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/

Issue of Equity
PRNW


14 November 2012

TANGIERS PETROLEUM LIMITED

ISSUE OF SHARES

Tangiers Petroleum Limited (the Company) announces that it has issued 7,137,216
fully paid ordinary shares under the Share Purchase Plan ("SPP") as previously
announced on 3 October 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 16 November 2012.

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

Number Class

122,554,576 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

Would not touch this share with a barge pole.
So many options issued - for who's benefit - probably just directors.
Show a complete lack of respect /appreciation for fully paid shareholders.
Looks to me like the directors are in this for entirely themselves and using
shareholders as a cheap way of gearing up their own finances.

Shareholders should get out of this options rip off. I do not hold any for sure.
Have they found any oil etc. Are the directors so brilliant.

Any comments.

Would not touch this share with a barge pole.
So many options issued - for who's benefit - probably just directors.
Show a complete lack of respect /appreciation for fully paid shareholders.
Looks to me like the directors are in this for entirely themselves and using
shareholders as a cheap way of gearing up their own finances.

Shareholders should get out of this options rip off. I do not hold any for sure.
Have they found any oil etc. Are the directors so brilliant.

Sell Sell Sell Sell Any comments.

The options - They are phased over several years . My view if the oil is found that is thought to be in place and the share price follows, cannot see the problem of the directors options. 44m options converted will leave the company with about $7.7 million

November 16, 2012
General Meeting Chairman’s Address

http://clients2.weblink.com.au/clients/tangierspetroleum/article.asp?asx=TPT&view=6614018

16 November 2012
GENERAL MEETING RESULTS

http://clients2.weblink.com.au/clients/tangierspetroleum/article.asp?asx=TPT&view=6614118

Issue of Equity
PRNW


22 November 2012

TANGIERS PETROLEUM LIMITED

ISSUE OF EQUITY

Tangiers Petroleum Limited (the Company) announces that it has issued
10,000,000 fully paid ordinary shares at a price of GBP£0.18 (A$0.28) per
share. This makes up the second tranche of the private placement announced on
24 September 2012 and is in accordance with Resolution 6 approved at the
General Meeting held on 16 November 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 23 November 2012.

The Company has also issued stock options to brokers of the Company, of which
the details are as follows:

Number Terms Expiry Date Purpose

213,733 Unlisted options ex at GBP£ 19-Nov-15 Broker options approved at
0.256 General Meeting held on
16-Nov-12

487,230 Unlisted options ex at GBP£ 19-Nov-15 Broker options approved at
0.242 General Meeting held on
16-Nov-12

Following the above issues, the Company has the following securities on issue:

Number Class

132,554,576 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

213,733 Unlisted options exercisable at GBP£0.256 on or before 19
November 2015

487,230 Unlisted options exercisable at GBP£0.242 on or before 19
November 2015

8% up news due ?

Climbing before farmout news

strong buying now

27 November 2012
Tangiers relinquishes Queensland block to focus on
African Growth Strategy



http://clients2.weblink.com.au/clients/tangierspetroleum/article.asp?asx=TPT&view=6615645

moving up now

UPDATE: Tangiers Petroleum sharpens focus on Morocco
1:36 pm by Jamie AshcroftThe Moroccan acreage is rising in prominence, Shore Capital says



---Adds background and broker comment---

Tangiers Petroleum (LON:TPET) this morning confirmed it has now dropped its legacy exploration assets onshore Australia.

The company is focussed on growth opportunities in Africa, specifically offshore Morocco. And it is currently pursuing a farm-out deal for its offshore Morocco assets, as well as its projects offshore Australia.


“These measures, combined with the recent capital raisings, are aimed at enabling the company to step-up its search and analysis of onshore and shallow water acquisition and farm-in opportunities in Africa,” Tangiers said in a statement.


The company explained that the relinquished Cooper-Eromanga Basin exploration permit was a legacy asset where exploration had not been advanced significantly.


Tangier’s shares edged around 1.5% higher on AIM today, to trade at 30.25p each.


The company’s key asset is the 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.


In a note to clients today Shore Capital analyst Craig Howie said the Moroccan acreage is rising in prominence due to the intense industry interest being shown in country.

“Tangiers has a portfolio of high-impact exploration projects, with large working interests in two key areas,” he said.

“These have been high-graded through geophysical data interpretation and, with a seismic survey completed offshore Morocco, are ready to be farmed out.”


Howie said the projects aren’t without risk, but they offer significant potential across multiple leads and prospects.


“We continue to believe that the completion of farm-outs could provide a very important share price catalyst.”

UP close on 9%,talk of news early next week.

A buy in this weeks IC - Tangiers offers 10-bagger potential. With about $8m of cash as of October, Tangiers has the resources for its current research, but not for drilling wells. There is risk that Tangiers won't find a partner to cover its drilling costs or that a farm-out won't be completed on attractive terms. But those worries seem built into the share price. Broker RFC Ambrian thinks the Morroccan and Australian farm-outs have an even chance of being arranged, while it reckons the stock market assumes a one -in-five chance of success.
At 30p, Tangiers shares trade for less than half RFC Ambrians fully risked estimated value of 70p. In addition the broker calculates that, if a farm-out is successful and drilling turns up a 400m barrel oil discovery, then Tangiers share price could go to 540p by the end of 2013. Conversely , if a farm-out is still completed but no discovey is made, the price could fall to 12.5p. That equates to 10-bagger potential in less than two years, with a downside of 50%. Its risky and speculative, which is what oil exploration is all about, but those odds are enticing.

Offshore Morocco is attracting some of the worlds leading oil explorers to its under explored waters and is shaping up to be oils next big frontier play.
Anadarko petroleum,Kosmos Energy, Cairn Energy, Genel Energy and Repsol have all acquired offshore acreage, but oil and gas minnow TANGIERS PETROLEUM might just have the pick. It bought the 15,000sq km Tarfaya permit - an area about one-third the size of the Southern part of the UK North sea - in 2009 long before Morocco became a hot spot. Cairn and Genel have farmed into licences next to Tarfaya in the past few months ,confirming the oil industry's growing interest in the prospect and prompting investors attention. The companies plan to spend $100m on drilling in late 2013 and early 2014.
Kosmos is also planning to drill multiple wells on its nearby licence in 2013-14.
All this is good news for Tangiers . The company has delineated big drill targets on its permit based on 2D and 3D seismic data, and has opened a data room to lure in a partner. Importantly, three of the biggest reservoir targets are vertically stacked
so they could be tested with just one drill hole, saving a lot of exploration costs.
Independent consultant Netherland, Sewell and Associates estimates that prospective resources of the three targets could be 758m barrels of oil.
But Tangiers also recently shot further 3D seismic data that refines the targets ahead of setting up a farm -out. Its bosses expect to have processed the data by now and hope to have a deal signed by the end of the year. The company also anticipates signing a farm-out agreement for its lower priority offshore Australian licences around the same time.

ASX ANNOUNCEMENT
3 December 2012
CWH signs heads to farm CWH signs heads to farm CWH signs heads to farm
CWH is pleased to announce that it has entered into a non-binding heads of agreement with Tangiers Petroleum Limited (ASX:TPT) (Tangiers) in connection with an opportunity to farm in to exploration permits WA-442-P and NT/P-81 in the Bonaparte Basin located approximately 250km south-west of Darwin.

http://clients2.weblink.com.au/clients/tangierspetroleum/article.asp?asx=TPT&view=6616916

December 3, 2012
Tangiers enters into a farm-out agreement for
offshore Morocco

http://clients2.weblink.com.au/clients/tangierspetroleum/article.asp?asx=TPT&view=6616902

-9.52% on the ASX on the above news.

3 x RNS'S

December 3, 2012
Tangiers signs Heads of Agreement to farm-out WA
and NT blocks

http://clients2.weblink.com.au/clients/tangierspetroleum/article.asp?asx=TPT&view=6616901