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 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

up 8.5%

Am just in front of you by a 1% dream with caza today...haha good luck to you

You want a race you have one. lol

Ended 12.3% up

Ha....13.11% up .....more tomorrow

War it is then. :-)) Good luck marky.

That it is Mr dream cocktail sticks at dawn

I will have my RNS tom or Monday WITH A 15%+ RISE+ from today

Pint on it

I should be ramping my thead....so ramping yours its two pint v 1

A pint on it lol wow, right then, up 11.25% on the ASX today. :-))

In yesterdays Telegraph "Tangiers Petroleum jumped amid speculation that the company may soon announce a farm-out agreement in Morocco".

Mr D it looks like i have a sharper cocktail stick today CAZA is 11.59% up.........still no news.

lol, up 5.94%