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

Company Update Webcast Webcast, watch by clicking here

June 2006 Write Up June 06 Oil Barrel Link Here

May 2006 Write Up : http://www.proactiveinvestors.com/registered/articles/article.asp?TAG

May 2006 Research Report : http://www.objectivecapital.co.uk/taghmen.pdf

April 2006 Presentation : http://www.taghmenenergy.com/documents/taghmen_04_06.pps

Email : info@taghmenenergy.com

Company Profile

Taghmen Energy is an independent oil and gas exploration, development and production company which listed on Londons AIM market in January 2005. It is focused on Latin America and has assembled a group of assets in Central America.

Key Points:

Exploration focus is shifting to new hydrocarbon destinations.
Maturing fields in traditional oil producing regions such as the Persian Gulf and the North Sea have prompted companies to seek alternative destinations for hydrocarbon reserves. As a result, there has been a notable increase in exploration activity amongst the former Soviet Union, Latin/Central America and West Africa regions due to their under-exploited reserves. Much of future oil and gas production is expected to come from these emerging hydrocarbon regions.

... and to the development of smaller fields
With the notable exception of those in the former Soviet Union, new regions however offer relatively smaller fields. Their economics make them distinctly attractive for smaller companies but unattractive for the majors. This has prompted larger companies to focus on production, leaving exploration and development of hydrocarbon reserves with smaller companies. Taghmen characterises these emerging exploration trends in the oil and gas sector.

Corporate strategy entails both exploration and production
What is unique with Taghmen is its intent to be engaged in subsequent production as well. Most exploration companies seek to exit upon the prove-up of their reserves through an asset sale to a larger company. Taghmens intent to be a company maker makes it more selective in licence acquisition. It also offers more comfort regarding the reserve potential of its licence areas.

... and is en route to be implemented through an acquisition
Taghmen is in the process of finalizing the acquisition of Petroleos del Norte S.A. (PDN), a Colombian company that operates three fields close to Taghmens licence areas. The proposed acquisition would provide Taghmen with a larger exploration reserve base, a pipeline infrastructure and some producing assets. This reiterates Taghmens commitment to be a producing company rather than a pure exploration play.

High energy prices underpin the profitability of exploration
Rising demand for energy from fast growing economies such as China and the uncertainty in key oil producing regions are likely to keep world energy prices high. This has reduced the risk profile of exploration projects considerably. Current oil prices make even smaller fields financially viable.

Latin/Central American governments are keen to develop their reserves
As the energy needs of these countries mount, the need to develop their hydrocarbon resources has gained eloquence. Governments are keenly seeking foreign investment and have adopted several policy decisions to attract them to their respective countries. Colombia and Guatemala are no exceptions. Taghmen benefits from these developments
______________________________

Price guide for Mexican/Guatemalan Oil types (3X looks Olmeca type)
http://pemex.com/files/dcpe/epreciopromedio_ing.pdf


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

Glossary of terms used in the oil business : Link Here



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

Glossary of terms used in the oil business : Link Here

Details on what is an oil well : Link Here

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

New September 2005 Investor Presentation (MS Powerpoint);
http://www.taghmenenergy.com/documents/taghmen_09_05.pps


Major Shareholders

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

Major Shareholders : Shares in issue: 82.3m


Major Shareholders....................................Amount....................% Holding

Gregory Charles Smith (Dir)......................13,600,001................16.52
Millennium Global High Yield Fund Ltd........7,153,848..................8.69
Chasm Lake Management Services LLC......5,615,385..................6.82
OCH Ziff Capital Management.....................5,200,000..................6.32
Artemis Inv Mgmt Ltd.................................5,000,000..................6.07
Fidelity Management and Research.............4,745,755..................5.77
RAB Energy Fund Ltd................................4,480,770..................5.44
RAB Special Situations LP.........................3,713,077..................4.51
THIRD POINT LLC.....................................2,800,000..................3.40
Moore Capital Management Inc...................2,538,462..................3.08
Liberty Square Asset Management..............2,500,000..................3.04
Meridian Natural Resources High Yield.........2,423,078..................2.94
Metage Funds Ltd.......................................1,897,470..................2.30

Other directors
James De Vaux Guiang (Dir).......................1,000,000...................1.215
Nicholas Hugo Gay (Dir)............................750,000...................0.911
John McNeil Scott (Dir)............................750,000...................0.911

2006 Work Plan For Guatemala and Colombia

Guatemala (Active drilling 2006 to early 2007)



For Las Casas license

Ongoing = Long Term Production Testing - Las Casas 3X
May to July 2006 ***** Sidetrack of Las Casas 1X
July to August 2006 ***** New Well Huapec 2X

For A7-2005 license

June to July 2006 ***** Workover of Tortugas 4 (any order 4/5/2)
July to August 2006 ***** Workover of Tortugas 5
August to Sept 2006 ***** Workover of Atzam 2
May 2006 ***** 2D Seismic at Tortugas / Atzam
June to Sept 2006 ***** 3D Seismic at Tortugas / Atzam
October 2006 onwards ***** Drilling of 3 news wells at Tortugas/Atzam
___________________________________________________________________

Colombia (Process and Prepare ahead of 2007 drilling)



Midas License

May to June 2006 ***** Reprocess old seismic and Well Studies
June 2006 ***** Geochecmical Survey
August to November ***** New Seismic acquisition

La Poloma License

May to June 2006 ***** Reprocess seismic and well studies
July to August 2006 ***** Geochemical Survey
Nov to December 2006 ***** New Seismic acquisition

PDN Colombia

Details to be issued once acquired

IC Write Up : 21st Apr 2006 IC Write Up Link Here
_________________

Research report (12th May 2006) on TAG in the link below :

Here is the comment from Nick Gay -

"please find a research report prepared by objective capital on taghmen.This covers our existing asset base,but does not take into account any impact of the PDN acquisition.Objective capital has also applied its own conservative geological risk factors to the various prospects.Having done this,they calculate a value for the assets of $84.3 million,well in excess of the current stock market valuation.Removing their risk factors indicates a value of $746.7 million.We obviously have a lot to play for !"

http://www.objectivecapital.co.uk/taghmen.pdf

To continue with a new thread for a new year !

PetroLatina farms-in to Block 7-98 - Guatemala - 2nd Dec 2005


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. Under the terms of the agreement, PetroLatina will conduct a 150km 2D seismic program and pay PetroAtlantic a minimal reimbursement of past costs. In addition, PetroLatina has an option to acquire a 50% interest in the 6-98 license, which is immediately south of Block 7-98 and covers most of Lake Izabel. 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. While there is no immediate plans to undertake any work until the status of the license is resolved, the initial work program calls for the acquisition and interpretation of approximately 460km of 2D seismic, scheduled for the first half of 2006. PetroLatina hopes to resolve all outstanding issues by the end of 2005.

http://www.ihsenergy.com/news/ww_news/common_wwen.jsp?id=3112

Acid work only takes around 3 to 5 days, so we should definitely be on for January news :)




http://www.fourfolddesign.co.uk/energy365new/sigdiscnewsdetail.asp?news_ID=10239

News type = significant discoveries

02/12/2005

Guatamala: Taghman well begins producing high quality oil

Taghmen Energy has now reported results of the initial test of its Well 3X and that the well is currently producing 40 API oil at an estimated rate of 100 barrels of oil per day 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 License 6-93.

Well 3X is Taghmen's first oil discovery and the first new exploration well drilled on the Las Casas structure within License 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 and 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 40 , this is the highest quality oil found to date in Guatemala and should therefore command a price close to world prices. 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 program over the remainder of License 6-93, to confirm further drilling locations.

Source: Taghmen Energy

As an example, progressive cavity pumps are not something to be laughed at in terms of capacity to pump fluids. Just as a standard type PC pump for example has a range of 0 to 160 metres cubed per hour.

Max rate 160 metres cubed per hour is 2.6 per minute

This equals 650 gallons per minute or 40,000 gallons per hour (and that in fluid terms is 18 barrels per minute or 1,142 barrels of fluid per hour).

All that matters for TAG, as its always been, is how well the oil flows into the well after acidisation, and with 100 bopd from just swabbing pre acid work, with one pay zone perforated, pointers are good. Still hoping for a figure in the region of 1000 to 1500 bopd, higher would be nice, above 500 is still fine.

Shake down on no sells volume, normally a good sign of a last shake down for a few days or weeks by MM's ahead of good news, patience is the key, the less sells they can take now, the more it has to rise on buying demand from news :)

It appears its the AGM this Friday, so news coming soon !!

Anyone going please do us a write up so we can read what happened "in the eyes" of someone who was there.

Taghmen Energy PLC
05 January 2006
BUSINESS UPDATE AGM RESULTS
Taghmen Energy Plc, 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 all of the resolutions proposed at the
Company's Annual General Meeting held earlier today were duly approved by
shareholders, including the re-election of directors, the re-appointment of BDO
Stoy Hayward LLP as auditors and authorization to allot relevant securities.

LICENCES UPDATE
Taghmen is pleased to announce that the licence for Licence A7-2005 (Tortugas/
Atzam), in Guatemala, which the Company was awarded in September 2005, has now been officially signed with the Ministry of Energy in Guatemala. The licence is
for a period of 25 years from the award date.
The completion date for the farm-in to a 50% interest in new licences in Belize
and Guatemala, announced on 14th November 2005, has been extended to 31st
January 2006.

PLANNED FUNDRAISING
The Company plans to raise up to US$25 million of additional equity during the
first quarter of this year.

CHANGE OF NOMAD AND BROKER
The company is also pleased to announce the appointment of Seymour Pierce
Limited as its new Nominated Adviser and Broker with immediate effect.
For further information, please contact:
Taghmen Energy Plc Nicholas Gay,
Nicholasgay@taghmenenergy.com
+44(0)2072974360
www.taghmenenergy.com
President & CEO

Pelham Public Relations Charles Vivian
charles.vivian@pelhampr.com
+44(0)2077436672
Alisdair
Alisdair.haythornthwaite@pelhampr.com
+44(0)2077436676 Haythornthwaite

Nothing new apart from Seymour Pierce being appointed.

Now that A7-2005 license is firmed up and confirmed, this means that a few paperwork issues need to be cleared and then work can commence on Tortugas/Atzam wells, so some time February I would guess (same time as sidetrack on well 1X) which will make March/April big months for news.

All we have to do now is wait for the normal commercial flow rate for 3X to be obtained, approved and verified, and then we will have our news to base some cash generation figures on, so more news to come this month (how far they are at present I do not know, could be days or weeks away)

Nice to see a tick up today.

We all still wait for the flow rates from 3X, but patience is key here, the flow rates take time to check, quite a few weeks, and TAG will not want incorrect ones, so the time taken will be the full time, no short cuts, and the flow rating will be one that should only be raised in future, not lowered.

Too many companies rush out new well figures, only to have to lower them a few months later. Good to see TAG doing the right thing, even if it means we have to wait and wait for news on the final flow rates.

Moving up and looking strong again, just changed to 3 v 1.

Nice to see this moving up again,i have posted a piece from Emerald Energy Colombian operations update and by looking at that you can see Taghmen have a much higher quality oil and larger amount of barrels recovered during swabbing.
I do wonder how long we will have to wait as this piece is from 8th November and still no news is forth coming as regards their flow rates.


Emerald Energy PLC
08 November 2005


Emerald Energy Plc

Operations Update

Emerald Energy Plc ("Emerald" or the "Company") is pleased to provide the
following update:

Emeralds first exploration well on the Fortuna block, Silfide #1, has been
drilled to a total depth of 5,114ft and 12ft of net pay identified in the Umir
formation using wireline logs. The well has been cased and a production test has
recovered 38 barrels of 16.2 API gravity oil during swabbing operations,

A good post DB66 ! TAG have only perforated 1 pay zone of the three, and swabbed 40 API at 100 bopd per day !

The chart is looking strong too, a move up and then news would be very nice.

Building up and ticking up :)

On line limits looking strong.

buy: 1,000 shares
sell: 10,000 shares

Taghmen Energy PLC
10 January 2006


TAGHMEN ENERGY plc
('Taghmen' or the 'Company')

Termination of Farm In

Taghmen regrets to announce that despite having agreed in principle terms for
the extension of the completion date for the farm-in to a 50% interest in new
licences in Belize (Block 19) and Guatemala (licence 7-98), announced on 14th
November 2005, the current owner has now advised Taghmen that their offer has
been withdrawn . The proposed farm in deal has therefore terminated.

Nicholas Gay, Chief Executive, commented:

'Whilst it is disappointing that the current owner has withdrawn from this
farm-in deal, we will continue with our strategy of pursuing opportunities in
Latin America and exploring and developing our existing assets in Guatemala.'

10th January 2006

Ah well, the jam tomorrow Belize Block 19 is out at the moment then, but on the plus side it means they save quite a bit of money. At this stage, its probably for the better :)

Bit of a "dissapointment" the jam tomorrow potential of Belize Block 19 is gone, but it was only "potential" and the deal was never finalised. But there are thousands more "jam" exploration area's out there, so no worries there.

The SP hardly moved on the farm in agreement, mostly due to the fact it was going to cost more money due to the requirement of TAG to pay for the seismic work and others. In fact, you will likely find it did not move at all on this farm in agreement.

Do not forget, it was only agreement pending due dilligence and terms, its never been actual, and its just not got past the terms stage, so where is the big problem with that ?

Terms were supposed to be agreed by Dec 31st 2005, that past and nobody cared of even noticed !, until TAG said that discussion had been extended to Jan 31st recently.

If they were being requested to pay more, and put more in in financial terms, and refused, then I am happy with that if they are not going to get ripped off.

Roll on 3X news.

Given the SP fell after the Nov 14th farm in news during the period about 4 days afterwards of the 14th Nov RNS, we should be looking at a rise now, as short term funding requirement is reduced.

Millennium have faith :) and its always good to see yet again existing holders taking more, especially as its higher than they originally paid for their first lot of shares, very much a case of topping up.



Taghmen Energy PLC
13 January 2006
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, focused on Latin America, has
raised US$1million through a placement of 1,106,194 new ordinary 10c shares.
The commitment from Millennium, an existing shareholder, was made a week ago and closed on January 10th at 52 pence per share

The sale of shares will be used to support the Company's working capital
requirements and continuing operations at Las Casas.


13th January 2006


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

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.

Additionally Taghmen was awarded Licence A7-2005 (Tortugas/Atzam) in September 2005. This licence has a 25 year contract consisting of a 6 year exploration licence convertible to an exploitation licence at Taghmen's option. The size of the acreage is approximately 77,718 acres and is located in the north-western corner of Guatemala.

With seismic to be done on Las Casas and A7-2005 in January, and sidetrack, workovers and new drilling planned for February onwards, its a case of taking a best guess as to when the update will be done, it will either be early/mid Feb and along with news on commencement dates for 1X workover and A7-2005 work, or end February/early March once sidetrack/workovers etc....have commenced.

That does not help to people planning to ride the news wave, but for holders for the long term it means late Feb/Mar/Apr and onwards will have some plentiful happenings and news flow.

Fund raising as we know will take place in Q1 and similar format to Millennium no doubt, from Q2 onwards 3X will be generating cash, to then be followed by the other wells.

In 2006 there should be ;

For Las Casas license

Sidetrack of Las Casas 1X
Drill of Las Casas 4X
Drill of Huapec 2X

For A7-2005 license

Workover of Atzam 2
Workover of Tortugas 4
Workover of Tortugas 5
New well 05-1
New well 05-2
New well 05-3
New well 05-4

So potential is for 10 more wells to come on line and producing in 2006 as additional revenue sources to the initial 3X well.

A little tick up today on some light buying so far.

25K T trade buy and then a 24K buy at 61p (a penny over the offer).

I think news, when it comes (and yes it may be a few more weeks yet) but when it comes, it will not be disappointing, I think so ;)

Some people have been asking what price the oil will be worth, so this will help explain :


The type of oil we are looking at for 3X will be API40 and sulfur above 0.5 so this will be similar to Mexican "OLMECA".

This is the good news !!!!

Once its goes above API 38 its called Lighter Oil (or Superlight), which is better than Light oil.

Maya is heavy, Istmo is light and Olmeca is extra light, and in this case 3X looks like it will produce high quality Olmeca.

So what price is that ? Well here is last years average price, and its rising even more now :)

"From January-November 2005 Maya crude oil registered an average price of US$40.35/b, Istmo crude oil averaged US53.07/b and Olmeca crude averaged US$53.72/b."

So now you see why Nick Gay said it can command "highest prices" as its Olmeca.

To add some more speculative but effective reasoning into this ;

1/ API 40 crude is superlight, and not viscose, so where a well that has API 20 or API 25 could well have low flow rates, a well with super light API 40 would have high flow rates.

To explain this for a pumped well : a well has pay zones, and in the pay zone are perforations which the oil flows through into the well shaft, to then be pumped to the surface. As with any liquid, the more viscose (lower API) the slower it will penetrate through the perforations, and the slower it will fill the well shaft, meaning that it has to be pumped at slow rates, like 100 bopd, 250 bopd.
Now, with a very easy flowing high API oil, it will flow easily through the perforations into the shaft, and allow high pumping rates = high flow rates.


2/ Acidisation has been performed on the well, and we take it that this was a success, this means the perforations are now larger, and combined with a low viscosity API 40 oil this will give high flow rates (this is why even at just swabbing there was 100 bopd).


3/ 500 bopd is a target rate, but without being over indulgent, this well could really flow anywhere between 500 and 2500 bopd, if we get 500 bopd its a job well done, over that and its all positive stuff.

500 bopd of "Olemca" would be fine and job done, but think of the real upside of anything over 500 bopd.

Owing to the proximities of Mexico and Guatemala, and that the reef formation is one and the same then you can look at Pemex and Mexican crude types as guides to Guatemala.

Crude Varieties

Most of Mexico's crude oil production consists of heavy crude varieties. During 2004, 73 percent of the country's crude oil production was of Maya, with 22 API and 3.5-4.0 percent sulfur content. The country also produces two lighter crude streams, Isthmus (34 API) and Olmeca (39 API). In general, Mexico retains most lighter crude streams for domestic consumption: during the first nine months of 2005, Mexico only exported 29 percent of non-Maya crude oil production, versus exporting 63 percent of Maya production.


The crude oil recovered can be light or heavy as follows:

Heavy crude oil. Crude oil with API density less or equal than 27.

Light crude oil. Crude oil with API density range from 27 to 38.

Lighter crude oil. C rude oil with API density higher than 38.

Regarding crude oil marketing, Mexico exports three varieties with the following typical characteristics:

MAYA Heavy crude oil, 22API density and 3.3 weight % sulfur.

ISTMO Light crude oil, 33.6API density and 1.3 weight % sulfur.

OLMECA Very light crude oil, 39.3API density and 0.8 weight % sulfur.

As sulfur content is above 0.5% you can see Mexico and this region produces "sour" oil.
____________________________________________________________________________

The following link will show what prices were available for Olmeca type and how its rising up very nicely just as 3X is starting to be pumped out of 40 API low sulfur Olemca type :)

http://pemex.com/files/dcpe/epreciopromedio_ing.pdf

TAG on a tick up. Pump is in the hole and flow tests being done now.

Good news is coming, just be patient, better in than out.

I nearly posted last night Papal just to say i couldn`t believe how quiet this thread and trades in this share are .
Good news like you say is surely just around the corner and some shares in the oil and gas sector seem to be going ballistic!

Yes DB66.

We have with TAG, 1 drill, 1 hit on oil. Oil is API40 and high quality and high value. Acid work is done, pump in the well, flow rates being tested.

They are also doing another 10 drills/workovers this year.

Yet, they are under the radar and everyone is mad for O+G who are doing surveys or might drill 1 hole this year...................do not worry DB66, on the best shares the clever people arrive before the crowd, just like VOG in the 30p range (provided the plan goes well of course)

On the chart the gap is full, its ready for a breakout when we get the flow rate news on 3X...........

Even at 500 bopd it would generate cash sales of near 9m US$ a year, now if its 1000bopd it will generate double that. 500 bopd is the target, but on API40 oil there is plenty of chance for upside in the flow rate. Better to be in than out waiting for this news, even if we have to wait 2, 4 or 6 more weeks.

There are a few buys starting to come in at last.

Probably some recent VOG profits finding a home in TAG ahead of news. I am sure some will have taken profits and will now spread over the likes of TAG, EME, CHP etc.....

Another small tick up,i`m sure people will soon notice this one.
Hasn`t Evil got a few of these?

Yes, EK is long on TAG, and also very impressed with the set up and management I hear. TAG is another one like VOG, one to buy in and hold, the year end price of both will be much higher than it is now.

Nice move up today so far, lets hope we build up a head of steam now into that news flow.

A buy at 65p towards to the end, should be opening strong on Monday then.

With a large buy at above the offer in the afternoon, should be strong next week. Amazing thing with TAG is that any buying volume, given the very small free float, will make it move upwards fast, Friday was only 70K buys and it gave an 8% rise. When the news comes on 3X flow rates, if its good (and I do not see any reason why not), you can imagine what will happen, but also it does not end there, including the sidetrack due on 1X starting Feb, another 9 drills/workovers in 2006. Plenty of news and a growing oil production levels will be TAG in 2006, not just speculative, producing, and what should be, large amounts. Firmly beleive TAG is one to be in, and hold for the duration of 2006 (and 2007).

Fridays action below :

If you take the 2006 workplan above and put some figures into it, not pie in the sky ones, just normal ones given the low risk involved, and the price currently is showing nothing, not even 3X pending flow news. I have put some figures of where I think flow rates will be for the 2006 workplan as below

For Las Casas license
Into production Las Casas 3X (1000 to 1500 bopd)
Sidetrack of Las Casas 1X (1000 to 1500 bopd)
Drill of Las Casas 4X (1000 to 1500 bopd)
Drill of Huapec 2X (1000 to 1500 bopd)

For A7-2005 license
Workover of Atzam 2 (0 to 500 bopd)
Workover of Tortugas 4 (0 to 500 bopd)
Workover of Tortugas 5 (0 to 500 bopd)
New well 05-1 (1000 to 1500 bopd)
New well 05-2 (1000 to 1500 bopd)
New well 05-3 (1000 t0 1500 bopd)
New well 05-4 (1000 to 1500 bopd)


So my expectation is around 8,000 bopd output by mid 2007

Interesting set of figures Papal but i`m setting my expectations a bit lower than the 8,000 bopd you suggest possible.
I do wonder with such a busy work plan for 2006 if delays won`t be inevitable.

Having said all that i`m really looking forward to this share really taking off now ,it really has been overlooked ! Just looking at the number of posters on this thread compared to other oil and gas threads proves that.

Squidd are you still in these?
Haven`t heard from you for a while.

DB66 I hope my figure is low compared to actual :) I am basing some of this on old reports on the A7-2005 license, which TAG has now officially been awarded. I have discounted the workovers down to 0-500 due to ageing.

Old info is :

"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."

I topped up in the dark days during the Autumn and so am sitting on a goodly pile of TAG in anticipation. Have since continued bottom fishing, focussing on sickly looking stocks such as APA & PMK. Will comment further later in week, but meanwhile am grateful to PpP for keeping the faith and the excellent newsflow.

squidd
what I like about PP is that he actually seems to understand the companies he writes about.

coeliac1 I try my best, but what happens at the higher levels of corporate in any company, who knows. so at least if we can understand whats happening at the visible levels, it stands us in good stead.

Well no fireworks today then! i must admit i`m a bit disapointed that we didn`t even get a tick up on the SP given how Friday ended.
Oh well maybe tomorrow?
DB66

Patience is a virtue DB66, as in this quote from the biography of Warren Buffett :

"At eleven years old, he purchased three shares of Cities Service Preferred at $38 per share for both himself and his older sister, Doris. Shortly after buying the stock, it fell to just over $27 per share. A frightened but resilient Warren held his shares until they rebounded to $40. He promptly sold them - a mistake he would soon come to regret. Cities Service shot up to $200. The experience taught him one of the basic lessons of investing: patience is a virtue."

PP & db66

Thanks to PP for putting this excellent though quiet thread together. Very informative. As you know, only approx 4.5M shares in public hands at this time. Just tried to buy online and no shares sloshing around, had to go through the Trading Desk to place my order (albeit relatively small) so would think that any future positive news will have a significant effect upwards, unless the MM's are holding on until that time on purpose.

I will try to be patient, and although no fireworks today no selling either, thus far.

PapalPower,
You are an energy investor obviously, are you into uranium?

What do you think of UEP's latest news release this morning?, also they intend to purchase an oil / gas prospect in kazakhstan and some of major shareholders have recently raised more money to maintain there interests in investments, it maybe coming soon.

jimbobGR just in after a busy morning, and looking around todays trades and posts, so will take a look later today at UEP.

silvermede, a lot of potential on TAG, and one I am sure will be very much higher at Christmas than it is now.

Your right about being patient Papal that is one lesson that i also have learn`t the hard way.
I know i haven`t been in Tag long but it feels longer because i have followed it since you started the other thread.
I`m a bit surprised that the SP hasn`t moved up a fraction given the trades are all buys so far today.
Also it is nice to see some other people on here and agree with silvermede and coeliac1 comments about your research.

DB66 too many people are trying to chase quick profits, its the same old same old temptation of get rich quick, all they end up doing is losing their money by buying high and selling low, so best to find some stocks that have good potential and stick with them, through thick and thin :) Its the safest way of making money :)

Things look even now, so another buying day tomorrow should see a mark soon, this week or next.

Some positive buying volume again today

Good news is coming ;)


Colombia Approves 8 New Oil and Gas Exploration Contracts

Archived Story
by Inti Landauro
Mon, Jan 30, 2006 20:55 GMT

BOGOTA - The Colombian National Hydrocarbons Agency said Monday it had approved eight new oil and gas exploration and production contracts and five preliminary contracts of 2006 for a total of $38 million in investments.

The ANH, as the agency is known, boosted the negotiations of such contracts as part of an effort to encourage the discovery of new hydrocarbon reserves.

The Australia-based mining company BHP Billiton LTD (BHP) secured two areas of about 475,000 hectares each in the Caribe Offshore basin. The company plans to spend about $13 million in each areas during the next six years, the ANH, said in a statement.

The ANH also granted rights for exploration to Occidental Petroleum Corp. (OXY) in an area called "Cascabel" in Magdalena river basin. The exploration program will last 4 years and includes a commitment to invest $1.9 million in the 46,000-hectare area.

Hocol SA, the Colombian unit of French oil company Etablissements Maurel et Prom SA (5107.FR), committed to invest $6.3 million in exploring two areas in the Llanos basin in the Andes foothills.

London-based Taghmen Energy PLC (TAG.LN) secured the Midas block, which is located in the Magdalena river basin. Taghmen's exploration six-year program includes a $1.5 million investment.

Canada-based Apex Energy Energy Inc. also secured the rights to seek oil and gas in the Magdalena basin. Apex committed to invest $1.1 million during four years.

Finally, Colombian company Competrol committed to invest $199,000 in exploration in the Chicuaco area of the Llanos region.

In addition to these contracts, Russia's largest oil producer, OAO Lukoil Holdings (LKOH.RS), Occidental Petroleum and Spain-based Compania Espanola de Petroleo SA (CEP.MC), London-based Texican Oil PLC and state-owned Colombian oil company Ecopetrol (ECO.YY) all secured rights to carry out preliminary evaluation - a step before formal exploration - for five different areas in the country and committed to invest about $1 million.

The ANH had signed 31 exploration and production contracts in 2005, more than the 30 originally planned last year.

The administration of President Alvaro Uribe hopes the new contracts will lead to the discovery of new oil reserves. If Colombia fails to find new reserves, the country will become a net oil importer by 2011, said National Hydrocarbons Agency Director Armando Zamora in November.

Vast territories, potentially rich in hydrocarbons, remain unexplored in Colombia, which shares many of the geological features of its oil-rich neighbor, Venezuela. The Llanos and Magdalena basins, in particular, may have significant reserves.

According to the Finance Ministry, average oil production may have increased to 519,350 barrels a day in 2005 from earlier estimations of 510,000 b/d, after the government approved several actions such as extending association contracts due to expire and ensuring that international companies maintain investments until wells are so depleted that they are no longer commercially viable.

2006 Dow Jones Newswires.

At a guess we will get an Friday RNS about the new license and also that a wedge of shares have been issued to one of the larger institutions, and then next week we should be looking at some decent rises. Watch this space ;)

Well given news has leaked out about the new licence i`m amazed at such poor reaction from the market.
DB66

.DB66, they are lidding the price while corporate action in the background I think (insti's giving money for another wedge of shares / funds are for the 2006 programme of work as we know already), lidding will do one thing, coil it like a spring, and when the lidding stops, off it will fly, possibly timed in with 3X news.

http://www.rigzone.com/news/article.asp?a_id=29067

"London-based Taghmen Energy PLC (TAG.LN) secured the Midas block, which is located in the Magdalena river basin. Taghmen's exploration six-year program includes a $1.5 million investment."

This new Magdalena Colombia prospect sounds very very interesting !


"Subject

02 PETROLEUM ; COLOMBIA; OIL FIELDS; STRATIGRAPHY; RESERVOIR ROCK; FLUID FLOW; PETROLEUM; ORIGIN; RESERVES; SOURCE ROCKS; MATURATION

Description/
Abstract

The petroleum systems of the Middle Magdalena Valley include 29 oil fields and numerous oil seeps with recoverable reserves of 3 billion barrels of oil. Based on API gravity, sulfur content, pristane/phytane index, carbon isotopic ratios of the saturated and aromatic hydrocarbon fractions, and biomarkers, at least two oil families occur within this province. Each oil family covers a different area. Based on stratigraphic occurrence, one oil family originated from the Tablazo Formation of Aptian age while the other oil family originated from the La Luna Formation of Cenomanian to Santonian age. Both of these rock units have high organic carbon contents and hydrogen indices indicative of petroleum source rocks. The primary reservoir rocks are the Tertiary sandstones of the La Paz, Esmeraldas, Mugrosa, and Colorado Formations. The La Cira Shale, a regional seal rock, is the uppermost part the Colorado Formation. Secondary reservoirs are limestones of the Tablazo, Rosablanca, and La Luna formations, and sandstones of the Lisama and Umir Formations. An Eocene unconformity separates the primary reservoir rocks above from the secondary reservoir rocks and active source rocks below. This unconformity places the primary reservoir rocks in angular discordance with the underlying active source rock intervals, forming the main plumbing system for migrating petroleum. Traps are related to pre-Andean and Andean folding and faulting. Overburden rocks are Cretaceous marine, Paleocene transitional, and Eocene-Pleistocene nonmarine sedimentary rocks. Thermal data and modeling indicates that the thermal history of the source rock intervals was sufficient to generate hydrocarbons during late Tertiary time. "

I think we can look forward to some news soon then, as they have to announce this once its signed :)

In case anyone is wondering why no RNS on the Colombia new license, it is due to all the licenses awarded need to be signed off, from all companies including TAG, therefore TAG cannot announce it as being a done deal until this red tape is complete, but the press reports are correct ;)

Some posts on AFN, which I agree with :) Good times not far away I think.

HABAYYUT - 6 Feb'06

hi papal

imho the placing will be at 55.5p

the placing will close middle of this week and possibly announced this coming thursday or friday.

it will not be discounted too much to the current price, it wont be at 52p

the news re Colombia will be rns'd possibly this week too.

i have added to my position via a further SB.

HABAYYUT - 6 Feb'06 -


Daz

to be honest, i am expecting multiples of this price by year end. given the liquidity issue, and having spoken to the people in charge and Seymour Pierce, they have high high hopes for TAG.

the placing is being done with institutions that are fully on board with the business plan of TAG and all it takes is to look at the history of Nicholas Gay at Petrokazakhstan and J Scott, and you know that these men will not be failing.

they are putting all the blocks in place imho to facilitate a rapid development of TAG.

the SP placing, at around 55.5-56p imho gives the clear indication that the institutions also know where this is going.

Having over 92% of the stock tightly held means that on the newsflow predicted from TAG over the next few months / 6 months et al this could potentially do a AEN or VOG.

PpP: Excuse intrusion, but wanted to warn you that I've sold ELA - my best deal ever, and will be using funds to top up in TAG.

Well done on ELA squidd, pop in here anytime you want :) !! I have been in and out of ELA after your tip off, so thanks for that !

TAG, once we get this funds news out of the way, and should be this week, we should be away and flying in 2006. I do hope so ! :)

Great news, the fund raising is all done, and now we move on, to lots of news and drills :)

Taghmen Energy PLC
10 February 2006


Not for distribution in the United States

TAGHMEN ENERGY Plc

COMPLETION OF 15,000,000 FUNDRAISING

Taghmen Energy Plc ('Taghmen' or the 'Company') (AIM:TAG) an independent oil and gas exploration, development and production company focused on Latin America, is pleased to announce that it has completed its fund raising announced at its Annual General Meeting in early January and has raised 15million, before expenses, through placements totalling 27,272,727 ordinary shares to UK and US investors, at a placing price of 0.55.

The funds raised will be used to finance an active 2006 work programme, concentrating on drilling to achieve production and prove up existing reserves.
This will include four new wells, three work-over wells and one sidetrack well on the Company's Guatemalan assets. The Company will also continue to search for further exploration and development assets in Latin America, where a number of opportunities have already been identified.

Application has been made for the new ordinary shares to be admitted to trading on AIM and dealings are expected to commence on 15 February 2006.

The placements were made by Seymour Pierce in the UK and Natexis Bleichroeder Inc. in the US.

Nicholas Gay, Chief Executive Officer, commented:

'This fundraising will allow us to fund an intensive drilling programme to increase production and prove up our reserve base which should enhance shareholder value. We are also pleased to have expanded our shareholder base with this fundraising.'
10th February 2006

For further information, please contact:

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

In answer to my question, "Did they have the necessary drilling equipment for the wells identified in the annoucement above", Nicholas Gay sent:

'We have our own service rig to complete the three work overs and we have a drilling rig under contract to drill the sidetrack and one of the new wells, that on licence 6-93. We will need to contract a rig for the new wells on Licence 7-2005.

regards

Nicholas Gay'

Lostandfound, good post, and just think of the news flow coming this year, TAG is going to be one exciting ride upwards I think.

This was the news on Caspian, and it is a similar annonuncement on flow rates we wait for on TAG for well 3X :) Not much longer to wait, now the funds restraining chain is taken off the SP from Monday morning :) good news can now flow as well.




Caspian Energy Inc
09 February 2006
CASPIAN ENERGY INC.
("Caspian" or the "Company")
Test Results for East Zhagabulak #301
TSX: CEK
AIM: CEK

Caspian Energy Inc, an oil and gas exploration company operating in Kazakhstan,
today announces that Aral Petroleum Capital LLP ("Aral"), in which the Company
holds a 50% indirect interest, has completed a successful flow-test in the
Zhagabulak Area in the southeast corner of the North Block.

The Company's first exploration well, East Zhagabulak #301, reached a total
depth of 4846 meters and encountered approximately 101 meters (331 feet) of net
oil pay in Middle Carboniferous reservoirs. The well is being tested in two
intervals. The lower interval, the primary target in the well, tested at rates
of 2,532 barrels of oil per day (b/d) of 39o API gravity oil, following
acidizing. The upper zone, a secondary target, is currently being acidized and
testing is expected to be completed in the near future.

The logging programme for well EZ #301 has shown that the well is 38 meters
updip to the offset producing well (EZ #213) and that apparent productive
intervals were by-passed in earlier Soviet era wells. The Company is
investigating a programme to add production through major workovers on EZ #213,
and a near offset plugged well EZ #211.

"We are very pleased with the success of our first exploration well in the North Block and this result exceeds our initial expectations and confirms our
exploration strategy," said Charles Summers, Caspian Energy Inc. Chief
Operations Officer. "The field pipeline is already installed and this well is
currently flowing to our production facility. Our second exploration location,
EZ #302, approximately 3.6 km. southwest of well 301, has set intermediate
casing at 3003 meters, and is expected to reach total depth before the end of
March".

Nice little bit from Greg Smith after the last big rise on 3X initial drill news last year :


Founder and chairman Greg Smith has a stake worth multi millions, but he wasnt bothered by the share leap. He said It makes no difference to me Im building a business for the long term here.

Taghmen is named named after its founders children, nephews and nieces, it stands for Tess, Abby, Greg, Hannah, Mary, Emily and Nick.

Mr Smith, 44, gambled 1.8million of his own money last year on rights to explore in Guatemala.

He said: A lot of people didnt believe it, even though its always been known there was oil in Guatemala. This is just the tip of the iceberg, though.


Onwards and upwards !!

As Greg Smith said, he started all of this with his own money, and people could not believe him doing it. That is a very positive sign to me, that come year end, TAG will be producing plenty of oil from Guatemala.

Roll on 3X flow rate news and Colombia License announcement.

Did anyone else spot the little sign from Nick Gay in the Friday RNS.

He said "increase production", does that not mean you have some already, its not "start" but its "increase", and is that not a subtle statement that 3X is producing, meaning flow tests are ongoing and oil being produced, as we already suspect ;) TAG is priced at not having found any oil and not even about to drill a well equivalent, when it has actually drilled one, found oil and now doing flow tests :)


Nicholas Gay, Chief Executive Officer, commented:

"to increase production and prove up our reserve base which should enhance shareholder value"

Got TAG and ACC now as possible "ups" for the coming week, and LEAD as a "keep an eye" for movement (like upwards).

I hope so Papal i`ve seen a lot of your stocks making some large gains but i seem to pick the ones that go bust or tread water.
I`m looking forward to the coming weeks and months with this one though.

DB66, I am looking forward (and upwards too) to the whole of this year for TAG :)

A lot of buys going through already this morning .
I wonder if we can expect any news today,it would be a nice way to start the week.
DB66

DB66, I would not expect any news or big rise until Wendesday earliest, when the new shares are in. So if we are to get any news this week, Wednesday earliest, if not Thursday, but it could still be weeks away, it depends on when they want to release it, based on how many days they want to flow test before giving indications.

Strong day, coiled spring, held back, say no more, not long to wait :)

Sold EKY, using to add to TAG.

Technotamed, would not expect any major moves until Wednesday earliest, new shares coming on line etc.....so 15th is the date it can start doing what it wants I think.

I`ve added a few more just to coil the spring a little bit more! just a little mind you!

Thought about adding to UNG but i`m a little apprehensive to do so at the moment.
DB66

oooops wrong board

Papal - I'm onboard now with approx 10K. Looking forwards to the ride!!

May I ask what your personal targets are for TAG in the next 12-24 months?

DB66 I can understand the apprehension on UNG, March will be a better month for signals, Feb was always going to be volatile on UNG and a move down.

Aerotus, good to see you on board, I would conservatively say over 200p year end, good performance could be 300 to 400p in 12, 24 months, who knows, certainly a lot lot higher than where we are now :)

I am also on board wont let this one slip away. Managed to catch EKY at the right time lets hope we have a repeat performance. GOOD LUCK guys!!!

PP do you think this will do as well as EKY did last week??

xxxheroxxx over time now that funds are sorted, this one should deliver far more gains than EKY, I am hoping for over 200p by year end, maybe more from TAG. They have so much news to flow this year, that is the oil bull run continues this could seriously finish the year much much higher. They should release news very soon on new Colombia license deal and also commercial flow rates from well 3X. The present price takes no account of well 3X being a producing well.

PP I have done some in depth reading into TAG and it does seem there is a lot of potential. Hopefully some results and news flow will begin soon. No doubt you are right again looking as your recent track record.

Keep up the good work. CHEERS :)
I take it you are still on board with VOG, any ideas as to when results are due for Well 104!!!

I would take more from this, for the new A7-2005 license in Guatemala, TAG say approx 16 millions barrels recoverable, but the goverment say 45 million (lots of upside to come there) so when they say 90 million for Midas, that is a very low estimate and allows plenty of future upside too, I would imagine ;)



Taghmen Energy PLC
15 February 2006
TAGHMEN ENERGY Plc
Award of New Licence in Colombia

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 the Colombian
National Hydrocarbons Agency ('ANH') has awarded the Company an exploration
licence, covering a block in the Middle Magdalena Valley Basin. The Company
believes the region is highly prospective and has identified leads that are
estimated to have the potential for recoverable reserves of up to 90 million
barrels from the licence.

ANH awarded seven additional exploration and production contracts at the same
time, including, amongst others, two to each of BHP Billiton and HOCOL (Maurel & Prom) and one to Occidental Petroleum Corp. This highlights the resurgent appeal of Colombia to the international oil and gas industry.

Summary of Licence
The licence in which Taghmen has obtained an interest is known as 'Midas' and it is situated in the Middle Magdalena Valley Basin, adjacent to producing fields.

Taghmen is the operator of the Midas licence and holds a 70% interest. It is
planned to shoot and reprocess approximately $1.5 million of 2D seismic late in
2006. Several leads have been identified which provide the potential for
recoverable reserves of up to 90 million barrels (63 million net to the
Company).

The initial work programme for Midas covers a six year time frame. It is
possible to relinquish a portion of the licence at the end of each year.

The licence will be governed by a newly updated ANH contract, which eliminates
the Colombian Government's 'right of back in' and reduces the level of taxation
from that which previously existed.

The Company now has 30 days to enter into the licence agreement for Midas and
establish the appropriate corporate structure for holding that licence.

Nicholas Gay, CEO of Taghmen Energy Plc commented:
'We are delighted to be awarded this asset in a highly prospective region, which complements our existing assets in Guatemala. Colombia offers tremendous
potential, and is becoming increasingly accessible to independents as it seeks
to encourage the search for new reserves, leading to highly attractive licence
terms.'
15th February 2006

For further information, please contact:

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

www.taghmenenergy.com
President & CEO

Spot on Papal ! i`m glad i topped up with a few more yesterday.
All i need now is UNG to come good and your on my Christmas Card list.
LOL
DB66

am i right in saying they havent actually found anything yet, but speculation is there should be good finds in the areas they have the licences to search?? any ideas when first results of testing should be in??? definatly interested but trying to clarify a few things. thanks

Doubled my holding today.

Also doubled my EME holding.

DB66, I honestly think UNG is a shake to get rid of a load of small holders, and therefore reduce the size of the shareholder list. Wait for end of this month, March, should motor upwards, I hope so !

Kivver, they have already drilled well 3X, its hit oil, the well had been acidized and pump installed, now we wait for flow test results. They are doing another 8 drills/workovers this year. The news today is a new license and expansion in Colombia, which will mean seismic late in 2006, and drilling there in 2007.

Todays news was known already (see the header above) the big news is 3X, that could push this way upwards. Expectation is 500bopd from 3X, that would be good, but a higher figure would give great upside.

cheers pp, looks like im going in.

MMs screwed me yesterday with my purchase. So I just bought another 5K.

I am making my first small investment in this company also - could be an interesting venture !

Baza

Kivver and Baza, its going to be a very interesting year, so much potential. To put it into perspective, EME has 38.5% share of Eagle North 1, being a well which after the present vertical drill is found ok, required horizontal drilling and may, if all successful, produce 1000bopd in around 6 to 8 months time.

TAG has drilled their first well, done all the work, have the infrastructure in place, and we all hope its going to be 500 to 1500bopd commercial flow, announced soon.

So, EME 38.5% share of 1000 = 385bopd, and TAG a load more than that we hope, so you see, with 8 more drills to come in 2006 and news on 3X pending, I think TAG represents an interesting play. Obviously EME has Glantal as well, but thats high risk stuff, and should have a large discount on it, TAG is all very low risk area's which have produced in the past (apart from Colombia now, but that will be 2007 drilling programme)

Just bought ANOTHER 5K, it just went through. Itchy fingers today, I wanted to buy more TMC but IG Index have reached their limit. A very bullish sign!

I wanted to top up with enough TAG before IG stop taking bets on that too! :)

Sounds good Aerotus :)

Just bought in, Majority buys this morning

"Taghmen is named after its founders children, nephews and nieces, it stands for Tess, Abby, Greg, Hannah, Mary, Emily and Nick."

That is so cute! :)

A couple of large trades today at 61.5 and 61.8p

Could these be delayed sells from yesterday which has been holding the price down? Once this overhang is cleared, we should move up steadily.

Just seen PVR and looks interesting, thinking about jumping on after the profit taking has finished. Does anybody have an opinion on this stock please, only been trading since October so keen on any advice from you kind pro's out there.

Artemis (one the best performing funds) have accumalating 5 million shares got to be a good sign.

Good news today, Artemis taking a large stake in a late released RNS. A lot of people missed the 2nd RNS after 4pm saying about Artemis stake.

Aerotus, I think they were buys today, buybacks perhaps from earlier sells ? ;)

RNS Number:6098Y
Taghmen Energy PLC
17 February 2006

TAGHMEN ENERGY Plc
www.taghmenenergy.com
NOTIFIABLE INTEREST

Taghmen Energy Plc ("Taghmen" or the "Company") an independent oil and gas
exploration, development and production company, focused on Latin America, has
received the following notification of interest:

Artemis Investment Management Limited ("Artemis") notified the Company today
that following the recent fundraising, Artemis has a beneficial interest in
5,000,000 ordinary shares of US$0.10 par value which represents approximately
6.07 per cent of the ordinary issued share capital of the Company.

More Colombia news :) A second Colombia license :)

From the Sunday Times !

"Oil firm lands Colombian stake

TAGHMEN ENERGY, an AIM-listed oil-and-gas exploration and production company that claims to be Britains biggest investor in Guatemala, will announce tomorrow that it has acquired a large stake in a second licence to explore in Colombias Middle Magdalena Valley. The prospect may contain up to 20m barrels of oil reserves, the company said. Last week, Taghmen won a licence in the same region for a prospect that is estimated to have up to 90m barrels. Taghmen, under chief executive Nicholas Gay, is in pole position to benefit as Latin American oil and gas markets are privatised"

I agree with the "pole position", and it is their intentions over the coming years to make TAG a big player in Latin America.

The Million Dollar question now is, will it rise on Monday and keep rising now with this second good news coming, or will it rise and fall back again ? Wait and miss out ? or go in early and watch it come back ?...........

Hi PP just wondering why you treat tag so differently to chp. After watching your excellent performance in the champion investors have lots of respect for thoughts.

.Hi Kivver, its risen very fast, on the back of tips since January and lots since last year. The latest tip update I see on CHP says "speculative hold", this was last Friday. In one years the price is now times 7 and in one month its times 2. I think its too hot and frothy at the moment, it will probably go higher immediate short term, but then I expect a retrace back to fill the gap in the charts.

I have added in a link above on "What is an oil well" for newbies to gain a further understanding of a well and how it works and what the jargon means, and to restate some of my earlier comments on 3X :

As per the RNS well 3X was swabbed at 100bopd with just one zone of the casing perforated in the area of one of the pay zones. Well 3X has three pay zones, therefore when the other 2 zones of the case were perforated for the other 2 pay zones, the amount of potential bopd from simple swabbing would greatly increase. We do not know by how much, as we have no further information other than just for just a single pay zone perforated. Acid work was done to stimulate flow, this by all accounts was very successful.

One pay zone being 100bopd from swabbing alone, times by 3 for all pay zones perforated, the times by the "X" factor for acidisation (material increase in flow rates due to deep pentration, opening of veins and cleaning from the acid work), add a pump and you can get some very exciting flow rates, which is why although 500bopd is a target, the final flow rates could be well in excess of this figure, the emphasis is on "could be", but the potential is very much there.

Taghmen Energy PLC
20 February 2006

TAGHMEN ENERGY Plc
Interest in New Licence in Colombia

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 it has agreed terms
that will lead to the Company acquiring an interest in an additional licence in
the Middle Magdalena Valley, Colombia.

Under the terms of its arrangement, Taghmen will ultimately acquire a 65%
interest in the licence but will not be Operator. Taghmen has identified several leads that could contain potential reserves of approximately 20 million barrels (13 million net to the Company). The initial work programme covers a four year time frame with approximately $1 million to be borne by Taghmen in the first year related to a new 2D seismic shoot, together with the reprocessing of existing data. Following the initial programme the Company can choose to proceed with further work or to relinquish a portion of the licence at the end of each year.

The transaction is expected to close within the next 45 days and is dependent on the underlying licence being successfully issued.

This follows the award to Taghmen of the 'Midas' licence in the same region, as
announced on 15th February 2006, which is estimated to have the potential for
recoverable reserves of up to 90 million barrels.

Nicholas Gay, CEO of Taghmen Energy Plc commented:

'Upon successful completion of this transaction, our Colombian interests will
have the potential to add nearly 80 million barrels, net to Taghmen, to our
existing Guatemalan potential reserve base of approximately 45 million barrels.
The attractive new licence terms and tremendous hydrocarbons potential of
Colombia made it an obvious choice for the expansion of our Latin American asset base.'

20th February 2006

For further information, please contact:
Taghmen Energy Plc Nicholas Gay,
Nicholasgay@taghmenenergy.com +44(0)2072974360
www.taghmenenergy.com

Some decent buying today, lets hope it continues and as soon as we have Cannacord clear, we can have some decent rises.

I hope this times in with 3X news coming out.

And we had our first MM buy for a long time this morning, how about that, impressive or not ? ;) LOL

PP,

Please would you explain what the 'Cannacord' issue is and why this is affecting the shre price?

In this morning.

PP,

Please ignore my last re Cannacord found the answer on another board.

Cheers

Cannacord, the now removed TAG broker, and in place of them we have Seymour Pierce. Cannacord are also an MM (CANA) and appear to be selling for a client of theirs. When this is finished, I would expect a strong rise on TAG.

Yes Papal - Unfortunately we will need to clear out that seller. I did my part by adding another 5K. Holding 30K now :)

525K and 125K trades just materialised. These must surely be the accumulated sells which have kept the price down? On and upwards from here?

But the price of 63p and 62p would indicate they are buys. Very strange??

Strange, but the on line sell limit is now ore than the buy limit.

Hopefully this signals the seller is nearly out and things can move on.

The 525K was at 63.05p, I wonder if there is some shopping going on to clear out the seller.

I took a further interest in this one early doors,expecting the upward curve and I know of others joining in.What I cannot understand is the performance against EME which is looking to be a real star.

ShearerShearer, I would not compare TAG and EME for a start, both very different. EME has that "blue sky" appeal, and is being helped by some generous, errrr statement.

TAG is a different kettle of fish, not presently having "blue sky" potential, but much more solid and one that will grow solidly over time.

To put it another way, so far there is no news in EME that makes it worth over 50p (EN-1 is NOT confirmed as commercial as per the RNS yesterday, needs more work, and G-1 has not found anything "confirmed") so EME could fall flat down back to previous levels, wheres TAG has money in the bank and a lot of low risk assets. That is your risk/reward ratio, higher risk = higher possible rewards.

Do not get me wrong, I do hope all goes well for EME ! and everyone makes loads of money from it, but I am saying its still just a "high risk" punt.

TAG is considerably derisked by comparison, should rise well, but is not a ten bagger that EME could be, maybe just a 2 or 3 bagger in 2006 :)

2 or 3 bagger? Is that all? Boring!!! :)

If only that was the norm and boring Aerotus :))

There's another 150K T sell marked at 63p! Thats 1p higher than the midprice. Very generous considering it was definitely a sell which kept the lid on the price today. There can't be that much more to go.

suprised by lack of trading and activity considering it seems to be heading quite a few bb's. but im in and waiting, hoping. lol.

When there is this kind of behind the scenes movement going on, it will just hang around and bob up and down, and the suddenly when you least expect it, it will move quickly.

My estimate on 3X results is 2 to 3 weeks away now, my best guess for timing.

Papal - There have been loads of buys going through this afternoon. Any comments??

30K and 50K rollovers in there, but a B trade today at full offer 64p, so again good signs, ignore short term movements and look forward to March.

(PS, I have taken a position in ELP today, ahead of Jaguar drill results, high risk/high reward, just like EME was all those days ago at 30p :)

And those 200K T buys! HMMMM!!!!!

Aerotus :)

this one looks great and im in and loads of attention on quite a few bb's anyone got idea when the share might actually start doing a chp and rpt and going very well in the right direction ie UP! PS i have confidence it will do so but its the excitement i cant wait, lol.

I would guess excitment due to commence around mid March time :)

I really thought we would have had news on flow rates of 3x by now,anyway that might work in my favour and give me time to sell some of my CHP holding and add some more TAG.
It seems you can`t go wrong with oil stocks at the moment ,although the SP of TAG really has not done anything yet.
Roll on March!

DB66, sometime around mid March for 3X flow rates.

Well done on CHP ! I am now in (small high risk punt) on ELP as well, high risk, but if they get oil on their Jaguar drill (results in a week or so) the upside is massive for ELP (but say again, its very high risk)

Got into this on Friday with profits taken on EME.
Prepared to sit back and wait now.

I will be very interested in movments this week, there was no reason for the slight tick up on Friday afternoon, so was it just to allow us to drop down Mon/Tue, or was there some real meaning in it ?

L2 up today, now 2 v 1. Is this a sign ?

I bloody well hope so! LOL!

Some decent buys at full offer, and no major sells.

Perhaps what happened was just a Feb re-alignment, and now from March we are going to fly, with 3X news just a couple of weeks away I think.

im getting scared now! down is the wrong way! lol!

Doesn't take much to scare you does it. LOL!

2 T trades.

One at 62p, one at 61.5p

Possibly buy orders that have been filled.

What you reckon Papal?

Kivver, sorry for just a simple quick post today, busy and in deepest darkest so not much availability of net connections.

When you see a small end of day drop like today, take a look back a couple weeks, and see if there was news..........and if there was then its just they know a few T trades are due to be sold or rolled over, and will drop accordingly.

Looking fine.

3 research reports coming out soon.

One from SP, one from NB and one independent.

they say the trend is your friend, hope this proves to be untrue, now down about 15%, should i keep my chin up???

This is annoying!! Some of my stop losses were hit. I still hold quite a lot though! Fingers crossed.

Ignore this week, just a play, March holds 3X final production flow rates news and also end of March is the start of the sidetrack on 1X.

1X should produce more than 3X, so keep a close eye on 3X flow rates, and expect plenty more from 1X :)

I had to close my EME bets at 1.35. Still made a few grand profit overall. Can't complain.

I just could not jeopardise closing any of my holdings in TMC, VOG and TAG.
TAG looks like its waking up finally. As is TMC.

Has the seller finished now? Whats your view on this rise Papal?

Not sure, but its just been weakness of the time of year this week so far, as it has been on a number of stocks this week.

I tried to get some more late, but now only at 59p and I wanted under that for a lump.

Interesting post by strow at AFN, apparently they have not required to perforate 3X in more than 1 pay zone area (3X has 3 pay zones), so that bodes well.

.

Couple of posts in answer to a question on AFN, so copied here for info :


strow - 12 Mar'06 - 11:31 - 400 of 403
papal-re 1x etc-if this previously flowed at good rates why on earth was it abandonned ?any idea who previously was operating these wells on the la casas structure and why they shut up shop ?


PapalPower - 12 Mar'06 - 13:35 - 401 of 403
strow, some of the previous links have now become not useable, but 1X and 2X were flow tested at around 1500 and 2500bopd, so old historic data says. At the time people were doing a lot of exploration wells, and with oil being dirt cheap, it was not economical to extract given the political instability in South Amercia and of course Guatemala of the time.

Here is one link :

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

" AUGUST 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."


PapalPower - 12 Mar'06 - 13:41 - 402 of 403
Now, the sidetrack was never done on 2X, and we know that the well was not possible to workover by TAG.

The original 1X well is damaged due to improper casing. What TAG have seen so far impresses them, and a sidetrack will be done on 1X, using latest seismic data (from last couple of weeks as its just been re done) and the sidetrack will target a new lower bottom point, therefore increasing the pay zome depth, to give us not only decent flow rates, but also larger recoverable reserve quantities.

1X sidetrack due to start approx end of this month.

now 20% down and fear setting in especially after get caught up in the PET fiasco. common sense says, top up with stock and make an easy 20% (or however much it may fall by)

For those who do not know what March holds, here is a short and sharp summary from Chef after my comment of March sometimes being a horrible month for some shares. With a lack of buying volume, MM's can take out S/B positions with a nasty low bid. :


Chef - 14 Mar'06 - 15:20 -

Second that Papal.

Tax selling
CFD closing/rolls
Spreadbet closing/rolls
Triple witching on options expiry

All gets messy.

TAG just dropped heavily whats haapening?

hi PP, i do hope you have it right, go fully with your judgements, thats why im staying in. But must admit following a another drop this morning fear is bound to set in. I lost a lot of money on PET following number of brilliant positive posts. It is as never hit the heights everyone was expecting. Hope you agree the obvious thing to do is top up and make dead easy 29% (drop so far). Really look foward to coming back and thanking you for helping to keep me in. ps fully accept it is my decision to buy tag as it should be with everyone.

Why is TAG down again...maybe...just maybe it is an opportunity to buy....anybody any ideas?

No real reason for the drop I can see. They did not seem to want on line buyers at the bottom of the drop either.

Could be just a stop loss shake ahead of news next week, we know news is coming, I am very happy to hold on, no stop loss and real shares, this time December this price will be a distant memory I think.

I will add some more, just waiting at the moment :) Being greedy in case they shake it a little lower before resuming up.

I have to admit i`m amazed at just how far this has dropped given news is just around the corner.
I`m fully invested in this so i won`t be adding but i`m definately not selling!!

On the rise now (L2 3 v 1)

A post from strow, and I know its correct as I checked too ;)


strow - 15 Mar'06 - 10:12 - 550 of 553

good stuff-just spoke to company-nothings changed everything going as expected-news from what i can gather may not be out before month end although the guy i spoke to did not overtly say this-must be good as far as i can see-they hope to keep news coming this year as got very frustrated last year with inability to give regular news flow-wish id remembered the guys name but he gave me 20-25 mins of his time -v.helpful nil price sensitive and apparently they are looking into the berlin exchange-they are not happy at drop in price for no reason either !

what does this mean ??
http://moneyam.uk-wire.com/cgi-bin/articles/200603151127588336Z.html
is that the irish stock exchange only??????

No idea kivver, Irish only.

L2 up, 3 v 2 now.


Another post from strow, that I can confirm as I have the same info from other sources :


strow - 15 Mar'06 - 11:36 - 561 of 567

PAPAL-just got back-no there was no real reason given but then again he did not say overtly that there would be no news before end of month-was mentioned though that they want to get as much data from 3x as they can-it apparently still is on target to be a commercially producing well but it keeps being emphasised to me both when i spoke to mr gay and the guy i spoke to this morning(dont think he was just p/r-seemed to know an awful lot)that this is a long term flow test-so im left not really knowing.seismic interpretation was mentioned as well as reserve estimates so it is clear that all this will take some time but they are keen to get info out as soon as they feel it is comprehensive-all seems bandg on track and they are hoping to begin 1x as soon as possible given full interpretation of data from 3x.asked again re perforation of payzones-at the moment they feel no need to perforate the other two and in answer to my question "presumably as the original 100 bopd was calculated on swabbing only,you will be hoping for a good deal better than this for final flow rates after acid work/pump etc" the answer was "yes"

I'm holding onto mine, situation hasn't changed.

Exactly Technotamed, for me its improved as not only is the long term flow test coming to an end (you do not do a long term test on a non producing well) but also we can be sure that presently siesmic on Las Casas is on going, and when the news release comes its going to give us a lot of detals about Las Casas reserves in general, as well as 3X.

If interpretation of the seismic means we have to wait a couple of extra weeks in April for news, then its fine by me. All is going well, and from the communications had with TAG management, they are surprised and have no idea why there is this present short term weakness in the SP.

L2 just up to 3 v 1, maybe they are not getting any more sells now, so its time to move it up a bit ? ;)

It's a shame my cash is all tied up as I would have topped up.

We might have to wait for mid-April for the full operations update, including 3X, but that is not a problem, just they want to get the reserves figures upgraded after the seismic presently going on at Las Casas.

L2 is 4 v 1

Early signs of strength returning now, keep a watch for a rise starting, I hope there is one soon after the boys jumped on board at 50p ;)

im sorry for being really thick but what does this mean,

http://moneyam.uk-wire.com/cgi-bin/articles/200603081515225057Z.html

it says it has over 2 million shares so therefore has no notifiable interest in the company!!!

If you buy sufficient shares to take you over the 3% holding you have to declare you holding to the market and equally if you sell shares and as a result you go below 3% you have to say you no longer have a disclosable interest. They can now sell the rest of their holding and don't need to tell anyone. The idea is to stop people building up a stake secretively.

cheers, thats excellent, thanks very much.

Good news today, a a vote of confidence, the company doing the seismic offered to take part payment in shares at 55p, and to think we can still buy in today at less that that :)

Nice post from regalrealm, which sums it up :)


regalrealm114 - 20 Mar'06 - 20:27 - 678 of 680

orvis/gen2- this email is from Nicholas Gay to me at 18:35 today this should clarify the share issue wrights in todays RNS,

RNS Number:0765A
Taghmen Energy PLC
20 March 2006

Thank you for your email. The shares were issued in relation to 6-93 and specifically to a company that is currently carrying out a seismic programme on that licence. The contractor, TerraSeis, offered to take a portion of the cost of the seismic programme in shares. as such they were providing the Company with a vote of support.

We have not therefore "paid out fees for a cancelled licence". I am curious as to why you thought we had.

Regards

Nicholas Gay

I had made a mistake in my earlier post and do apologise, nevertheless this is a positive sign to say that Terra Seis a very happy to take shares in part payment for the work they had carried out on behalf of Taghmen Energy.
If the seismic data did not show positive results I am sure Terra Seis would have taken payment in $$$$$$$$$
Regards E.

A blue day, shock and horror ;)

Maybe we've turned the corner at last, ever patient and waiting is the game!

100K buy at 51.25 this morning firmed everything up.

Has to be a large player buy, to get the slack at below mid price, a very good sign and aother vote of confidence, now we should be able to build from this stage now.

A bit more blue today :) Is this the start of a rise, a good and decent one into some news in a few weeks time ?

Certainly looking much healthier, just got to keep a watch on for further strengthening and movements from here.

Will post what L2 is looking like as I have some free time later today I hope :)

PP,

Why should the exercise of share options cause selling??, just because 1m shares will admitted to the AIM 31 Mar 06, doesn't mean Taghmen Ventures (Gregory Smith) will be selling, does it? A small amount of dilution, but that will always be the case with share incentive schemes. ????????

Its not causing sells, in fact its a good sign. This fall is simply due to tax year end and some people crazily selling at 44p, 46p, 48p..........

Wait a few weeks and see what the price is then..........a good time to buy and add more I think at prices below what Artemis and others paid to get in.

Papal are you confident your estimates made in post 37 about what the BOPD will be come the end of year still stand up?

DB66, edited the timescale until mid 07 :) Then happy now based on final drills being in Q4 this year, so no chance of wells commercially complete until Q1, early Q2 07 for the final drills from the work plan.

Must have been blue for a bit today then :)

Sub 50p to buy for those quick.

Confirmation there of shorters, with a 30K short rollover.

Want to make them hurt, then buy away ;)

It is a rollover short, as before it you had to buy above 50p and now you can buy under 50p as the short is rolled over.

This answers all your questions and all your negative posters, set up and well executed short selling, to be followed in April by a sharp move up when they not only cover but also go long.

Well played to them, and everyone adding at these prices can say thanks for the cheap entry point too :) is my opinion.

Very interesting today that the on line sell limit is moved up a lot and the buy limit reduced a lot, should mean a decent size buy order in the background now.

I think that the strength will slowely come back in now, possibly still weak next week, but after that then no.

The full operations update is coming very soon, and I am expecting it to be rosy in terms of 3X ;) The "bee's knees" ? ;)

Can't wait to get into the next financial year, hopefully then things will start to pick up looking forward to a pros' new year.

Should be Technotamed, new tax year starts on Thursday, I will be adding more TAG Tue or Wed, and then we just await the operations update.

Going to be a strong Q2,3,4 of 2006 for TAG, thats my opinion, and you can quote me on that later, going to be lots of newsflow and lots of things going on.

Apart from 3X being commercial, the next big thing and due to start any time soon is the sidetrack of 1X. Well 1X is very exciting, in the past it has flowed at up to 2500bopd, and what comes from it after the sidetrack could be a very big boost to TAG at the half year. Sidetrack will take around 45 days, and starting any time soon.

TAG is fully funded with cash in the bank to pay for the whole programme, got an exciting plan of drills of workovers for 2006, got 2 new licenses in Colombia to explore in 2007, will have X generating revenues, and soon to be joined by 1X creating revenue, so they then have cash flow coming in. The underlying business is very very strong in my opinion, something that is not reflected in the SP, so its roll on operations update, and then see where we go :)

Added the following to the header, as a reminder of the potential of 1X, the original well was not made into a production well due to politics at the time, that situation is cleared now, and the well will be sidetracked in the weeks ahead, and could provide some very nice news. Sidetrack will be done by Rolln , who also drilled 3X, so no worries on their capability to do a decent drill, they also have the recent experience of drilling 3X to ensure the sidetrack on 1X will yield best results.


A taste of things to come ? 1X is to be sidetracked as the next drill April/May 06 :

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

"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."

.

the other article is off line now (the link below, I think removed at the request of TAG, article from 1998 or 1999), but the full text is in my post of June 2005 as below. Apart from the LC 1X flow rates and details of 1X, it goes on to deal with the Huapec area (which will be TAG Huapec 2X drill and due in H2 2006). There are strong oil shows in the Coban D with a 530 foot interval (161 metres) and that my friends is why the Huapec structure offers very good potential.


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.

As can be seen from the above articles, 1X could offer some serious flow rates. (1X sidetrack starting very soon too and will take approx 45 days to complete)

Huapec 2X to be drilled in H2 could also offer some big things.

All this with a full operations update due this month, including our first looks at what 3X has been doing in terms of production levels.

Should be a strong month on TAG, in fact should be strong all the way now, for the rest of 06 once we get this end of year tax selling through, which will be this week :)

All in all fine, no problems, just a little slow.

Still keeping 3X under wraps, just saying during swabbing it rose to 150bopd on the one zone thats been perforated. Second zone is 44 feet after the first zone of 31 feet. By the looks of this they have bowed to pressure, and are now going to be keeping us more updated with better news flow :)

Seismic sounds good, very encouraging and also shows, no bad news. Pressure results should come soon, so plenty more news to come.

1X from 1st May so TD news around the 15th of June.


Taghmen Energy PLC 03 April 2006 TAGHMEN ENERGY Plc
www.taghmenenergy.com
GUATEMALA OPERATIONS UPDATE, MARCH 2006

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


Well 3X
Work continues on Well 3X under the planned long term production test. A 31
feet thick zone was perforated in November 2005 and, as reported, initially
flowed at a calculated rate of 100 barrels of oil per day ('bopd') under
swabbing operations, rising during this phase of the test to 150 bopd. In
January, a down hole pump was installed and the well was tested at various
production rates. The well was shut in for a pressure build-up test in late
February. Pressure recorders will be pulled within the next few days. Under the planned test programme, the second of the three prospective zones in Well 3X will be perforated. The perforations will cover 44 feet of pay over a gross
interval of 167 feet.

Extended testing of each zone is necessary to allow for the collection of
reservoir data and for the assessment of possible damage that may have been
caused whilst drilling the well.

Seismic Acquisition
The planned acquisition of 2D seismic over Las Casas, Huapac and Yaxa areas of
Contract 6-93 is proceeding on schedule with all lines covering the Las Casas
Field having already been recorded and sent for processing. Initial indications
are that the data being collected is generally of very high quality. Line
clearance and survey operations have been completed over Yaxa and are expected
to be finished over Huapac by early April. It is expected that the seismic
acquisition on Contract 6-93 will be completed by mid April at which time the
seismic crews will immediately move on to Licence 7-2005 (Tortugas/Atzam) and
commence both 2D and 3D seismic operations there.


Well 1XA Sidetrack
The drilling of the side track to well 1X (well 1Xa) is expected to commence on
1st May following the interpretation of the Las Casas seismic to determine the
optimal bottom hole location. It is expected that drilling of the sidetrack will take approximately 40 days to complete.


Licence 7-2005 (Tortugas/Atzam)
The Environmental impact study has been submitted for approval and clearance to
commence operations on Contract A7-2005 is expected shortly.


Work has already begun on fabricating workshops, offices and accommodation units which will be transported to the Tortugas area as soon as the approval to
commence operations is received. These units will provide a base from which to
undertake the work-over of 3 existing wells from which there has been proven
production in the past.


Review of Release
This release has been reviewed by the Company's Chief Operating Officer (Mr. J.
Scott), Geologist (Mr. K. Dean who is a Fellow of the Geological Society,
London) and its consultant Reservoir Engineer (Griffin Petroleum Consulting
Ltd.).

Messrs Scott's and Dean's biographies are on the Company's website, which can be found at www.taghmenenergy.com . Griffin Petroleum Consulting Ltd are a firm of Chartered Engineers.

PP,

should we have any concern about the following statement referring to possible damage or do you think this is routine??

'Extended testing of each zone is necessary to allow for the collection of
reservoir data and for the assessment of possible damage that may have been
caused whilst drilling the well.'

SM, no concerns for me. They need to do the testing to firm up the reservoir data, and at the same time can check if the balanced drilling approach damaged whilst going on. They need this drill data to finalise the exact method and approach to use on 1X sidetrack, which starts on the 1st of May and will complete TD mid June.

The biggest thumbs up for me is the seismic crew, they have been on site, seen whats happening, listened to what is going on, and recently requested TAG to pay for the seismic work in TAG shares at 55p instead of cash.

Now that is one big vote of confidence.

Someone picked up 40K at 49p at 10:01, nice buy. Its showing in the sell column due to 1 hour delay, MM's marked up the price to 49p bid as it was reported and then dropped back to 48p, rather than show a mid price trade.....why is that ? ;)

PP, thanks for reminding me about the seismic group share payment. I think this is going to go from strength to strength. No idea about MM's strategy sometimes, drop price to encourage buying to sell MM holdings or will this deter buyers. Based upon the encouraging news today, suggest they are trying to encourage more buyers, but WDIK!

On balance I would now say I am more happy than I was yesterday (as no RNS to read or confirm) and will steadily accumulate more over the period from now to mid-June (next 10 weeks) (1X sidetrack reaching TD date).

Given the progress on 3X and my hope that now they will keep us more updated on progress as it happens, I would guesstimate that testing pay zone 2 and then pay zone 3 will lead to a final commercial flowing well at around late June/early July (eg no more testing required and it can be let to run and produce then). The detailed testing of each zone is slowing it down, but its for the best.

I will request, and anyone contacting Nick or Geoff should too, that we are updated with the results of each pay zone as its available, as this is price sensitive information now, we need to know from each zone what the pumpable rates are for the final figure of PZ1+PZ2+PZ3. I hope they will oblige that.

50K buy at 50p earlier, there has been a string of large buys at around the 50p level, not constant but they come from time to time, someone is quite happy to pick up big lumps, but clever enough not to make the price rise by doing so, so they can keep picking up more :)

For the chartists there is this to share from DevonLad, all double dutch to me, but sounds positive :)


Devonlad - 4 Apr'06 - 11:56 - 1117 of 1118

The charts are strongly supporting a buy in TAG as it stands. I bought in this morning so I'm putting my money where my mouth is. The MACD is just about to turn positive from negative, generally a very strong buy indicator and my personal favourite. The SP moved up inside the lower bollinger yesterday indicating support from the lower bollinger and is now heading for the 20 day SMA and the daily slow stochastic has turned positive. The target price at the moment in the short term is the upper bollinger at 58p although a positive movement soon with a constant standard deviation would improve this to 64p, not a time to sell! All imho of course and the same pattern is just about to happen at JKX as well FYI.

100K buy at 49p, no price movement.

Either a short closing or an insti buy of weak holders sales :) Was not an "X" but the mid price makes an insti buy possible.

A couple of posts I made to strow, for info, and I could be completely wrong so its just my opinions :


PapalPower - 5 Apr'06 - 02:02 - 1148 of 1151
strow, from what I can see the only problem is that its taking longer than we all hoped for.
When a well, oil or gas, has multiple pay zones, all the zones need to be tested and then finally an aggregate figure is released for which the well will be put into production at.
Until you test all three zones, you cannot have an aggregate figure. Now PayZone 1 is on pressure test, and it must have successful pressure test results in order to validate the pump tests (and so until the pressure results are ok, the data for pump flow rates is not valid, and cannot be stated even if they wanted to). The good thing was that flow rates rose during swabbing, always a good sign as it starts to clean up after drilling.
Why is testing slow ? I do not know and will ask that question. I would suspect its the use of local labour where expats could be 10 times as quick. As part of the Guatemalan governments concession, they are very keen to be PC, and so require that time and money be spent training locals and that the local workforce must be of a certain %. This obviously effects progress until they become trained, although long term its a benefit as in 1 or 2 years time these people will be fully trained, up to speed and of course, low cost overhead workers, a case of what you lose in time now, you gain in money later.
Ignoring short term news (like 1X drill starting, 1X at TD, initial logs from 1X, some indications over the coming weeks on PZ results from 3X etc...) the big news will obviously be the July ops update, as you can expect that this will be the one where Las Casas is declared a commercial field, but do not ignore the potential for short term news, they could, if they wish, and its good, declare results for PZ1 on 3X after pressure results, as a sign of initial of good progress, before they go on to complete testing on PZ2 and PZ3 of 3X, and then again they might not.
This was my take on the recent ops update, all is going to plan, the underlying plan and business is good, just progress is slow.
Rather than wait for an email, you can call Nick, his number is freely available. My take is that progress is slow owing to labour and contractor problems, in terms of training the labour, and finding decent contractors to do auxillary work. All part of the Guatemela/South America learning curve, and I will be a little un-PC here, is South America known for its dynamic never resting super charged workforce............generally not :)
But, now that they have done one well, the locals will now have more experience, and this will all help to speed up future wells and progress, no pain no gain.
At least we now know for 3X PayZone1 is 31 feet, and soon to be perforated and tested PayZone 2 is 44 feet (but do not know on PayZone3 as yet). Not worried, being patient.
A difference here may be I have all paid up shares in TAG, no spreadbets, so as a share certificate holder, it matters not to me any delays, waiting a bit longer, a swing down, bounce up, whatever.....I am holding for the long term.

strow - 5 Apr'06 - 06:58 - 1150 of 1151
PAPAL-thanks for reply-seems fair and obviously your knowledge re oandg ops enables less anxiety-i do feel more reassured now-still feel the least they could have said given that the rns was probably more to keep us pis happy was that they still expect 3x to be commercial-why not state that again as in previous rns -it almost left me with more questions than answers rather defeating the point of it i think

PapalPower - 5 Apr'06 - 07:25 - 1151 of 1151
strow, they cannot say "its commercial" until all three pay zones are tested, for flow rates and pressure. We may get 2 out of 3 good for commercial, it might be 1 out of 3, it might be 3 out of 3 and it might be 0 out of 3.
Therefore, as you see, nothing can be said, until concrete proven tests are done.
BUT, as I said earlier, the on site engineers for the seismic, must have fed back decent info to their company, for ther company to want to get paid 50% in TAG shares at 55p (its a very positive sign in my opinion !!! )
At this stage I would suggest anyone buying to get hold of shares and not spreadbet, it makes for a much easier and less stressful life in my opinion :)

Your putting up a great fight PP, but the market aint listening. Im going to stay in (30% down) but anyone would start to worry watching their pot disappear rapidly

I am relaxed kivver. If the market just wants oil and is not looking at the underying business, then so be it until 3X is deemed commercial. When you look at the plans in place in detail, its more of a buy now than before.

Happily adding little bits here and there :)

No significant sells, so topped up today. Happy to hold.

Very unnerving chart. I got stopped out back at 53p but now I'm glad I actually stuck to those stop losses or I would have lost an even bigger fortune!

Papal - Your timing has been completely misjudged on this one.

I guess the fundamentals seem to be ok for long termers. I'm just going to stick with VOG and TMC for now.

Aerotus, we will have to see what happens in the coming weeks. Nick Gay in Colombia this week.

My word, its gone blue......what is happening ? ;)

This is the reason I expect a further news update next week, 45 days is today, and Nick has been in Colombia this week, so it would make sense to update the market next week........the question is, will they throw in some more 3X news ??? ;)

This is of course if we get the update next week, could be a little later, who knows.....not me :)


http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=624505

Taghmen bags additional Colombia licence Mon 20 Feb 2006

TAG - Taghmen Energy

LONDON (SHARECAST) - Oil and gas explorer Taghmen Energy posted gains on news it has agreed terms that will lead it to acquire an interest in an additional licence in the Middle Magdalena Valley, Colombia.
Under the terms of its arrangement, the Latin America-focused group, which listed on AIM in January last year, will ultimately acquire a 65% interest in the licence but will not be operator.
Taghmen said it has identified several leads that could contain potential reserves of approximately 20m barrels, or 13m net to the company.
The initial work programme covers a four year time frame with approximately $1m to be borne by Taghmen in the first year related to a new 2D seismic shoot, together with the reprocessing of existing data.
The deal is expected to close within the next 45 days and is dependent on the 'Midas' licence, estimated to have the potential for recoverable reserves of up to 90m barrels, being successfully issued., /b>
Chief executive Nicholas Gay said, Upon successful completion of this transaction, our Colombian interests will have the potential to add nearly 80m barrels, net to Taghmen, to our existing Guatemalan potential reserve base of approximately 45m barrels.
The attractive new licence terms and tremendous hydrocarbons potential of Colombia made it an obvious choice for the expansion of our Latin American asset base.

A bit of a summary on the present reserovir pressure tests and where we are :

Well 3X is the first new drill in Guatemala from many years, and its TAG's first well. They are to drill 5 more times in 2006 commencing with 1X sidetrack on the 1st of May, therefore all the data they can get from 3X ahead of the next drills will be beneficial to ensuring the best possible results.

As from the RNS, 3X has only 1 of 3 Pay Zones (PZ) perforated at present, this has been production flow tested at various rates in January/Feb and has since been shut in for long term reservoir pressure testing. This is a necessary part of the process in obtaining new up to date information on Las Casas which will be beneficial to TAG not only on the 6-93 area but on the A7-2005 area as well. Once TAG have the knowledge from the ongoing and extensive testing of 3X, it bodes well for the future, once reservoir characteristics are known I am confident still that we will have a commcercial well, and the target for me remains 500bopd as an aggregate figure for good results, but anything over 250bopd would still be good.

Production wells are regularly shut in for shorter intervals for reservoir pressure checks, but for new wells a month of testing is ideal for initial results on a new structure.

************

"Reservoir Pressures

Reservoir pressure data are most useful to the petroleum engineer in analyzing well and reservoir performance. The exceptionally low permeability of the Richfield pay sections is evident immediately when wells are shut-in and allowed to build up to full static reservoir pressure. A very long shut-in period is required to attain static pressure even on relatively new wells showing higher initial pressure in the more permeable sections of the fields. Individual wells have reached near static pressure in 200 - 250 hours or from nine to ten days. One well was shut-in for five months and continued to build up pressure at the rate of approximately 100 pounds per month. Loss of revenue resulting from long shut-in periods has limited obtaining data on shut-in pressures to key wells and to shorter build-up periods of 100 - 110 hours. A program of 20-hour shut-in pressure surveys at six month intervals recently was adopted in several fields. It is hoped that these surveys will show reservoir performance as well as indicate actual day to day operating bottom hole pressures. The history of the 20-hour pressure surveys will become more valuable with each additional survey. These surveys permit the operator to follow normal flow schedules and do not entail the loss of revenue associated with longer pressure build-up periods."

*******************

Reservoir Pressure

In a typical subsurface reservoir, there is one pressure on the fluid in the sand and another pressure on the sand itself. The pressure on the sand is generated by the weight of overlying burden. The deeper the reservoir, the greater the pressure. The fluid pressure increase with depth is the hydrostatic pressure gradient and is expressed in kpa [kilopascals]. It is also influenced by the density of the overlying fluid, usually water. Water density is controlled primarily by its salinity. Hydrostatic gradients range from a low of [we need metric equivalents for the following] 43.3 psi per 100 feet for fresh water to values as high as 52 psi per 100 feet for saline brines. The average is 45 psi per 100 feet (55 ppt salinity). Hydrostatic pressure on a fluid in the pores of a subsurface reservoir can be calculated by multiplying the depth of the reservoir from the surface times the hydrostatic gradient. This assumes that the water table is approximately at the surface. The depth of heavy oil wells in the Lloydminster area ranges from 350 to 800 meters.

Reservoir, fluid, and formation pressures are the pressures on the fluid in the pore spaces of the reservoir. Under normal conditions, it is hydrostatic pressure. Bottom hole pressure is the pressure on the fluids at the bottom of the well after the well has been left to come into hydrostatic equilibrium with fluids in the surrounding reservoir. Bottom hole and formation pressures are usually the same. Reservoir pressure before any production is original or virgin pressure. As fluids are produced, reservoir pressure decreases. Flowing or bottom hole flowing pressure is the pressure on the bottom of the well measured as the well is producing. When the well is shut in, the pressure will build back up to a maximum called the static bottom hole, shut in, or static formation pressure. This pressure will never be as high as the original pressure because fluids have been removed from the reservoir. Differential pressure is the difference between flowing and static pressure in a well. Casing or surface pressure is the pressure on the casing at the top of the well after the well has been shut in and the pressure allowed to build up. Tubing pressure is the pressure on the tubing at the top of the well.
Pressure in a well can be determined by a self-recording instrument, called a pressure bomb, that is lowered down the well. In a producing well, the pressure bomb can be lowered into the tubing adjacent to the reservoir. Shut in pressures can be calculated by measuring casing pressures. If the well is filled with water, the height to which the water rises (static water level) can be used to calculate reservoir pressure.
Pressure on the rock is generated by the weight of the overlying sediments. The deeper the reservoir, the more pressure (overburden pressure) on the rocks. The increase in rock pressure with depth is called the lithostatic, geostatic, or overburden pressure gradient. It is expressed in psi per 100 feet of depth. An average lithostatic pressure gradient for a sedimentary rock basin is 100 psi per 100 feet. The pressure on a subsurface rock is calculated by multiplying the depth from the surface to the rock times 100 psi per 100 feet.
The higher the pressures on oil, the more gas can be dissolved in the oil. Viscosity of the oil is reduced with higher concentrations of dissolved gas. The deeper the oil reservoir, the hotter the oil, and the more gas it can have dissolved. Both these factors reduce the viscosity of the oil and allow it to flow through the reservoir rocks more readily.

A question and my answer, for reference, but DYOR !


strow - 8 Apr'06 - 07:30 - 1242 of 1244
PAPAL-thanks for that-when it comes to 1x sidetrack do you think tag will spend as long testing etc that they have done with 3x ?if we had the same delay then it would be year end before we knew results of flows from 1x !
nick must know that he needs something to underpin the shareprice and i cant believe he is not bothered.
from rns pressure recorders will now have been pulled so is there now anything preventing them from giving us some flow rates if they wanted to ?
will you be calling nick this coming week ?i have e-mailed him again so hope to get some response soon


PapalPower - 8 Apr'06 - 11:56 - 1244 of 1244
strow, they, in my opinion, only need to do this for well 3X, and potentially only for PZ1. Once they have the characteristics of the pressure of the reservoir over time, they can confirm by shorter tests and other methods that other area's have the same characteristics. This is why 3X is so important to the whole campaign in terms of data collection. It the first well for TAG, first on Las Casas for decades, and the first with the ability and equipement and methods to do some very serious data collection on. The results of this well and 1X could have some very serious future upside for not only TAG but for Guatemala as a country !

I would envisage no such delays in future, in fact 1X sidetrack being a success it could actually be into production in the summer.

As such it must be remembered that 3X is a "discovery" well, this means it is to discover oil and to data collect. TAG were not drilling a "production" well. Now this does not mean a discovery cannot be a production well, of course it can and in 3X case it should be. Production wells are drilled after discovery and confirmation when a field has multiple wells, you simply drill down into the pay zone with correct spacing between wells, all the characteristics are known from the original "discovery" well and testing. The comparisons between well 104 for VOG and well 3X are that they are both "discovery" wells, which could be production, but with the initial drill you must spend a considerable amount of time on data collection, as TAG and as VOG are doing.

The trouble with flow rates for now, are that its simply from a single pay zone, and there are three and they must all be checked and then aggregated for a final flow rate.

They could of course give us some estimates on PZ1 production rate, and then say they still have to test the other 2 and then aggregate the 3 for a final figure, that would be nice, and hopefully that is what will happen, but you cannot be sure, they may just wait for a final figure.

Nick has been in Colombia and will be contactable this coming week. The management of TAG are concerned and surprised over the price action I feel, and they should have by now acknowledged the need for more frequent updates as, and here is a generalisation, AIM investors are fickle creatures who are used to "piss poor" management type companies, and cannot handle surely a good set of management, and think there is something wrong when they are quietly confident. They need to be loudly confident ;) :)

For all our negative poster feelings, the simple fact of the recent fund raising and events after should be enough to satisfy, but sadly, more is required, and lets hope more is now delivered in terms of frequent updates, and Nick and Co can now be loudly confident, and no longer quietly confident :)

Taghmen Energy PLC at the COPIC conference April 27th 2006 @ 12:00

http://www.newswire.ca/en/webcast/pages/en/copic20060426/

About the COPIC conferences
Since 1982, a series of 69 COPIC investor conferences have been organized by Rapport and sponsored by the presenting corporations. This is the 25th annual COPIC Producers spring conference for Canadian crude oil and natural gas exploration and production companies.

Investment research analysts and coordinators, institutional investor, portfolio managers, selected stockbrokers, investment and corporate bankers are invited to attend free of charge.

Interesting few lines from a reserach report (non-TAG), I do like the line about "other companies geological info" say like drill logs from 3X and initial reservoir tests ???........?? and the "indicates significant reserve potential"

Time will reveal all as the weeks and months go by :) whichever way it is ;)

L2 up and strong now, might see some blue days ahead.

Taghmen Energy PLC TAG New Licences Contract
2006-04-12 02:01 (New York)

RNS Number:4048B
Taghmen Energy PLC
12 April 2006


TAGHMEN ENERGY Plc

Contract for New Licences Signed in Colombia

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 the contract
for the Midas licence was signed at the offices of the Colombian National
Hydrocarbons Agency (ANH) on Wednesday 5th April 2006. The award of the licence
was announced in a press release on 15th February 2006.

At the same time Taghmen entered into an agreement to acquire an indirect 65%
interest in a second licence in Colombia that was awarded on the same day and
was the subject of a press release on 20 February 2006.

Summary of Licences

The licences in which Taghmen has obtained an interest are known as "Midas" and
"La Paloma" and are situated in the Middle Magdalena Valley Basin in Colombia
and are adjacent to producing fields.

Taghmen is the operator of the Midas licence and holds a 70% interest. It is
planned to shoot and reprocess approximately $1.5 million of 2D seismic late in
2006. Several leads have been identified which provide the potential for
recoverable reserves of up to 90 million barrels (63 million net to the
Company). The initial work programme for Midas covers a six year time frame. It
is possible to relinquish a portion of the contract area at the end of each
year.

Taghmen will not operate the La Paloma block and will derive its interest from a
shareholding in one of the joint venture participants. The Company has
identified several leads that could contain potential reserves of 20 million
barrels (13 million net to the Company). The initial work programme covers a
four year time frame with approximately $1 million in the first year related to
new 2D seismic acquisition and reprocessing of existing data.

The licences will be governed by a newly updated ANH contract, which eliminates
the Colombian Government's right of "back in" and reduces the level of taxation
from that which previously existed.

Nicholas Gay, CEO of Taghmen Energy Plc commented:

"We are pleased the licences have been signed and that we have now established a presence in Colombia with the potential to add up to 76 million barrels net to Taghmen"

Good news it was, and now the price is firmed up.

All looks good so far, 1X sidetrack starts soon. Given then need to do thorough and complete testing for data collection on all three of the 3X payzones, its going to be another couple of months before final news there, so given 1X will be at TD mid June, should be pleny of news from mid-June into a July operations update (but hopefully something more in the meantime;) )

Been looking into the Tortugas/Atzam structure A7-2005 but cannot find out who drilled the original wells....its must be the 1960's or 1970's, but does anyone know who did the original drilling ? TAG will work over three wells, 2 are listed in the article below (Atzam-2 and Tortugas 4 and they will also workover Tortugas 5).

"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."

Couple of my posts from AFN, which after reading all the latest info on A7-2005 and Las Casas, throw a lot of light on to the future potential of TAG :


PapalPower - 16 Apr'06 - 08:09 - 1388 of 1389

Hi strow.

1000 MSTBO means 1000 (thousand) = 1MMSTBO or 1 Million ST Barrels

1MSTBO = 1 Thousand
1000 MSTBO = 1 Million = 1 MMSTBO


Simon should still be long, if you start to analyse the present goings on and information it becomes very very attractive in my opinion.


Firstly, oil is proven and the structures proven to flow and reservoirs are now starting to be confirmed. This means that we are now getting changes with introduction of P10 and P50 and P90 figures (which correlate to potential, probable and proven). The more data they collect they more they can move from potential into the better for us "probable" and "proven" categories.

Secondly, 3X on PZ 1 is flowing, as per the RNS its swab rate was up to 150 bopd. A small workover to address "skin" problems should correlate to a final figure of around 20,000 barrels per month.

This is exciting when you put figures in :

Conservative Sales Price = 45$ per barrel.
Estimated Field Overhead per barrel = 2$
Ignore corporate overhead and work on pure cash generation :

3X = 20,000 barrels per month est. = 20,000 x 43$ = 860K US$ per month or 10.3M US$ annually.

Wells 3X, and Tortugas 63-4 and 63-5 and Atzam 02 should be able to produce at 20,000 BOPM = 4 x 20K = 80,000 BOPM = 3.44M US$ per month cash generation.

New wells 1X, Huapec 2X and 3 new Tortugas wells to be drilled should flow at much higher rates, but lets just be conservative and say 30,000 barrels per month = 5 x 30K = 150,000 BOPM = 6.45M US$ per month cash generation.

Therefore, by early 2007 cash generation of 118M US$ annually is possible and very likely from just the existing work plan. Take off the government cut, and you see TAG is self funding going forward for Colombia, more work in Guatemala and whatever else.

The proving of oil bearing structures and data they are now collecting makes things look very exciting over the rest of this year and next year. And the figures I have used are conservative in terms of sales price and conservative in terms of flow rates. Now you can why Nick Gay is surprised at the SP fall, and why the insti's got in at 55p per share.

All is in my opinion so please dyor.


PapalPower - 16 Apr'06 - 08:14 - 1389 of 1389

People are overlooking the simple fact that Tortugas is a proven production field in the past, shut down due to the civil war, and never opened again, and its easy money to be made starting it up again, this is why the funds were raised and as soon as they were at the recent placing work has started on getting infrastructure in place at Tortugas/Atzam. They can continue the work at Las Casas making it into a commercial field, but also of priority is restarting the Tortugas field, as its a nice little earner !!

License A7-2005 (Tortugas/Atzam) awarded and signed, fund raising, start work on getting Tortugas back into production.

Add in the other ones, your making loads of money by the year end.

If we go more conservative and say :

3X/T4/T5/A2 @ 10,000 BOPM = 1.72M US$ per month or 20.64M US$ per year

NT1/NT2/NT3/1X/H2 at 15,000 BOPM = 3.225M US$ per month or 38.7M US$ per year

Total annual from present workplan = 59.34M US$

(This equates to 3X and the others at 333bopd and NT1 and the others at 500bopd)

So even at these very low and very achievable rates, the present workplan will generate 59.34M US$ per year for TAG before government cut and corporate costs) Not bad at all for start of 2007 :)

All in my opinion of course.

(Remembering :

Licence Fiscal Regime

Production sharing agreement

Royalty based on API of crude, with the better the
crude the higher the royalty rate
Las Casas crude is expected to pay royalty at 27 to
28%
Profit share depends on rate of production
Maximum Company share = 60% for production
below 15,000 bopd and minimum Company share
is 25% for production over 75,000 bopd


Cost Recovery

Cost recovery statements required to be
approved
Only costs related to the defined zone of
commercial production are allowed
Once allowed, approved cost recovery is
fully deductible in period approved)

From the Sunday Telegraph (16th April 2006) :

TAGHMEN Energy.Aim listed oil and gas company focused in Latin America is in talks to buy a Columbian explorer , Petroles del Norte.

The acquisition - for an esimated 18.2 m will provide Taghmen with its first production. Petroleus operates three fields in Columbia that produce 1,000 boopd . The Columbian company has three further exploration licences and owns and operates a pipieline that generated $1m in tariff income last year.

Deal will be funded by a mixture of debt and equity.

Web Site : http://www.petronorte.com/PDN%20English/index_english.html

Some good research as i`ve come to expect from you Papal , it all looks very good on the news front even if the SP doesn`t reflect this at the moment.

DB66, I was lucky enough to read through all the Las Casas, Huapec, Tortugas and Atzam info over the weekend, and I mean everything ;) I am much more relaxed now going forward. I will copy over a couple of posts and put them on here.

PapalPower - 16 Apr'06 - 13:03 - 1411 of 1430

64bit, thanks and it does look good for Tortugas and Atzam I must say.

Las Casas is in the "not easy" class, and remains so (but that could change), but the difference now is there is recent and up to date informtion and this data is being added to all the time. I would guess giving the structure in place that at present with a sidetrack on 1X and a small workover on 3X they will leave Las Casas as is and drain the field from these 2 wells, leaving open the option of testing other area's later. This could be interesting if 3X has hit a new structure, only the new siesmic will confirm this, as if it has then its more proven and probable and potential figures for LC.

The "problems" as such have been from the low definition old seismic data. This is overcome by the new shoot just happened. Well 3X could have been a better well from the off if the new data was there, but as it is 3X has hit proven oil bearing structures and should be commercial at some decent rates (up to 20,000 BOPM) after some proposed small workover (big diameter and high penetration perforation and a new acid wash to reduce the high "skin" effect caused by the balance during drilling as the depths were different to what the low definition and old seismic said they would be).

I am very relaxed going forward, and in fact the simple fact that a debt and equity is possibly going to happen to buy out PDN in Colombia as per the Sunday Telegraph report today, shows that the banks and insti's also like the data that your link led me too 64bit :)


PapalPower - 16 Apr'06 - 15:14 - 1416 of 1430
pjackson64 issuing equity is bad only if the money raised is wasted. If the money is put to good use then there is no drop in the price, if the money is put to excellent use, as in high returns, the price will of course rise.

What we have here is the money being used to buy an asset, an asset which is generating profits, and so therefore the money is put to good use. Its not the reason for a fall coming, its more than likely for the recent past weakness if we have vender shares to be issued at 55p ??

I am glad is debt and equity, as this should mean the equity is actually issued direct to the owners on PDN, therefore they receive cash (from the debt) and shares in TAG for their company.

What it offers to TAG is firstly producing and profitable assets, but also importantly a complete corporate solution in Colombia.

Looking to the future, I think Argentina will be on the agenda some time ;)

All in my opinion of course :)




PapalPower - 17 Apr'06 - 09:19 - 1427 of 1430
James T, after reading all the information (and the link is now taken down so no further access) although the Las Casas structure is proven high quality oil and should be a commercial field in a few more months time, its very exciting over at the Tortugas field, the sooner this proven production field is back on line, the better.

It appears Hispanoil were active at Tortugas in the early 1980's after discovery work in the 1970's and then Basic Resources were active there in the early 1990's.

Whilst Las Casas has never naturally flowed during all tests over the years (however it can be commercial via pump), the Tortugas and Atzam fields have naturally flowed at the start, as per Rubelsanto.

So whilst Las Casas due to the high API of the oil is commercial but requires some hard work, Tortugas is slightly lower API but is much easier to get into commercial production state, therefore with the new seismic being done now at Tortugas and a proven production field in the past, we should be very positive that the 3 new drills at Tortugas later in the second half should all be "spotty dog" in terms of hitting the sweet spots, add on to this the three workovers there for T4, T5 and A2 and it all adds in to like I said earlier with the bits of the jigsaw fitting together.

Its been a very long read over the weekend, but its been well worth it in terms of understand the geology, reservoir flow and drainage characteristics and drill work in all things Guatemala.



PapalPower - 17 Apr'06 - 09:38 - 1428 of 1430
For those wondering why I say "jigsaw" I have followed TAG for a long long time, and now things for me are falling into place.

Just my opinions but it goes as follows :

Guatemala has a lot of oil, some in proven fields, some in proven and shut down fields, some in disputed license area's (suspended). You need to be a local player (operational in the country) in order to have the best chances of winning licensing rounds.

When TAG was set up, they took the only license available, Las Casas/Huapec 6-93. This field has oil, but its not that easy to extract and there was a lot of sceptics. Having this foot in the door via 6-93 allowed them to target one of their main early aims, which was Tortugas/Atzam A7-2005, which they duly won and which was approved and awarded rcently.
Now they have A7-2005 which will be relatively easy to get into production, the bonus on top is that the 6-93 field has also yielded high quality oil, and with some extra work should be commercial in decent quantaties. I did mention earlier that the ultimate goal, in my opinion, are the A6-98 and A7-98 licenses which are suspended, these are the ones that could yield that magical and in hiding 2 billion field. Now that TAG have 6-93 and A7-2005, they can bide their time until these licenses come available.
On top of this, as that is just Guatemela, they are expanding by gaining leads in 2 licenses in Colombia, and now the proposed buy out of PDN in Colombia, which will leave them with 5 exploration leads (2+3) and producing fields and ownership of a pipeline that generates a million a year in fee's.
They will then be, as a local company with the PDN takeover, in a much better leading position for future licenses in Colombia, and can go after the prized licenses as and when they come up in future.

So now, they are in a lead position for future potential in Guatemala and Colombia..........and I suggest possible further expansion in future will be Argentina, which could be something special.

We have been a long time getting where we are, but I think its coming together, and I start to see, rightly or wrongly, the unveiling of some strategic decisions in the past ;)

The next 12 to 18 month period for TAG could be a little bit magical in my opinion based just on what they have going on for now, and I shall happily follow it as a holder.

http://www.oilbarrel.com/email_index.html?page=/news/article.html?body=1&key=oilbarrel_en:1145325600&feed=oilbarrel_en


18.04.2006
Taghmen Energys Operations Update Augurs Well For Output In Guatemala As It Also Announces Confirmation Of New Licences In Colombia
Taghmen Energy, the AIM-listed junior focused on Central America, is active in the news flow business just now. It has announced a detailed operations update and provided details of a new addition to the portfolio.

Last December the company announced Well 3X was producing 40-degree oil at an estimated rate of 100 barrels of oil per day (bpd) under swabbing operations at the Las Casas field, which lies in licence 6-93 in Guatemala. This meant the company was off the starters blocks in terms of production.

Now it says output rose to around 150 barrels of oil per day during the swabbing operations. Then in January a downhole pump was installed and the well was tested at various production rates. The well was shut-in for a pressure build-up test in late February and the pressure recorders are due to be pulled soon. Under the planned test programme, the second of the three prospective zones in Well 3X will be perforated. The perforation will cover 44 feet of pay over a gross interval of 167 feet. Extended testing of each zone is necessary to allow for the collection of reservoir data and for the assessment of possible damage that may have been caused whilst drilling the well.

The story of the Las Casas field, as far as Taghmen is concerned, starts in the first half of 2005 when wel1s 1X and 2X were worked over. Well 2X proved to be non-commercial but 1X has been capable of producing 100 barrels of fluid per day, of which around 70 per cent is oil. The company plans to sidetrack Well 1X and this work is expected to start on May 1st following the interpretation of seismic data to determine the optimal bottom hole location. It is expected that drilling of the sidetrack will take approximately 40 days to complete. There should be a much clearer picture of the wells output potential once these operations are complete.

In the past Taghmen has said there are a further nine leads in the 6-93 licence area with potential unrisked reserves of 45 million barrels in addition to the originally identified Las Casas and Huapac prospects. The plan was to acquire 2D seismic to firm up and confirm these possible leads.

The planned acquisition of 2D seismic over Las Casas, Huapac and Yaxa areas of 6-93 is now proceeding on schedule with all lines covering the Las Casas field having already been recorded and sent for processing. Initial indications are that the data being collected is generally of very high quality. It is expected the seismic acquisition on 6-93 will be completed by mid April at which time the seismic crews will immediately move on to licence 7-2005 (Tortugas/Atzam) and commence both 2D and 3D seismic operations there.

Taghmen has also confirmed that the contract for the Midas licence in Colombia, foreshadowed in February, was finalised at the offices of the Colombian National Hydrocarbons Agency on Wednesday April 5. At the same time, the company has entered into an agreement to acquire an indirect 65 per cent interest in a second licence, also in Middle Magdalena Valley Basin, called La Paloma. Taghmen has identified several leads in La Paloma that could contain potential reserves of approximately 20 million barrels (13 million net to the company).

http://www.investegate.co.uk/article.aspx?id=200604180700485636B

The big news on the link above :)


Taghmen Energy PLC
18 April 2006
www.taghmenenergy.com

ACQUISITION OF PETROLEOS DEL NORTE

Thanks for the update, Papalpower.

Welcome. I cannot see too much happening now until the first payment is made for the PDN purchase in this quarter (April to June).

I think there will just be price manipulation by the MM's, just an opinion, therefore sit back and wait for the PDN deal to become in place and confirmed with first payment.

Looking cheap at the moment...i think it is a buying opportunity at 48p

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The article is under the "free content" so the link below :

http://www.investorschronicle.co.uk/content/free/2006/News/news_20060421_19.html

21 April 2006

Taghmen picks up PDN

Taghmen Energy has acquired Colombian oil and gas company PDN in a $32.3m (18.2m) deal. It will be funded from existing cash balances and through a placing and debt financing, the details of which have yet to be finalised. The deal brings production of 523 barrels per day net to Taghmen, but chief executive Nicholas Gay is confident that figure can be doubled or tripled within a couple of months.

Taghmen has a decent, albeit small, mix of production, infrastructure and exploration. So the shares are good value at 50p.

Good price to buy at 50p before production increases.

A copy of my post at AFN for info on my opinion :


PapalPower - 23 Apr'06 - 05:33 - 1575 of 1576 edit

ttnyrp, I have answered on here as its the right place...

Well 3X is on long term production testing. This covers a whole range of aspects, better known as "reservoir engineering". Without getting complicated and going into GOR, AOF and any other number of abbreviations lets me try to put it simply for you.

Reservoir engineering looks at a whole range of data, and among other things calculates proven oil and probable oil from the potential amount. Potential is the headline "up to" figure, meaning a structure based on seismic could have potential reserves of "X" million barrels taken from an OOIP figure (Original Oil in Place). Drilling and measurement of lots of data can tell you how much of that "potential" can be recovered. EG you have potential "x" million barrels, and from that they think they can recover lets say "y"%. Drilling data and flow rates and pressures says they can for sure recover "z"%.

Therefore, your potential reserves = X
Your probable reserves = Y
Your proven reserves = Z

Once you at at this stage you hope your Z value keeps going up over time and work to finally equal (in extracted oil and oil still in place) the value of Y over the life of the well. The difference between X and Y is what is left in the ground after the well is finished being economical after a period of time.

Back to where we are with 3X. Firstly the drill has proven there is oil there, and so has given an initial proven figure of oil in the 3X exploration area. Secondly it has flowed at 100bopd av. swabbing pre acid and 150bopd av. swabbing rate after acid.

The intitial studies point to the possiblity that the loss of fluids during drilling has damaged to a small extent (and recoverable level) the oil bearing structure, such that now there is the low rates of flow pre and post acid. This is known as a high skin factor (to explain simply lets say you have a clogged filter, the amount of clogging you have restricting flow is known as a "skin" factor, the higher the skin factor the more restricted the flow is.)

Now, in order to know the best plan of action (intervention, minor workover, whatever you want to call it), you need loads of data and also to now the reservoir pressures, bottom hole pressure etc.), and also its best to have new seismic (which is/has happening/happened) and then you need to formulate an action plan.

What else do we know about 3X apart from potential high skin factor ? Well we also know the water cut (the percentage of water in the fluids pulled up) is high. A high water cut is not a good thing, as you are wasting time and money pulling up water and oil, when its best to pull up more oil and less water.

What I would take from this information is that firstly the perforations may have additionally entered into the area above or below the pay zone, and are allowing a higher percentage of water into the well bore. Secondly from the high skin factor I would say the perforation has not been totally successful and nor has the acid job.

What would an action plan be, well I would suggest a small intervention, resulting in blocking, neutron log, lock off water zones, reperforate with big charges, new high acid concentration wash to get rid of any drill fluid damage and then the AOF (Absolute Open Flow) of the well would be greatly increased from what it is now, by a big reduction in the "skin" factor. This would lead a substantial increase in flow rates, and by locking off the water zones, the pump would also be pulling lots more oil and less water and so be more efficient.

As you see, once you drill the hole, it does not stop there, it goes on and on and on, lots of engineering work involved to maximise not only the flow rates, but also to enhance the recovery of oil, to improve the figures for probable reserves, to know the correct drainage rate so as not to damage the reservoir, to calculate the area (how many acres) you are draining from this well, and where any future well should be located etc. etc. etc.

So presently they are perforating and testing the three pay zones, gaining all the data they need, and they will probably then do a small intervention on 3X once all three zones are tested, and then put the well into commercial production. That is why I have recently suggested that no news on 3X until around July time (the July ops update), as there is a load of testing and data work still to be done there.

OK, so that all sounds a bit of a damp squid but not a major problem and its going to come good, so whats the immediate upside ???

Well, the immediate upside is :

1/ They now know what the correct balancing method is for drilling at Las Casas, means future wells will not suffer any drill fluid damage to any extent.

2/ The old seismic data is not good and not detailed, they needed new data done for high definition data, this has been done, so all future drills will be based on the very latest and high definition data.

3/ The new seismic data has allowed them to pinpoint the very best bottom hole point for the 1X sidetrack.

4/ The drilling at 3X has allowed the first real new drill data for Las Casas in 20 or 30 years, all valuable informaiton.

This means that for the 1X sidetrack commencing around the 1st of May there should be very high hopes that its going to be a cracker, as I have leaned to in the past, my expectation is for 1X to be far better than 3X (this being that 3X was an exploration discovery well and it was the first one to be drilled, if you like, the same way that EME discovered on the vertical they messed up the drill fluid balance at Eagle North-1, so on the next drill, horizontal, they can be far more accurate) TAG have also had a drill fluid balance problem, but all signs are they can easily recover this and have a commercial well in 3X, a small intervention rand the AOF figures look good leading to decent potential production output figures, but on their next drill, with 1X, things should go much quicker and better :)

Thats my opinions ;)

Good news, I have got some more data on the oil pipeline, and it is good news !

From this we can see the pipeline generated 1 million in tarif income from 2000 bopd through put in 2005. Currently its running at 3680bopd so that should mean it generates this year 1.84 million in tarifs and its full capacity is 25,000bopd so at present rates with full capacity it could generate for TAG income of 12.5 million a year, not that it will as TAG will be sending their oil from their Colombian fields down it, but it shows what the present oil boom in Colombia will now do for TAG in future in terms of tarif income on the pipeline using spare capacity that TAG does not require. These figures do not take into account present tarif increases or future ones. As more drills are done, and other companies discover oil, and transport it through TAG's pipleine, then in fact the pipeline tarif alone could be paying for all of TAG's corporate overhead in future (and all the oil is pure profit). I see why Nick is pointing to why the pipeline was such a good buy !! :) Still trying to find out what the potential b.o. are for the PDN licenses, we are only getting proven and probable, I would like the potential, but I suppose they will wait for new seismic which will be done in Colombia soon enough later this year.



http://www.mapsearch.com/news/news_display.cfm?Section=NEWS&ArticleID=252879

Taghmen Energy acquiring Colombian producer

Apr-18-2006

By OGJ editors

HOUSTON, Apr. 18 -- Taghmen Energy PLC, a London independent oil and gas company focused on Latin America, agreed to buy Petroleos del Norte SA (PDN) of Colombia for $32 million.

PDN operates three fields in the Middle Magdalena Valley, producing 977 b/d of oil (523 b/d net). It has a net 6.9 million bbl of proved and probable reserves.

The company owns and operates the 25,000 b/d, 180-km, 10-in. Rio Zulia-Ayacucho oil pipeline with current throughput of 3,680 b/d. It carried 2,000 b/d in 2005 from Ecopetrol-operated Rio Zulia and Tibu oil fields in the Catatumbo basin.

Taghmen holds interests in the Midas and La Paloma blocks near PDN's properties.

PP,

Looks like a very shrewd and long term generator. It get better all the time and thanks for info.

Yes, I see what you are getting at, Papalpower...Taghmen is due for a rise soon...and the seismic is on the way as well.

The prospects look great mid and long term, just the short term is boring in the eyes of many, so until July perhaps nothing is going to happen ???? Still, allows further adding to the holding at the 46p to 55p level in the months in ahead maybe :).................

Very good buying opportunity now

Just let VOG do something spectacular over the next month or two and I shall be having serious thoughts about jumping in on this one with a spot of top-slice. Exciting, innit??

Yes, it is exciting and very profitable atm, I opened my holding of TAG yesterday @ sub 49p,a bit peeved that shortly after I could have got them a couple of pence cheaper, but hey these are going to go far higher imo. I am a value investor by nature but I am turning into an oily what with goo,chp, and a 2 year holder of pet and now tag, oh and ser, although just a smallish punt on them.
2517

Well timed entry 2517George, to think people like Artmis put up 55p a share a few weeks ago, the short term money leaving is certainly allowing those buying now a very good entry point.

I would say, based on recent news and events, to now not expect anything major before say July, but the next couple of months is, in my opinon, a great time to add more, or open a holding.

Anything below 55p is, I think, a real bargain !

Some smallish buys pushing the sp nicely upwards.
2517

Web Site has been updated under the "Operations" section, with lots more information there now.

Just in case anyone thought things had changed, there is an error on the updated web site and the text referring to 1XA sidetrack is wrong, the timescale chart is correct, this being commencing in May.

strow has confirmed this as below :


strow - 6 May'06 - 06:03 - 1795 of 1797
hassy i agree
IMPORTANT-for anyone looking on the updated website,the text states that 1x sidetrack will now begin after 3x completion in late august,although the workplan barchart shows it as previously beginning in may
i e-mailed nick gay last night and got a prompt reply to say that there has been some confusion here in the website text-IT IS WRONG AND 1X SIDETRACK IS AS PREVIOUSLY STATED IN MAY WITH HUAPAC DRILL TIMETABLED FOR JULY
hope this helps if anyone was panicking last night like i was-i have asked him and im sure it will be done anyway if it can be corrected asap to avoid further worry and confusion

2006 Work Plan For Guatemala and Colombia

Guatemala (Active drilling 2006 to early 2007)



For Las Casas license

Ongoing = Long Term Production Testing - Las Casas 3X
May to June 2006 ***** Sidetrack of Las Casas 1X
July to August 2006 ***** New Well Huapec 2X

For A7-2005 license

May to June 2006 ***** Workover of Tortugas 4 (any order 4/5/2)
June to August 2006 ***** Workover of Tortugas 5
August to Sept 2006 ***** Workover of Atzam 2
May 2006 ***** 2D Seismic at Tortugas / Atzam
June to Sept 2006 ***** 3D Seismic at Tortugas / Atzam
October 2006 onwards ***** Drilling of 3 news wells at Tortugas/Atzam
___________________________________________________________________

Colombia (Process and Prepare ahead of 2007 drilling)



Midas License

May to June2006 ***** Reprocess old seismic and Well Studies
June 2006 ***** Geochecmical Survey
August to November ***** New Seismic acquisition

La Poloma License

May to June 2006 ***** Reprocess seismic and well studies
July to August 2006 ***** Geochemical Survey
Nov to December 2006 ***** New Seismic acquisition

PDN Colombia

Details to be issued once acquired

One Bull point TAG has got is the existing commercial production facilities. With many other junior oils with only oil/gas in the ground (or even only potential oil/gas in the ground), it is easy to forget that these companies most likely will have to issue a lot of equity to raise funds to ever put production facilities in, this equates to a fair amount of dilution by increase of the shares in issue, which is easy to forget and a necessary dilution to take into account.

TAG has production facilities at Las Casas, Tortugas/Atzam and PDN Colombia (including the pipeline). Funding is already done for Huapec facilities and upgrades to Tortugas/Atzam. With the issue of the PDN purchase complete, and with sales of oil on line and increased through to end of 2007, there is no further need to issue equity unless further acquisitions are done, which do not dilute as such.

Therefore, when looking at the in-situ production facilities (in place and allocated already), TAG when it comes to abilty to produce, is fully there already.

This is why the underlying business and position of TAG is good I think, when compared to others where they must potentially raise lots of money through placings to put production facilities in (placings which presently are not taken into account in the prices and the dilution it will bring)

To go with the post above, the other advantage of production quickly is that you get your cap ex money back quickly. If you go around only drilling holes, sooner or later you have to raise money and dilute to put those facilities in, and you are at the mercy of the money holders, however, when you are producing under the kind of licenses TAG have, you can claim your exploration expenditure back when are you producing (in the way of reduced royalties). TAG has this facility in their licenses. This means that while the cap-ex will have been high on the interims and coming prelims, once TAG start producing oil, they can then claim this money back, so thats the big upside of producing quick on these licenses, cash back. So not only are their produciton facilities in place now or accounted for, but that expenditure on drilling and facilities, can soon be claimed back during production, eg, money spent already, is coming back in the months and years ahead.

Conservative and achievable targets. As I have said, TAG is not about finding big reservoirs, its very much about the underlying business and generating money. They do not put out hope and hype, they do put out conservative targets for the business to achieve. For all the ramp of other companies with Gold in the ground or Oil in the ground, what matters most is getting it out and making money from it. In many cases like China the whole political scene could change in 24 months, so the more you get now and make money from it, the better. TAG is actively going about this, and the conservative 3500 bopd output by end of 2007 will be hit I think, with at least 100% potential upside to that figure. Set targets, and then be able to deliver upside !

The 250bopd output from Las Casas is based upon 3X, and to be safe applied to 1XA ahead of drilling, so we might see the first bit of upside creep in after results from 1XA drill.

With the stategic Colombian pipeline throwing in money at will this year and ramping up in the years to come, looks fine. It is known and documented that ECOPetrol will be opening up fields short term that require the use of the pipeline, so tariff's there can easily soon reach approx 5 million dollar revenue levels by 2008.

Colombia will be at 1000bopd minimum nett to TAG I think by end of 2007, this will be moved up from the around about 500bopd from when they take over.

I will keep buying the business plan,if it takes 12 more months before people catch on that making money from oil is what matters most, then fine :)

Direct Link to the April 06 Presentation is below :

http://www.taghmenenergy.com/documents/taghmen_04_06.pps

Papal,

Your commitment here and advfn is unbelievable.

kiwi, I like the company, the management and the story, and will follow it through to when TAG is a much bigger company. They say never fall in love with a company, but sometimes its good to, to understand them, and the processes, which can also give an insight into things wider than just the company :)

Research report (12th May 2006) on TAG in the link below :

Here is the comment from Nick Gay -

"please find a research report prepared by objective capital on taghmen.This covers our existing asset base,but does not take into account any impact of the PDN acquisition.Objective capital has also applied its own conservative geological risk factors to the various prospects.Having done this,they calculate a value for the assets of $84.3 million,well in excess of the current stock market valuation.Removing their risk factors indicates a value of $746.7 million.We obviously have a lot to play for !"

http://www.objectivecapital.co.uk/taghmen.pdf

Thanks for that PP, it's been a wee bit dis-heartening watching the sp weaken recently and any positive info is much appreciated.
2517

2517, wait until the 2nd half of June, things should be picking up then :)

What a an awful chart.

Hi Papal.

I admire your absolute conviction in TAG in view of a disnal, virtually unstoppable downtrend, comparable with the Titanic. I also cant understand why the drastic price move, but somewhere along the line, the market must evaluate it at its present price.Would it perhaps have anything to do with the unease of a Hugo Chaves led, anti-American sentiment building up in southern America. I should have bailed out long ago, but like you, I will wait for better days with June 2006 just around the corner.

Regards
PB

Haystack, after having to read/moderate and ban your ample and everygrowing user name list on AFN, you finally use your real user name on here to post your charts :) LOL

paperbag, the stock is weak in the market, small PI's are selling out and thats it. The company has now released a report which says real value now is 57p, and if things were to go 100% ok then it would be over 400p. The PDN deal is not in the report, but is a booster for the SP believe me.

This will remain week until mid June, but after that this is going upwards, and then Haystack will disappear with his charts, as they will be going upwards in H2, and Hay only likes the ones going down.

The good sign is that capitulation occured this week, when the price crashes it means the majority of small PI's are now out, and then its time to build up again, but this time things are different with the PDN deal and a fully funded drilling programme.

Watch the equity raising price, I will ram this down Haystacks neck when its released :) maybe....... ;) LOL

Operations update today on the link below :

http://www.investegate.co.uk/article.aspx?id=200605170700320901D


As I expected after reading through all the 3X data, a workover is required to maximise the flow rates, although the present 170bopd under swabbing shows its potential, will be a commercial well I do think :) and if the workover is done the target output rates will increase, some upside to that 3500bopd end of 2007 figure already coming I feel.

Seismic is done, enviromentalists will be happy the footprints will disapperar in 6 months, keeps them quiet.

As I said, PDN first closing put back to 16th of June (at PDN's request).

Research report shows that present value us 57p, and potential for over 400p per share (excluding the upside from the PDN deal which I think is worth 60m $ on top after any dilution).

All very good, a new level of better communications being shown. 57p on sale at 39p at the moment.

Excellently timed Operations Update!

PP do you have any views on the 3X Well water and wax content??

silvermede, said before that 3X will require a workover (small one) to reduce the water cut and also increase the flow rates. Perforations appear too high, meaning water coming in as well.

Small workover being new pipe, cement and perforate, new acid job and 3X goes into production at a decent rate I think, maybe some upside coming on that 3500bopd by 07 year end with a good workover on 3X :)

PP, Many thanks, prospects look good

UK smallcap opening - Taghmen Energy up on 83.4 mln usd valuation
AFX


LONDON (AFX) - An operational update provided the impetus to Taghmen Energy, 4-1/2 pence better at 42.

The oil and gas explorer, focused on Latin America, has been valued by Objective Capital, using their own conservative geological risk factors and oil price, at 83.4 mln usd with an upside unrisked value of 700 mln usd-plus.

I have been lurking in the background totally shellshocked with what has happened to sp since i bought in December.
Although i knew it was a good company i was starting to get concerned with the constant fall and appearance of that deramping prat Haystack.
I was only thinking to myself yesterday that the biggest downfall of TAG is there lack of newsflow, all it takes to steady nerves is a statement to say how things are going every so often and that they have now down .
I`m feeling calmer already.

doughboy66, I know how you feel, I'm still nursing 15%+ loss on TAG (although I shall not be selling, imo there is plenty of upside to come over the next 12 - 18 months) and I only bought last month, thought about topping up but I have an overweight position in oil co's atm so looking to pick up more value stocks as they are becoming more attractive at current levels.
2517

Your doing better than me then 2517,i see its dropping again probably due to big losses on Dow at the moment.

DB66, the only consolation in the present markets is that TAG is bottomed, and ain't going any lower that its been already this week. A lot of other oil and mining stocks might be testing new lows for the week tomorrow.

Objective Captial appear to be ok, as they are covering ELP too from 2nd May, which I think is oversold now as well, so I think they are very Objective.

Worth signing up for free at their website for TAG and other small cap updates :

http://www.objectivecapital.co.uk/

From AFX

"Taghmen Energy stood out among gainers, rising 1-1/2 pence to 39 following
an upbeat operations update. The company said overall progress on its operations is "good and on track" with its acquisition of Colombia's Petroleos del Norte signed and due to close shortly, new licences in Colombia and steady progress at its Guatemala work programme.
In an operations update, Taghmen said Objective Capital has recently issued
a detailed research report on the company, valuing it at 83.4 mln usd with an
upside unrisked value of more than 700 mln usd."

Someone elsewhere was asking about the "high wax" mentioned in the ops update for 3X and what this means. Wax formation occurs when the oil/water mix is extracted under certain conditions. Obviously the formation of wax prevents high flow rates, simple solids/liquids equation.

This is interesting, as we know the AOFP for 3X to be good, very good in fact, however the present lower rates of oil extraction have pointed to a "high skin" factor rating.

Is this "high skin" factor rating been from wax formation ?

To treat for wax formation there are many possible actions.

Therefore, the potential upsides for well 3X keep on coming, a small workover to reduce the water cut (cementing and reperforating) is possible, new acid job to reduce skin factor is possible and work to prevent "waxing" is possible. All of these or some of them will help to increase the actual flow rates to be much higher (based on the good AOFP figure for well 3X (AOFP = Absolute Open Flow potential).

If anyone wants to look into the "waxing" issue further, research under "paraffin control / paraffin problems"

PP, Thanks for the 'Waxing lyrical' explanation. That helps in that it can be positively managed. :-)

silvermede, I think after mid June the TAG SP can also be positively managed, and not negatively volatile anymore ;)

Article from the FT (www.ft.com)

Taghmen Energy sees upside
By Stephen Bird
Published: May 18 2006 03:00 | Last updated: May 18 2006 03:00

Taghmen Energy, an oil and gas company focused on Latin America, yesterday announced that its operations were "good and on track".

Drilling licences in Guatemala and Colombia were making progress, the company said, and its acquisition of Petroleos del Norte, a Colombian oil producer, is due to complete next month. Objective Capital, an independent research provider, had issueda report on the company valuing it at $83.4m (44m) with an upside unrisked value of more than $700m.

Nicholas Gay, chief executive, said: "Our expanded operations will provide substantial upside from developments and exploration combined with the rebalancing of the company's risk profile."

Its shares rose 1p to 39p yesterday.

We need flow rates and quick!
I bought in December thinking that testing would be finished end of January -early Febuary now it looks like June,i hope there worth it!

DB66, I do not think 3X flow rates will be anytime soon, it has to have a small workover done. You might actually now get 1XA rates before 3X.

The big difference coming is the PDN deal and production and pipeline revenues. Guatemalan production I would guess is still going to be late Q3 or Q4 start up with 1XA, 3X and also from the Tortugas/Atzam workovers.

Thanks PP as usual for keeping me and others well informed.
I know patience is the order of the day but i find it so frustrating to be locked into a share with such a big loss.

I think Taghmen will soon rise...just need patience as u said...and it is a good buying opportunity

DB66, although I could say I am locked in, it is a long term investment for me.......but I do know that feeling of wishing you had sold out earlier and purchaed a lot more now cheaper........ :( :)

The site is free to register on, and a good new write up on TAG.

http://www.proactiveinvestors.com/registered/articles/article.asp?TAG

Taghmen Energy: Is Guatemala overshadowing the upside potential in Columbia?
By Ian Mclelland

My valuation is around 5p

Nothing much happened today, bid price stable, CANA and SCAP moving the offer down.

I would suspect CANA loaning stock for shorting, and SCAP helping...........watch them get whipsawed if TAG can pay all the PDN payment through debt and cash and not need to raise equity.

Keep a close eye on events in June, especially the 19th onwards..... :)

From now to mid June, as has been said, the SP will be weak.

http://news.bbc.co.uk/1/hi/world/americas/5024428.stm

Colombia's Uribe wins second term

Alvaro Uribe has promised to stick with hardline policies
Colombia's President Alvaro Uribe has been re-elected in a landslide election victory, taking 62% of the vote, the country's electoral commission says.
Mr Uribe, who changed the constitution so he could run for a second term, wins another four years in office.
Correspondents say his tough policies against drugs and militants paid off.
There was no major violence on election day, after huge numbers of security forces were deployed, and Farc rebels pledged not to interfere.
With nearly all ballots counted, Mr Uribe had 62% of the vote - well over the 50% needed to win in the first round.
He pledged to carry on his tough conservative policies.
"With the heroism of our soldiers, we will move forward to have a more secure Colombia," he told supporters.
"Democratic security has started to regain the liberties that terrorism had taken from us."
His closest challenger, left-wing senator Carlos Gaviria, took 22%.
He accepted defeat, declaring: "We're very happy with the results. For the first time in the country's history the main opposition party will be comprised of the democratic left."

He is the one who opened the oil industry up, and now he will continue to do so :)

Thats good news Papal ! I hope you don`t mind me posting that on the CHP thread as it is good news for them as well.

DB66, carry on, its good news for GOO as well as CHP and TAG :)

I would say get ready for another "fantasy" SP rise and blue from CANA, I would suggest ignoring it again and not fall into their games of pumping the price to dump it back. All opinion of course.

I think that is a very good appointment, in itself that has an element of de-risking in it I think :)


Taghmen Energy PLC
31 May 2006
TAGHMEN ENERGY Plc
www.taghmenenergy.com

APPOINTMENT OF NEW DIRECTOR

Taghmen Energy Plc ('Taghmen' or the 'Company') an independent oil and gas
exploration, development and production company, focused on Latin America, is
pleased to announce the appointment of Richard Lavers as a non-Executive
Director with effect from 1st June, 2006.


Richard Lavers

Richard Lavers retired from the Foreign and Commonwealth Office ('FCO) in
February 2006, where his last appointment was as UK Ambassador to Guatemala,
with accreditation in El Salvador and Honduras. In his 37 year career, he has
also been UK Ambassador to Ecuador, Deputy Head of Mission and Consular General
in Chile and has served in Argentina, together with a number of senior positions
within the FCO.

During the 1990's he also undertook a secondment with a merchant bank in London.

Richard Lavers also holds a degree in history from Oxford University.

Nicholas Gay, Chief Executive, Taghmen Energy Plc, commented:

'We are very pleased to welcome Richard to the Board. He has a wealth of
experience, knowledge and contacts within Latin America and provides the Company with a depth of political and environmental understanding of, and insight into, the area of our operations'
31st May 2006

PP,

Agree, seems an excellent appointment and a shrewd move by the company, which may give TAG the edge over others vying for business in the same market place and in dealing with all the in country stakeholders. (Provided he was a well known, liked and effective UK Amabassador?)

SM agreed, and hopefully he will buy a few shares too, a nice cool million would be nice to start getting rid of this overhang :)

It just keeps falling.

Haystack, but your bear stance is now perhaps in trouble, with the seller cleared and the PDN deal to be complete by June 16th......from then on in its only production, revenue and new wells.........enjoy the last few weeks of the bear run as it changes before too long :)

Should be good news for TAG's (sorry, still PDN's at the moment) pipeline tariff's :)

http://news.monstersandcritics.com/energywatch/news/article_1166565.php/Russia_sets_sights_on_Colombian_oil

Down again today I see!

http://www.oilbarrel.com/news/article.html?body=1&key=oilbarrel_en:1149645605&feed=oilbarrel_en

07.06.2006

Research Group Objective Capital Puts A Valuation On Taghmen Energy
Taghmen Energy, the AIM listed junior focused on Central and South America, has the kind of profile which investors like to see in a new, small E&P company. It has some production to pay the bills and ostensibly development opportunities and a lot of exploration upside.

But what is the company worth? oilbarrel.com is not in the business of saying a companys shares are too high or too low. We set out the story as best we can and let investors decide. We are not averse to report what brokers say, however, along with the normal health warnings. Corporate research specialist Objective Capital has recently produced a document on Taghmen which has led the companys President and CEO Nicholas Gay to say: The publication of the research report is very encouraging as it gives the first independent view on the tremendous potential and value of Taghmens operations.

Taghmens assets are currently in Guatemala and Colombia. Guatemala is an oil producer, although it does not appear to have vast reserves. Engulfed in civil wars of one kind and another until 2000 the country is only now beginning to emerge as a hunting ground for explorers. Because the oil and gas seems to be in modest accumulations the country is ideally suited for small, lean E&P companies.

Taghmen holds the 6-93 Licence, which contains two areas known as Las Casas and Huapac, with, according to Objective Capital, recoverable reserves of 16.5 million barrels and 3.1 million barrels of oil respectively. Licences have been granted for a 25-year period. Taghmen has already developed one well, 3-X, which has been producing under swabbing operations. Currently the well is producing at a calculated rate of 170.6 barrels of oil per day with a daily average water cut of 36.5 per cent.

The other Guatemala asset is Licence A7-2005 (Tortugas/Atzam). This is a 25-year contract consisting of a six-year exploration licence convertible to an exploitation licence at Taghmens option. The licence covers an area of approximately 78,000 acres with estimated recoverable reserves of 5 to 16 million barrels. It is close to the Rubelsanto field, which in the past was a producing oilfield. There have also been producing wells in the licence area itself, which Taghmen intends to rehabilitate.

Colombia is also considered highly prospective for smaller E&P companies. The government is keen to attract explorers and has introduced good tax breaks to bring in investment. It has become popular with London-listed explorers such as Chaco and Black Rock. Taghmen has an interest in the Midas Licence. This covers 41,000 hectares and is located in the Middle Magdalena Valley Basin, adjacent to producing fields. Taghmen has a 70 per cent interest in the licence and is the operator. Taghmens 70 per cent interest represents estimated recoverable reserves of 63 million barrels to the company. Taghmen is planning to shoot and reprocess US$1.5 million of 2D seismic in late 2006.

Taghmen also holds a 65 per cent interest in the La Paloma licence, which is also in the Middle Magdalena Valley Basin. The Paloma Licence covers 13,780 hectares with estimated recoverable reserves of 20 million (13 million for Taghmen).

What does this all amount to? Objective Capital says there is an enterprise value of US$83.8 million. This figure is derived as follows: using the reserves figures on the licences as set out above, there are exploration assets of US$79.6 million. Take away an overhead head of US$15 million and you get a total expected operating value of US$64.6 million. Add in starting cash of US$19.2 and you arrived at a total enterprise value of US$83.8 million. Strip out bank and other debt and you get a total value of equity claims of US$83.4 million. Take away alternative equity claims, warrants and options of US$12.5 million and the value attributable to equity holders is US$70.9 million. With outstanding shares of 69.2 million this equates to US$1.02 a share or 57p. This is north of the current price. Objective Capital makes the point: Taghmens intention to be a producer of its exploration properties means that it favours prospects with more certainty and hence more comfort regarding the existence of oil - if not the potential reserves.

There is no certainty that the current enterprise value is correct and when it comes to potential reserves you enter the realm of speculation and hope. No amount of seismic can tell what the amount of oil is in the ground, only drilling can do that. In assessing the potential reserves, Objective Capital, in addition to the recoverable reserves stated above, throws in another 55 million barrels for 9 other prospects in Guatemala and a further 30 million barrels for Colombia. This gives you 190 million or a total unrisked potential value at US$3.9 a barrel of US$746.7 million. However, if you put an average 17 per cent per licence for just geological risk into the mix (i.e. the presence of suitable source rock, existence of a reservoir, adequate trap and seal and dynamics or, simplistically speaking, the likelihood of successfully finding oil) then the risked reserves fall to 32 million barrels for a value of US$91.6 million, a bit different to more than US$700 million.

Also the assessment does not allow for the latest purchase. Taghmen is in the process of buying Petroleos del Norte which will further strengthen its operations in Colombia. PDN owns and operates the Rio Zulia-Ayucucho pipeline, which generated US$1 million tariff income in 2005. It has three producing fields producing approximately 1,000 barrels per day and holds three exploration licences. This will surely alter the valuation.

Operations Update

RNS Number:1553E
Taghmen Energy PLC
07 June 2006

TAGHMEN ENERGY Plc
www.taghmenenergy.com

OPERATIONS UPDATE, JUNE 2006

Taghmen Energy Plc ("Taghmen" or the "Company") an independent oil and gas exploration, development and production company, focused on Latin America, is
pleased to provide the following operational update on its operations in Guatemala.

Well 1XA

Operations on well 1XA commenced in late May, 2006. The sidetrack was successfully kicked off at a depth of 5,810 feet. The total depth is planned to be at approximately 10,000 feet and the sidetrack is expected to take 35 days to drill.

Huapac 2X

The bottom hole location for the planned Huapac 2X well has been selected, based on the interpretation of the 2D seismic survey shot earlier this year.

A drilling pad will be constructed whilst the well 1XA is drilling. Huapac 2X is expected to spud in late July 2006.

Licence 7-05 (Tortugas/Atzam)

Negotiations with the Ministry of the Environment are ongoing to approve the environmental impact assessment. Technical approval has been granted by the
Ministry of Mines and Energy to convert the planned 3D seismic shoot to a 2D shoot. Taghmen believes, based on its understanding of the current status of Government approvals, the Tortugas/Atzam seismic acquisition and the first of the three well work overs will commence in late June 2006.

7th June 2006

An interesting post from Arturo at AFN, if the theory is right and if TAG do go debt for PDN and not equity issue, then there will be some very interesting times ahead, not company wise, but of the backroom consortium type trying to wiggle their way out of what they have made, without losing a load of money from short selling and crashing the price.... Who knows... DYOR !


"
ArturoBechstone - 7 Jun'06 - 12:22 - 2303 of 2324

@ all

I had a quick look through the share history of TAG.L - quite interesting to see that we don't encounter such 0.0001$-shares issued to some ruthless initiators like we see sometimes at the OTC or AIM. All shares were issued above the current share price regardless if deemed or cash prices; 0.65$ = 0.35 GBp was the lowest price. We have 83,641,922 o/s as of today and - more important

- 2,888,889 warrants @ 0.65 US$ (0.35 GBp)
- 29,217,466 warrants @ 0.90 US$ (0.48 GBp)

outstanding that might get converted till 31/7/2006.

If I were a small and clever institutional buyer and I'm convinced of TAG.L, I would form an alliance with another two or three as small and as clever institutions in order to 'kill' those warrants. Probably it was the intention of TAG.L to use the proceeds of the potential warrant conversion to (partly) finance the latest take-over. The conversion would provide up to 28m US$ (15m GBp) for the company's treasury.

But what's happening if there is no incentive for such conversion? writiwrite -TAG would need to collect monies through another PP that is priced closely to the current share price. Now our cunning consortium will enter the scene and will rebuy the shares it already sold in order to sink the shareprice at a resonable discount.

My opinion - your choice !

Arturo"

Its blue BUT I would say ignore it........SEYP have not moved and are still 27/33

The others are just messing around, up on good days and down on bad, they will probably all now drop again Monday to make TAG red.......

I would say, when you see SEYP move, take notice, until then SCAP/WINS/CANA all just playing games

The bid has been 27p for so long now, but the chart going up and down is purely these jokers messing with the offer price........all they can do is move it up and down in the range locked by SEYP.

250K Protected buy at 30.5p has taken some of the overhang, but SEYP still on 27/33, so should be overhang still there.

Still say it, watch SEYP for any movement, today, no movement from them.

Might be worth watching on line buy/sell limits, SEYP now up to 28p bid, L2 4 v 1 @ 28/33

Limits changed

Buy 3.75k @ 33.76p
Sell 10k @ 31.36p

Looks like we've turned the corner.

I think its been leaked that the PDN deal will be debt funded, the shorters are now in a panic as they cannot get the shorts covered by new equity at low prices :)

Good, burn them :)

It has been a good day, papalpower ... I agree...the shorters are in a fix now... crucify them!

At last some good movement as I bought these at 58p and 62p. I've been in a sea of red for over 3 weeks now but I've kept the faith. At least my DVS has cheered me up Friday.

Technotamed........."sea of red".....mines an ocean of red !!!This share,along with SEO is murdering me,but like you,I will continue to keep the faith.

Technotamed......in fact,SEO/ACC/CHP and TAG all read miserably for me.My only saver is ZYT !!!

25K buy at 40p today...............what was that all about ?? :)

Rising 2 days in a row...........somethings up ;)

L2 is 4 v 2 @31/37

Wonder how the acquisition of Petroleos del Monte will affect the price ?

Wonder how the acquisition of Petroleos del Monte will affect the price ?

Long term will be positive :)

Good news today, lets have another 6 months of good news :)

On line limits 3K buy and 25K sell, so pretty strong at the moment in those terms.

A nice read :


http://www.investegate.co.uk/Article.aspx?id=200606260700561276F


Taghmen Energy PLC 26 June 2006

TAGHMEN ENERGY Plc
www.taghmenenergy.com

ANNUAL REVIEW AND FINANCIAL RESULTS

Taghmen Energy Plc ('Taghmen' or the 'Company'), an independent oil and gas
exploration, development and production company, focused on Latin America, is
pleased to announce its financial results for the eighteen months ended 31st
December, 2005 and to provide a review of its operations to date. This
represents the Company's first full reporting period.

Since commencing operations in late 2004, the Company has moved from holding one licence in Guatemala to having established operations in both Colombia and
Guatemala, holding interests in three Colombian producing fields providing 500
barrels of oil per day ('bopd'), five exploration licences in Colombia and two
licences in Guatemala. This portfolio of assets provides the Company with
current production, immediate revenue and significant potential from further
developments within the producing fields and a wide spread of exploration.

Key Achievements

Acquired and established a total reserve base amounting to proved,
probable and possible reserves of approximately 40 million barrels plus an
estimated further approximate 90 million barrels of potential from
exploration licences.

Colombia
Closed first stage of acquisition of Petroleos del Norte S.A, providing
both current production and revenue from two licences, three technical
evaluation licences and ownership of the Rio Zulia- Ayucucho Pipeline.
Acquired two exploration licences in the Middle Magdalena Valley in
Colombia.

Guatemala
Established operations in Guatemala.
Completed the work-over of two existing wells and drilled our first
exploration well.
Reconfirmed the presence of oil in the Las Casas structure within licence
6-93 in Guatemala.
Obtained licence A7-2005(Tortugas/Atzam) in Guatemala.

Financial
Completed a 15 million fund raising.

Financial Results
Recorded a loss of US $6.5 million for the 18 months to 31st December,
2005
Within the loss approximately US $2.7 million related to non cash items,
primarily related to items created at the time of formation and floatation
of the Company

Commenting Nicholas Gay, President and CEO, said:

'The Company has come along way since it was formed. Today we have some very
exciting oil and gas assets, a solid revenue stream from both production and a
commercial pipeline and an established operating platform in both Colombia and
Guatemala.'

Name Change

The Company proposes changing its name from Taghmen Energy Plc to PetroLatina
Energy Plc, to provide a clearer understanding of what it does and where its
focus is centred. This change is subject to approval by shareholders. To achieve this, an extraordinary general meeting has been called for 20th July, 2006.

Annual Report

The Annual Report will be sent to shareholders on 27th June, 2006. A copy will
also be available on the website from the evening of the same day.

Copy of a post :

PapalPower - 26 Jun'06 - 09:41 - 2560 of 2560

stephenwilson I will answer your question and the others in one hit.

TAG's original work programme was to workver 1X and 2X and drill 3X.

They worked over 1X (not in use for many years) but found the initial casing so bad that it was decided to do a sidetrack (which is being done now). From original estimates therefore 1X workover was a failure (as it required a new sidetrack)

They worked over 2X (not in use for many years) but again it was in bad shape, and the decision was to scrap the well (possible use of it for water injection - eg you push the water from the other wells (1X) back into the ground to push more oil/water mix into the other well bore 1X). So in terms of original estimate 2X workover was a failure.

3X was drilled, found oil, but due to the poor original seismic the drill has seen plenty of troubles HOWEVER, from todays news the paragraph says "Late in the year, drilling of Well 3X was completed after encountering
hydrocarbons and the subsequent long term testing of the well has indicated that this well can be produced economically." So this well is a success, but not one thats been trouble free.

Therefore, with 2 failed workovers and a long time coming successful 3X drill news, lots of people will be waiting for 1XA sidetrack for a confidence building success.................this will help boost the reputation of the company and people and should lead to renewed interest.

TAG is a producer now, with 500 bopd, with a tariff generating pipeline that will grow in terms of revenue this year and the years ahead, and who has a very active drilling programme.

Its not got the blue sky jam tomorrow ramp ratio that others have, and so while those rampable blue sky jam tomorrow oilers will fly when they have not even found commercial oil or gas, let alone are within sight of commercial production, TAG will simply grow and grow, slowely and surely, as more and more production comes on line. Their "conservative" target at present is 3500bopd by end of 2007, and needless to say if they get this the price will be nowhere near where it is now. Now its 500bopd + pipeline tariff, so only 18 months until we are at 3500bopd + pipeline tariff.

Today looks like Third Point sold out 100K on an X trade, and 125K in the open market (25K T at 29p then 50K T at 28.5 and then 50K T at 27p)

Thats reduced them down another 225K anyway.

.

Its not Third Point. The honesty and integrity of a poster at AFN "strow" has let us know that he has closed now all his long spread bets, noting that spread betting is not a good thing and its easy to get yourself into a position where the margin can hurt you badly. The MM's have hammered the price down as he has been closing over recent days, and he finished closing today.

I think a number of stocks are still getting hit by SB closing (he also said the falls on LEAD were due to his long SB closing there as well, as he has closed all SB's and will never be SB again)

At least for TAG we know what has caused the falls of recent days now.

Don't forget :




www.oilbarrel.com next conference will take place on:

Thursday 6th July 2006

9.30am to 1.00pm followed by buffet luncheon.

Venue: The Brewery, Chiswell Street, London, EC1

In association with BDO Stoy Hayward

The companies presenting (in the following order) are:

Black Rock Oil & Gas Plc

Afren Plc

Caspian Holdings Plc

Taghmen Energy Plc

Max Petroleum Plc

Tullow Oil Plc

and foreign exchange specialists:

CorporateFX Ltd

Director/PDMR Shareholding

RNS Number:3964F
Taghmen Energy PLC
29 June 2006


Taghmen Energy plc ("Taghmen" or the "Company")

Director's Dealing

The Company was informed today that Nicholas Gay, President and Chief Executive
Officer of the Company, purchased 30,000 ordinary shares in Taghmen at a price
of 28.5 pence per ordinary share. Following this transaction, Mr Gay owns
780,000 ordinary shares in the Company, representing 0.95% of the issued
ordinary share capital.

For further information, please contact:

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

Interesting that the 255K X trade at 28.5p went through not long before Nick's buy of 30K at 28.5p.........wonder if we have more news to come ?

It's only a purchase of around 8500 worth !!!!

Better than a kick in the teeth, and better than no buys at all.

Now lets see, on these wonderful oil stocks like EME ? VOG ? etc... just how many director buys in the last few months ?? ;)

Says it all really.

They all have proven resources and highly lucrative futures esp VOG despite todays fall, indeed this has been dwindling for months now its becoming monotonous VOG i expect to recover indeed PP if you do your research on VOG at curent prices and P/E i would place a bet that 1 year today VOG will be ahead of TAG.

i do however see this as a longer term indeed i hav a nice wee pile here at 29p;)

At what prices if any do you hold this share PP or do you not hold at all?

Regards

Critch, much higher up than 29p :)

.

Company Webcast, well worth watching (best with broadband of course due to large size)

http://www.mclwebcasts.com/Taghmen/Mining%20Comms_files/intro.htm

On line limits suggest the overhang is now clear, which is a good sign of course.

We might get sometime this month news on the 1XA drill, which should reach TD mid month, so a good chance of an update sometime in July.

From a poster on AFN ;

Morning - early limits are

Buy 2.5k @ 29.78
Sell 25k @ 28.5p

Taghmen Energy plc ('Taghmen' or the 'Company') 6th July 2006

Director's Dealing

The Company was informed today that John ('Jay') M. Scott, a director of the
Company, purchased 50,000 ordinary shares in Taghmen at a price of 30 pence per
ordinary share. Following this transaction, Mr Scott owns 800,000 ordinary
shares in the Company, representing 0.96% of the issued ordinary share capital.

This is still going nowhere, except the trend is down.

The board believe in their company, so do i long term. Topped my shed up today.

From a poster on AFN :

Limits like yesterday:

Buy 3.75k @ 31.87
Sell 25k @ 30.5

The oil-barrel presentation link below. Nothing new really thats not already known, however the Guatemala cash flow page is nice confirmation of figures.

http://www.oil-barrel.com/conference/july/taghmen.pdf

http://www.oilbarrel.com/feature/article.html?body=1&key=oilbarrel_features_en:1152287598&feed=oilbarrel_en

07/07/06

Taghmen Energy is another company seeking to make its fortune in South America. Like Black Rock, the company holds assets in Colombia; unlike Black Rock it has gone down the M&A route - buying Petroleos del Norte (PDN) for US$32 million in April - to bring it to maiden production. Current production is running at 500 bpd from the Santa Lucia, Los Angeles and Dona Maria heavy oilfields.

The PDN acquisition also brought the possibility of exploration upside plus ownership of the 183 km, 25,000 bpd-capacity Rio Zulia-Ayacucho pipeline. This is a valuable asset: last year it not only generated US$1 million in tariff fees on the 2,000 bpd running through the near-empty line but it also offers hidden value as a lever for Taghmen to gain equity in other fields in the area.

On the exploration front, Taghmen holds the La Paloma and Midas exploration blocks in Colombia. Here the initial work programmes add up to seismic acquisition and reprocessing at a cost of US$2.5 million. The company believes the Midas block is home to leads with the potential to hold 90 million barrels with La Paloma possibly holding another 20 million.

Exploration is also the name of the game in Guatemala. However, as chief executive Nicholas Gay, who gamely made the presentation despite a recent eye operation, explained to delegates, exploring in Guatemala is not for the faint-hearted.

This is a very unexplored area, said Gay. It sits over the juncture of four tectonic plates so it is a tremendously fractured and tremendously difficult area.

Nicholas Gay outlines his companys plans in Columbia and Guatemala

There have been billion-barrel plus finds in the country but Taghmen is chasing structures with a potential resource size of between 5 and 20 million barrels. It holds two licences here, Tortugas and Las Casas.

Drilling at Las Casas, a potential 17 million barrel deposit, has confirmed this is a difficult area in which to operate but has also proven the existence of producible oil. The company is currently sidetracking the Las Casas-3 well, to be followed by a well on the Huapac structure, which could hold a further 3 million barrels of recoverable oil.

If all goes according to plan - and Taghmens technical people reckon they have a handle on how to drill through these highly fractured subsurface rocks if they can only source the right equipment - then the Las Casas field could produce 250 bpd per well and Huapac some 300 bpd per well.

The Tortugas licence has seen 13 wells drilled in the past, of which eight encountered hydrocarbons. Taghmen plans three well workovers, followed by three new wells at the back end of the year. These wells could produce some 200 bpd and, taking the three projects together, could see Taghmen pumping some 1,750 bpd as a result of the 2006 work programme.

To view Taghmen's presentation click HERE

Full article on link (12/07/07) : http://tinyurl.com/n6uwu


.................Seymour Pierce says buy Taghmen Energy (LSE: TAG.L - news) (52p target) and Adventis Group (LSE: ATG.L - news). The broker has outperform on Avocet Mining and GUS and says hold Burberry and Sopheon (LSE: SPE.L - news)........................ .