88 Energy Limited (formerly Tangiers Petroleum Limited) is an ASX listed exploration exploration company that has recently announced the acquisition of a new, potentially world class oil asset located in Alaska. It also has a 25% stake in the Tarfaya Offshore Block is located on the Moroccan Atlantic margin and was acquired by the company in 2009.

Alaska-project-icewine

morocco

http://88energy.com/

Tangiers to Raise up to $5.8m to Launch
Growth Strategy

http://clients2.weblink.com.au/clients/tangierspetroleum/article.asp?asx=TPT&view=6605007

A new investor Investor Presentation on the company site today -
September 2012


http://clients2.weblink.com.au/clients/tangierspetroleum/article.asp?asx=TPT&view=6605104

Tangiers vows to "hit ground running" as investors snap up fund raising


http://www.proactiveinvestors.co.uk/companies/news/48336/tangiers-vows-to-hit-ground-running-as-investors-snap-up-fund-raising-48336.html

Issue of Equity
PRNW


26 September 2012

TANGIERS PETROLEUM LIMITED

ISSUE OF SHARES

Tangiers Petroleum Limited (the Company) announces that it has issued 5,792,722
fully paid ordinary shares at a price of GBP£0.18 per share which makes up part
of the first tranche of the private placement announced on 24 September 2012.
The Company has applied for the new shares to be admitted to trading on both
the ASX and AIM markets. Trading in the new shares on AIM is expected to
commence on or around 27 September 2012.

Following the placement, the Company has the following securities on issue:

Number Class

113,089,582 Fully paid ordinary shares

44,149,645 ASX-listed Options (TPTOA) exercisable at A$0.16 on or before 31
October 2013

1,000,000 Unlisted options exercisable at A$0.22 on or before 19 July 2014

6,000,000 Unlisted options exercisable at A$0.60 on or before 16 December
2014

1,000,000 Unlisted options exercisable at A$0.22 on or before 16 December
2014

500,000 Unlisted options exercisable at A$0.50 on or before 2 April 2015

3,274,124 Unlisted options exercisable at A$0.60 on or before 2 April 2015

3,500,000 Unlisted options exercisable at A$0.70 on or before 2 April 2015

300,000 Unlisted options exercisable at A$0.70 on or before 10 April
2016

Price and volume query

http://clients2.weblink.com.au/clients/tangierspetroleum/article.asp?asx=TPT&view=6605603

Near term plans are to complete the farm-in process for its Moroccan and Australian assets,expected in the fourth quarter of this year and to move forward with the acquisition of approx 500 sq kilometer 3D seismic survey over its Australian WA-442-p and NT/p81 exploration permits. Additionally Tangiers is seeking opportunities to expand its presence in Africa.

Tangiers was a early mover to Morroco. As a result the management has been able to negotiate exceedingly favourable fiscal terms with the government. These include
a 10 year corporate tax holiday for each exploration discovery, no value added or goods and services tax, and the company will only pay 10% royalty on oil and 5% on gas.
Global offshore well density is approx 8o wells per 10,000 sq kilometres, while in Morroco its 1 well per 10,000 sq kilometres. There has been only 36 offshore wells drilled to date and just eight since 2000.

Tangiers Tarfaya block is located in the East Atlantic margin offshore north west Morocco and comprises of eight contiguous permits covering 11,282 sq kilometres with the average water depth of less thaan 200 metres. The block is situated within a proven petroleum system that contain all the essentials for hydrocarbon exploration,
source,trap,seal, migration and reservoir.

Tarfaya contains multiple prospects and leads including -

Four jurassic -aged prospects - Assaka,Trident,TMA and La Dam

Two prospects in the upper Jurassic - Little Zeus and Zeus

Emerging potential within the tertiary ,Cretaceous and Triassic formations.

Of the portfolio of prospects Trident is the largest with a best estimate of in excess of 400mm bbls


In Morocco international petroleum consultant Netherland, Sewell and Associates inc. have identified 4 prospects in Tangiers block and believes they contain unrisked best estimate resources of 867 million barrels . Thre high case estimate puts the prospective resource potential of all four prospects at over 4.5 billion barrels of oil.

In Australia , isis consultants have to date provided an independent assesment of the resource potential which currently stands at 200 million barrels of oil and multi trillion cubic feet of gas potential.

Share Purchase Plan

#http://clients2.weblink.com.au/clients/tangierspetroleum/article.asp?asx=TPT&view=6606613

Tangiers Petroleum "in right place at right time"
12:53 pm by Philip Whiterow The Tarfaya permit contains eight under-explored licences that together are around one-third the size of the UK Southern North Sea. Morocco and Australia-focused Tangiers Petroleum (LON:TPET, ASX:TPT) is in the right place at the right time according to broker Peel Hunt, which has kicked off coverage with a buy note and 55p target.

In particular, Peel Hunt sees the Moroccan acreage as a likely short-term value driver given recent farm-ins by Cairn Energy and Genel Energy into adjacent licences. As well as underlining the area as prospective for hydrocarbons, thier interest also provides high quality industry endorsement,

Tangiers has a 75% operated interest in the 15,000 sq km offshore Tarfaya permit and is in a good position to conclude a farm-out on attractive terms, the broker said.

The Tarfaya permit contains eight under-explored licences that together are around one-third the size of the UK Southern North Sea. With an oil discovery nearby, hydrocarbon shows in a number of wells and an oil shale mine onshore, the permit is definitively located on top of an active, working petroleum system, said Peel Hunt.

A number of prospects have been mapped that cover two separate geological periods (Jurassic and Cretaceous) and the Jurassic prospects alone have a combined P50 unrisked prospective resource of 867MMbbls.

Although currently not as high profile as the Moroccan acreage, Peel Hunt considers the Australian licences to be equally as prospective from a geological standpoint. A farm-out process is also under way and a deal could be concluded in the first half of 2013.

On a risked adjusted estimate of the exploration upside, Peel Hunt has come up with a value of £569m or 332p/share, but due to timing uncertainty and various exploration risks the target price is a heavily discounted 55p/share.

Shares are currently 23.05p.

Peel Hunt initiates coverage

http://tangierspetroleum.com/~/media/Files/T/Tangiers-Petroleum/Attachments/broker-analyst-reports/23-10-2012.pdf

http://tangierspetroleum.com/~/media/Files/T/Tangiers-Petroleum/Attachments/broker-analyst-reports/TPT%2029-10-2012.pdf

Quarterly Report for 30 September 2012
PRNW


30 October 2012

TANGIERS PETROLEUM LIMITED

Quarterly Report for Period Ending 30 September 2012

The Board of Tangiers Petroleum Limited is pleased to provide the following
commentary on its activities during the quarter ended 30 September 2012. A copy
of the full quarterly report, including the diagrams referred to in the text
and the Appendix 5B (Quarterly Cash Flow Report), is available on the Company's
website at www.tangierspetroleum.com

September 2012 Quarter - Highlights

Corporate

* The Tangiers Board was reshaped on 7 September 2012, as Eve Howell was
appointed Executive Chairman and Max de Vietri appointed Non-executive
Director, joining existing Executive Director Brent Villemarette; the move
was designed to strengthen management's oil and gas experience.

* The Company is in the process of implementing a new strategy which will
expand Tangiers' focus on African opportunities.

* The Company announced an AUD 5.8 M raising on 24 September which will be
used to underpin the aforementioned African growth strategy.

Africa: Morocco - Tarfaya Offshore Block

* Processing of the 677 km2 Assaka 3D seismic survey, which covers three of
the Company's primary prospects Trident, TMA, and Assaka, is progressing
with completion expected in late November 2012.

* Test lines extracted thus far from the survey demonstrate the overall data
quality is excellent and confirm the large Jurassic structures

* Preliminary mapping of rollover anticlines in Triassic grabens underlying
the Jurassic section has identified the presence of large structures;
Tertiary, Cretaceous and additional Triassic age sections will be further
evaluated in the coming months.

* Organic geochemical analysis of oils, cores and outcrop samples has
identified at least three and possibly four source rocks for the
hydrocarbons in the Tarfaya area; Jurassic and Cretaceous source rocks are
present and are viewed to be capable of generating two distinct families of
oils.

* Macquarie Capital (Europe), acting in the capacity of financial adviser for
Tangiers, opened a physical data room in London in early June in order to
provide potential farminee partner(s) access to seismic data, Independent
Resource and Competent Person's Reports, and all available well data
relating to the Tarfaya Block.

* There has been substantial interest from potential farm-in partners for the
Tarfaya Block aided by the fact that farm-ins to two nearby licenses have
been recently announced; the Company expects to complete the process by the
end of 2012.

* Application was submitted to the Moroccan Ministry to enter into the First
Extension Period of the Tarfaya Exploration Permit effective from August
2012 and extending for a period of two years.

Australia: WA-442-P and NT/P81 Exploration Permits

* ISIS Petroleum Consultants (ISIS), which was engaged by Tangiers to secure
a farm-in partner for the WA-442-P and NT/P81 Exploration Permits,
continues to entertain potential candidates in the physical data room
located in Perth.

* The Company is seeking a partner to promote future 3D seismic acquisition
and exploration drilling programmes within the two Exploration Permits.

* The focus is on the 14 Early Carboniferous age Milligans Fan oil play
leads, the Nova deep gas prospect, the Super Nova deep gas lead as well as
the potential shallower Turtle Barnett oil development.

* ISIS has prepared a Competent Persons Report for the 14 Milligans Fan leads
which provides a combined estimate of gross unrisked mean Prospective
Resources of 218 million barrels of oil with a high side case of 505
million barrels of oil.

* Additionally, a CPR prepared by ISIS for the Nova prospect provides an
estimate of gross unrisked mean Prospective Resources of 3.46 trillion
cubic feet of gas with a high side case of 7.83 trillion cubic feet of gas.

* Tangiers has been pleased with the level of interest seen thus far from
potential farminees and expects to complete the process by the end of 2012.

* An environmental study is ongoing in advance of the 3D seismic acquisition
programme to be acquired within the WA-442-P and NT/P81 Exploration Permits
with completion expected by the end of 2012.

* Tenders have been received for the acquisition of an approximate 500 km2 3D
survey overlapping both permits and are presently being evaluated.

Australia: NT/P83 Exploration Permits (Arafura Sea)

* Tangiers was awarded the NT/P83 Exploration Permit in August 2012.

* The 15,540 km2 permit is believed to have prospectivity in Palaeozoic and
Mesozoic sediments and is located some 120 km north of Darwin in the
Arafura Sea in water depths of less than 200 m.

* The acreage is surrounded by wells with oil and gas shows and the large
Evans Shoals and Abadi Gas Fields are located to the northwest of the
block.

* The initial plan is to acquire 500 km of 2D seismic data over the area.

Tarfaya Offshore Block - Morocco (75% and Operator)

The Tarfaya Block, offshore Morocco, is comprised of 8 contiguous permits and
presently covers an area of 11,281 km2 (approximately 2.8 million acres)
following the mandatory 25% relinquishment as Tangiers successfully completed
the Initial Work Period and now enters into the First Extension Period. The
Tarfaya Block is situated approximately 600 km southwest of Morocco's capital
Rabat, inshore from the Canary Islands on Morocco's Atlantic Margin. The Block
contains multiple prospects and leads within the Jurassic and Cretaceous
sediments as well as emerging potential within the Tertiary and Triassic
Formations.

Processing of the 677 km2 Assaka 3D seismic survey by CGG Veritas is ongoing
with early results indicating the data quality is excellent. Completion of the
processing programme is expected by late November 2012. The Assaka 3D survey
encompasses three of the Tarfaya Block's primary prospects, Trident, TMA, and
Assaka, which have been independently assessed by ISIS and NSAI to have a
combined best estimate gross unrisked prospective resource of 758 million
barrels of oil (with Tangiers' attributable interest 568m bbls). The four
primary prospects certified thus far by ISIS and NSAI within the Tarfaya Block
now all have been covered with 3D seismic data. The La Dam prospect with a best
estimate gross unrisked prospective resource of 110 million barrels of oil
(with Tangiers' attributable interest 82m bbls) has previously been covered by
a 580 km2 3D seismic survey acquired in 2006 and reprocessed in 2011.

The Company continues to focus exploration efforts towards maturing leads
identified within the shallower Lower Cretaceous Sands, Upper Jurassic dolomite
horizons, and rollover anticlines in Triassic grabens underlying the Jurassic
section. Preliminary mapping of these Triassic grabens has thus far identified
the presence of large structures. In the coming months additional Triassic age
sections as well as Tertiary and Lower Cretaceous formations will be evaluated.

Macquarie Capital (Europe) acting in the capacity of financial adviser for
Tangiers opened a physical data room in London in early June in order to secure
a farm-in partner for the Tarfaya Block and facilitate the Company's future
exploration drilling programme. The process is well advanced and has been very
well received with several potential farminees having expressed a strong
interest in this farm-in opportunity. The interest was further enhanced by the
recent announcements of farm-ins by Cairn and Genel to two nearby licenses.
Tangiers expects to complete the process by the end of 2012.

WA-442-P (Turtle) and NT/P81 (Barnett) (90% and Operator)

These two contiguous Exploration Permits encompass 3900 km2 and are located
approximately 20 km offshore in the southern, shallow Federal waters off of the
northern Western Australia and Northern Territory coasts, approximately 320 km
southwest of Darwin. The permits are located in relatively shallow water with
depths of less than 60 m and are covered with extensive 2D and modest 3D
seismic data.

Situated southeast of the producing Blacktip gas field, these two permits offer
multiple play types. There is an oil play in the Early Carboniferous Milligans
Fan horizon, an exciting new deeper gas play concept within the Early Paleozoic
intervals, and the Carboniferous to Permian undeveloped Turtle and Barnett oil
fields with the Messner and East Barnett oil leads at the same interval.

ISIS Petroleum Consultants has prepared a CPR for 14 leads identified in the
Early-Mid Carboniferous Milligans Fan oil play. ISIS estimates the combined
gross mean unrisked undiscovered oil-in-place to be 683 million barrels (615m
bbls attributable to Tangiers) with a high side of 1,489 million barrels (1340m
bbls attributable to Tangiers). The combined estimate for gross unrisked mean
Prospective Resources for the 14 leads is 218 million barrels of oil (196m bbls
attributable to Tangiers) with a high side case of 505 million barrels of oil
(506m bbls attributable to Tangiers). The Milligans interval has produced oil
and gas on drill stem tests of two well penetrations, Turtle-2 and Barnett-2,
within the WA-442-P and NT/P81 Permit Areas. This serves to confirm the
presence of an active petroleum system at this horizon.

The deeper gas play consists of two very large structures, Nova and Super Nova.
These structures are believed to be located within Devonian aged sediments
below the mapped Top Bonaparte horizon and underlie the Turtle and Barnett oil
fields. An independent evaluation and CPR prepared by ISIS on the Nova prospect
provides a gross mean unrisked undiscovered gas-in-place estimate of 6.93
trillion cubic feet of gas (6.24tcf attributable to Tangiers) with a high side
case of 15.70 trillion cubic feet of gas (14.1tcf attributable to Tangiers).
The corresponding estimate of gross mean unrisked Prospective Resources is 3.46
trillion cubic feet of gas (3.11tcf attributable to Tangiers) with a high side
of 7.73 trillion cubic feet of gas (6.96tcf attributable to Tangiers).

The shallower undeveloped Turtle and Barnett oil fields were discovered in 1984
and 1985, respectively. Multiple oil bearing reservoirs have been encountered
within the Carboniferous to Permian Keyling, Treachery, Kuriyippi, Tanmurra and
Milligans formations. Three wells tested oil with the Barnett-2 well having
flowed up to 921 barrels of oil per day on jet pump from the Early Permian
Lower Treachery Sandstone. The crude oil was of excellent quality at 38.6° API
gravity. Engineering and reservoir studies have been undertaken to assess
suitable development concepts.

Tangiers is seeking a farm-in partner to promote future 3D seismic acquisition
and exploration drilling programmes within the WA-442-P and NT/P81 Exploration
Permits. ISIS Petroleum Consultants (ISIS) has been managing the ongoing
process and continues with presentations to potential candidates in the
physical data room located in Perth. Tangiers has been pleased with the level
of interest seen thus far from potential farminees and expects to complete the
process by the end of 2012.

NT/P83 Exploration Permit, Offshore Darwin, Arafura Sea (100% and Operator)

Tangiers acquired the NT/P83 Exploration Permit (formerly NT P11-1) located
some 120 km north of Darwin in the latest bidding round for offshore acreage
that closed on 12 April 2012. The permit was awarded to Tangiers in August 2012
and covers 15,540 km2 in water depths of less than 200 m. No wells have been
drilled in the block although there have been shows of hydrocarbons in wells
drilled to the east and west of the block. The large Evans Shoals and Abadi Gas
Fields are located to the northwest of NT/P83. Evaluation by Tangiers Petroleum
has shown that there are three main play types in the block. There are
Palaeozoic subcrop and deep anticlinal closures, Jurassic reactivated tilted
fault blocks and inversion structures, and Cretaceous clastic stratigraphic
plays in prograding shelf sands of the Puffin Formation and Darwin Radiolarite.
During the first phase of the exploration program, the focus is on acquiring
approximately 500 line km of 2D seismic data.

ATP-587-P Cooper/Eromanga Basins, Onshore Queensland (100% and Operator)

ATP-587-P consists of 12 Blocks to the west of the Thomson River between
Stonehedge and Jundah southeast of Longreach and covers approximately 946 km2.
The company is currently assessing its long term plans for this permit which
include potential relinquishment.

Qualified Person

The information in this announcement was produced by Mrs Margaret Hildick-Pytte
who is the Director of Exploration for Tangiers and Mr Brent Villemarette who
is an Executive Director of Tangiers. Mrs Hildick-Pytte holds a BSc and MSc in
Geology and is undertaking an MSc in Petroleum Engineering. She is a member of
SPE, AAPG, the SPWLA and PESA; and is a Fellow of the London Geological
Society. Mr Villemarette is a petroleum engineer with over 30 years of
experience and is a member of the Society of Petroleum Engineers. Mrs
Hildick-Pytte and Mr Villemarette have reviewed this announcement and consent
to its release.

Terminology and standards adopted by the Society of Petroleum Engineers ("SPE")
"Petroleum Resources Management System" have been applied in producing this
document.

Under these standards:

"Undiscovered Oil Initially in Place" is that quantity of oil which is
estimated, on a given date, to be contained in accumulations yet to be
discovered. The estimated potentially recoverable portion of Undiscovered Oil
Initially in Place is classified as Prospective Resources, as defined below;
and

"Prospective Resources" are those quantities of oil or gas which are estimated,
on a given date, to be potentially recoverable from undiscovered accumulations.

KRYSTEL KIROU

Tangiers Petroleum shares rise after busy quarter
10:58 am by Jamie NimmoTangiers still expects to complete to find a farm-in partner for its Moroccan acreage by the end of 2012



Shares in Tangiers Petroleum (LON:TPET, ASX:TPT) rose after it updated investors on a busy quarter for the oil and gas firm.

The company rounded up a period that saw a board reshuffle, the implementation of a new strategy to focus more on Africa, as well as a A$5.8 mln raising last month, which will be used to underpin the African growth strategy.

Tangiers has a 75% operated interest in the 15,000 sq km Tarfaya permit offshore Morocco and it is currently carrying out a 3D seismic survey covering three of the company’s prospects, which is expected to be finished by the end of November.

The company, which also has assets in Australia, says the farm-out process is “well advanced has been very well received with several potential farminees having expressed a strong interest in this farm-in opportunity”.

It still expects to find a farm-in partner by the end of 2012.

Tangiers is also looking for a farm-in partner for its two Australian exploration permits and it is pleased with the level of interest seen so far, with a deal also expected to be completed by the end of the year.

An environmental study is underway ahead of the 3D seismic acquisition programme.

Last week, Peel Hunt initiated coverage on the company with a ‘buy’ rating and 55 pence price target.

The broker said it sees the Moroccan acreage as a likely short-term value driver given recent farm-ins by Cairn Energy (LON:CNE) and Genel Energy (LON:GENL) into adjacent licences.

Shares lifted 3.1% to 24.75 pence today.

Report on Activities for the Quarter ended 30 September 2012- from the company site, more detail with maps/diagrams.

http://clients2.weblink.com.au/clients/tangierspetroleum/article.asp?asx=TPT&view=6611149

The sp may drop sub 20p between now and the AGM mid November. The last of the placing amount of shares (18p) then can be placed on the market . Then we should have some news of partners.

From the advfn board

Ktm450
6 Nov'12 - 09:19 - 235 of 235


Guys ,
Spoke with Eve last week, she is extremley confident we will see the first JV for Morocco before the EGM and the 2nd before the years out.I dont think we will be waiting till after the EGM as alot of people think.

The common thought in Oz is this stock will easily hit 80c on the first , and over 1.20 on the second, throw in some upgraded 3d which Eve said is looking super positive and who knows what how far in the short term.

Not sure if you are aware but its very bullish here, but we have been held down by AIM traders buying on AIM and selling on ASX for a small percentage.

Its been happening for weeks now, otherwise there are practically none for sale in OZ, this is very tightly held !

They have also been Stacking and controlling prices, The Company is well aware and the ASX has been informed

If this wasn't the case this share would no doubt be in the 50's at present

SSP

Okay the SSP , just so you know theres only 800k of shares to us , with the amount of subscriptions , its looking like we will be lucky to get 5000 shares each, hardly a worry. Also the Strategic Investors are mainly instos which are chasing bigger profits than just a few percentage

Peel Hunt

Well they liked there own report so much they have bought 2.2 % of the company

Personally I think you are taking a big risk if you think you will buy in at 18p
With a JV due literally any day , I really dont think its worth it


Good luck to all, its going to be a cracker next month

Strong buying up 7%

Tangiers raises $2m in heavily over-subscribed SPP

http://clients2.weblink.com.au/clients/tangierspetroleum/article.asp?asx=TPT&view=6612891

Up 7% on the ASx last night, looks like a follow here

You spoke to soon dreamcatcher.......keep an eye on caza as on move,i expect good news in the next few days.

Happy here marky, news any day soon on farm in partners