil and gas contracts ever awarded by the government of Belize. Although Belize has no current oil and gas production, the government is hopeful that activities of USCapital and its partners will help establish production similar to that found in both Mexico and Guatemala.
USCapital Energy is a privately held, Texas-based company that owns oil and gas-producing properties in the mid-continent, Rocky Mountain and Gulf Coast of the United States. The company also holds and manages ownership interests in international exploration concessions in the Caribbean and Latin America.
For additional information, visit www.uscapitalenergy.com

squidd did you find any other information on B19 ?

Quiet day today, 30K buys and 27K sells, complete nothing of a day.

The weather has improved now at LC (better over the past few days) so all back to normal again.

Las Casas Weather link is below and now in the header, yes I am bored ;

http://www.fallingrain.com/world/GT/14/Las_Casas.html

Moving up today :)

....on no volume...what does that mean??

Could be some large T trade buys later to report ?

A good day, keeping a watch on trades Thursday and Friday will be key, if more and more buys come in and the price rises into the weekend, we could be expecting news next week.

PpP: I had thought that the excitement surrounding VOG and AEX might be influencing TAG but a glance at my watch list of 20 oil minnows suggests otherwise. I think people are becoming interested in TAG on its own merits and we shouldn't have too long to wait for news.
sd.

squidd agreed, and I do think news will be this week (but may be wrong)

Good news today, swabbing results are good and the well is to be commercial.

Once acid work is done and a pump installed, we should get some decent flow rates, and the oil is top grade !!

The markets didn`t seem to impressed were they expecting a higher flow rate ,i must admit i`m still not in this .
Oh nearly forgot good call on Oasis.
DB66

DB66 its just swabbing results and a note to say its commercial, we will not know real flow rates until acid work is done, and then pump installed. It could be very good, we just do not know yet, but we have 100 bopd just from swabbing, and that is API 40, the good stuff.

100 bopd just from swabbing is very impressive, and along with API40 makes it there is tremendous upside here, I think many people read it wrong, the figures are not final flow rates, just purely swabbing results, final flow rates will come later, but we know from the news it will be a commercial well, as they state it will be "econimical to produce". All is good.

PpP: It is my impression that TAG are also economical with the news and do not rush into print on a small pretext. Consequently, I feel that anything they say can be relied upon.

Agreed squidd, its all building up, but being released a little at a time, which goes with the small amount of free float, no concerns and adding, at some time in 06 this will explode.

PpP: I would like to top up myself, but no funds available. Perhaps TAG will delay any news until my CSB has peaked again to give me time to release profits.
sd.

My funds are nearly all allocated as well squidd. I am surprised more people are not excited by 100 bopd from just swabbing, and the fact that its API 40. Never mind, I will have a look again later in December to see what I can swap into TAG.

PpP: I think people would be more excited if they understood the implications of the finds. Any chance of an interpretation?
sd.

squidd in simple terms, they are pulling 100 bopd of top grade (API40) oil out through swabbing (like collecting liquid in buckets as a simple term). API40 will command a high sales price.

Now, they will do an acid treatment on the well (this in effect burns the porous holes larger) so that more oil can flow into the well, then they will install a pump and pump out the oil at whatever rate they can after acid treatment. It will be a good flow rate if after initial drilling they get 100 bopd just from swabbing.

Couple of posts from 64bit on afn;


64bit - 5 Dec'05 - 15:27 - 445 of 446

bit of license history..

The original owner and the remaining 50% participant in the licences is
Flamingo Energy Investment (BVI) Ltd. ("Flamingo"), which holds or
controls the two licence holding companies, Compania Petrolera del
Atlantico, SA and USCapital Energy Belize Ltd.

uscapital energy gets the license
http://www.gtlaw.com/pub/pr/2001/millerm01a.htm

passed to concessions international ltd. ..who advertise it with a bit
more info...
http://www.ciglobal.com/document.asp?DocumentID=109

e***n had a great deal of difficulty in the area back in the '70s.
difficulties that don't apply today.
note the text mentions recent local deforestation... dyor.


64bit - 5 Dec'05 - 15:45 - 446 of 446


seems to enjoy a higher profile - almost daily...
--
extracted from International Oil Letter, Vol 21 issue 48 published 2005-12-02
PetroLatina farms-in to Block 7-98 - Guatemala

PetroLatina continues to increase its presence in Guatemala by farming into a 50% stake in Cia Petrolera del Atlanticos (PetroAtlantic) Block 7-98 in the Amartique Sedimentary Basin extension of the Peten Basin of eastern Guatemala. The block adjoins to the south Block 19 in Belize. Both blocks were initially issued to PetroAtlantic in December 1998 but not officially gazetted until August 2001. Due to pressure from environmental groups, the blocks have since been in abeyance awaiting official revalidation by the government. Block 7-98 has been cleared to proceed with exploration while 6-98 is still awaiting clearance. PetroLatina hopes to resolve all outstanding issues by the end of 2005.
--

PpP: Thanks for explaining the details of their recent news and I'm sure all those who read but do not post feel the same.

Major shareholder details updated and should be correct now as of today.

Added a glossary of oil and gas terminology link above in the header for newbies, (yes I am bored)

A write up 9th Dec 05 at www.oilbarrel.com

Link to article

For any newbies, apart from the link above, the present process TAG are peforming is to acidize the well, to increase its ability to flow oil into the well bore from which the pump will take oil to the surface from. In simplest format its like opening the holes on a watering can from 3mm diameter to 10mm diameter say, the more you open the holes, then the higher the flow that is allowed.

"acidize" is to treat oil-bearing limestone or other formations with acid for the purpose of increasing production. Hydrochloric or other acid is injected into the formation under pressure. The acid etches the rock, enlarging the pore spaces and passages through which the reservoir fluids flow. The acid is held under pressure for a period of time and then pumped out, after which the well is swabbed and put back into production. Chemical inhibitors combined with the acid prevent corrosion of the pipe.


Pumps, there are many types of pumps, the most well known are the "nodding donkey" type, as seen in plenty of photo's from the US oil fields.

In recovery of oil from oil wells, pumps are used to draw crude oil from the well bore to the surface well head. The crude oil extracted generally consists of a combination of oil, natural gas, grit, wax and water. The pumps generally comprise two types, namely, continuous flow or on-off pumps, and are powered by either electrical or natural gas motors. Upon emerging at the well head, the crude oil is passed via a pipe to separation tanks where the oil is removed from the mixture extracted from the well bore. The oil may also be temporarily stored in the separation tanks.

The maximum obtainable production rate for a well depends on the rate of migration of crude oil from its geological formation to the well bore. The well bore is unique in having both an inflow and an outflow. The inflow represents the quantity of crude oil that a local formation can deliver to the well bore, whereas the outflow (or rate capacity) represents the quantity of crude oil that can be delivered to the surface (or well head).

This is why the well is being acidized, it is to give the optimum flow rate possible before the installation of the pump. We will only get final confirmed flow rates once the pump is installed, but all pointers are good !!

Sept dated workplans removed and will wait for the new ones to be issued with the updated work plan for 2006.

My estimation will be Jan news on 3X and late Feb news on 1X.

The price has dipped a bit today Papal ,i think this is the time to use my emergency funds you should notice my little buy in a few minutes.

DB66

It has slipped a bit, a good top up chance. ACHL has moved up nicely for me to compensate a little drop on TAG

A new thread for TAG for a new year.

http://www.moneyam.com/InvestorsRoom/posts.php?tid=9206#lastread