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
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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
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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
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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

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??????