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

Email : info@taghmenenergy.com

New September 2005 Investor Presentation (MS Powerpoint);

http://www.taghmenenergy.com/documents/taghmen_09_05.pps


Read about the new exciting and potentially massive Belize Block 19:

http://www.ciglobal.com/document.asp?DocumentID=109

http://www.gtlaw.com/pub/pr/2001/millerm01a.htm





Taghmen Energy's subsidiary is Petrolatina

Taghmen Energy is an early stage play on being first mover in Guatemala, which management describes as one of the worlds most under-explored oil and gas regions with a proven reserve base of 87 billion barrels. The geology is said to be similar to southern Mexico, which currently produces 3.5 million barrels of oil per day.No extra funds were in the flotation which valued the company at 35 million. The move was sponsored by Canaccord Capital which has enjoyed a good reputation promoting natural resources companies
____________________________________________________________________

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

Major Shareholders : Shares in issue: 53.95M

Gregory Charles Smith............................13,600,001......25.20% Dir
Millennium Global High Yield Fund Ltd..........8,264,959.......15.32%
Chasm Lake Management Services LLC.......5,615,385.......10.41%
RAB Energy Fund Ltd...............................4,480,770........8.30%
Fidelity Investment Services Limited...........4,745,755........8.79%
RAB Special Situations LP.........................3,713,077........6.88%
Moore Capital Management Inc..................2,538,462........4.70%
Meridian Natural Resources High Yield Fund..2,423,078........4.49%
Metage Funds Ltd...................................1,897,470........3.51%
James De Vaux Guiang.............................1,000,000........1.85% Dir
Nicholas Hugo Gay...................................750,000..........1.39% Dir
John McNeil Scott....................................750,000..........1.39% Dir

Total held by major shareholders = more than 92.13%

Remaining percentage available = approx 4.5 million shares
____________________________________________________________________

Drilling Update

RNS Number:9432U
Taghmen Energy PLC
01 December 2005
TAGHMEN ENERGY Plc

Las Casas-Well 3X produces high quality oil

Taghmen Energy Plc ("Taghmen" or the "Company") an independent oil and gas
exploration, development and production company, focused on Latin America, which
listed on AIM in January 2005 announces the result of the initial test of its
Well 3X. The well is currently producing 40o API oil at an estimated rate of
100 barrels of oil per day ("bopd") 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 Licence 6-93.

Well 3X

Well 3X is Taghmen's first oil discovery and the first new exploration well
drilled on the Las Casas structure within Licence 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. 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 40o, this is the highest quality oil found to date in Guatemala
and should therefore command a price close to world prices.


Forward Programme

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
programme over the remainder of Licence 6-93, to confirm further drilling
locations.

Nicholas Gay, President and CEO of Taghmen Energy Plc:

"This is a significant development for Taghmen. We believe that the continuation
of further testing and cleaning up of the well will prove to be beneficial to
increase the production and maintain the high quality of hydrocarbons that are
apparent in the Las Casas structure."
____________________________________________________________________

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

Glossary of terms used in the oil business : Link Here
____________________________________________________________________

ABOUT TAGHMEN ENERGY

Management
125 years of combined oil and gas industry experience
Various members of the management group have previously worked together and they have extensive international oil and gas experience in a number of projects within both developing and developed countries including Russia, Egypt, Kazakhstan, Canada, Azerbaijan and the UK.
The Directors consider that the key strength of the Groups management team lies in its track record in finding and developing oil and gas fields in developing countries, accessing the necessary operating personnel and developing local staff.

Nicholas Gay and John Scott worked together in Russia at Bitech. While at Bitech, Bitech acquired Vanguard Oil Corporation where, together with Geoffrey Killick, they discovered and developed the Rabeh East oil field in Egypt, which was at the time estimated by Bitechs management to have proved and probable in excess of 20 million barrels of recoverable oil.
Separately, Nicholas Gay was a key player in the development and success of PetroKazakhstan Inc (formerly Hurricane Hydrocarbons Limited in Kazakhstan), while John Scott was Chief Operating Officer of Arawak Energy Corporation, a Canadian publicly listed company, in Azerbaijan and was instrumental in the development of that company.
Michael Realini, currently President of Mexpetrol, has worked in Guatemala between 1992 and 1998 as the Vice-President of Exploration of Pentagon Petroleum Inc. He was appointed as the General Manager of Mexpetrol in 2002.
Gregory Smith and Nicholas Gay have relationships with the financial and banking community and have a proven track record in raising both equity and debt finance.
History
The company was formed in July 2004 to acquire and pursue exploration, development and production of oil and gas assets with an initial focus in Latin America.

In 2004, the company raised .3 million (net of costs) through private placements principally with institutional investors to fund the acquisition of Mexpetrol which owns the licence in Guatemala and subsequent operations related thereto.
The Companys current operations comprise the exploration and development of oil and gas reserves in Guatemala, in particular the Las Casas 6-93 concession covering 130,186 hectares in the Peten basin of Guatemala.
The Las Casas lincence was obtained through the purchase of Mexpetrol (Guatemala) Corporation for an aggregate consideration of US.3 million.
Initially Guatemala
Guatemala, a relatively under-explored region, with a high level of prospectivity:
Close proximity to to Mexico and its highly productive fields
The oil and gas fields along the southern margin of the south Peten Basin including Rubelsanto and the area covered by the license lie in a similar geological setting to the oil and gas fields in southern Mexico.
The reservoirs under these fields are of the same age and the two areas have undergone a similar geological history. Many comparisons can therefore be made between the two areas as seismic and sub-service data suggest that the Chiapas southwestern geological trend extends into the Southern Peten (Chapayal) basin. The directors consider reservoir deposits Reefel such as are proven in Mexico have not yet been drilled in Guatemala and could be a valid exploration target in Guatemala.
The economy of Guatemala is growing and there is a strong demand and need for oil and gas energy. The recently elected Government is keen to promote inward investment in general and specifically from small entrepreneurial companies, such as Taghmen.

Licenses
The Company holds the exploration and production licence to the Las Casas 6-93 concession which allows for the exploration and development of the property covering a total of 323,000 acres in the Peten Basin.
The Licence was granted in October 1993 for a 25 year period.
The current 2004 work programme calls for the work over of the 2X well and the drilling of the 3X well, while that for 2005 requires the workover of the 1X well and the drilling of the 4X well.
The licence is issued as production sharing agreement with royalty based on the API of the crude and profit shares governed by the production levels.
A new licencing round is set to to take place in Guatemala in early 2005. The Company intends to bid in the next licencing round.
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

It seems to be a very gloomy period for all AIM stocks, especially the former high flyers and oil minnows. My only blue areas are ELA and CSB and I'm staying about 50% liquid, in case G.W.B. ruins the party. But there are always opportunities so let's keep watching.
sd.

As an update as far as I can give the Las Casas 1x and 2x are being worked over and Las Casas 3x was due for "spud" around mid to late April with a timescale of around 45 days (call it 60 days to be safe).

The two new bids for blocks A6 and A7 were delayed until mid June by the Guatamalan government.

I would therefore expect an update on 1x,2x and 3x when the bid is submitted this month to confirm the bid is in place and to bring us up to date on progress or after its awarded around the end of July as the bid and award process will take around 6 weeks once the bids are allowed to be submitted by the government.

Once the first new well (Las Casas 3x) is done under the three well agreement with Rolln we can then look forward to news on the next two wells under that agreement.

The shares are tightly held and weak holders already out so they have time to get everything in place to allow a flow of good news so although June could have news it also could be they will wait until the end of July when A6 and A7 are awarded. 1x and 2x are proven but were not that profitable around the 20$ a barrel mark but they are now and why they are being worked over. 3x is proven and is hoped to flow anywhere around 500 to 3000 bopd so it is sure before too long they will be producing oil that can easily be moved due to the pipeline infrastructure already there for which agreements have been made.


Details on the Guatemalan Licencing Round are set out below.

The Licencing Round consists of two blocks. These are located to the west of
Taghmen's existing licence and are designated as Area 6-2005 (Rubelsanto) and
7-2005 (Tortugas/Atzam).

Area 6 - 2005 (Rubelsanto)

This area contains three anticlines trending north west - south east, with
reservoirs in the Upper Cretaceous Coban C carbonates. Current production is
said to be approximately 1,700 barrels per day ('bopd'), Extensive facilities
also exist at Rubelsanto. Additional undrilled prospects have been identified in the area and the north flank of Rubelsanto field has not been explored.

Area 7 - 2005 (Tortugas/Atzam)

This area contains two oilfields: Tortugas and Atzam. Both these fields contain
oil in the Coban C formationand the structures are related to salt tectonics.
Tortugas lies on the edge of a salt diapir that exposes salt on the surface and
Atzam is a salt cored anticline.
Tortugas has proven production from the Coban C17 from shallow depths (<2,800')
at rates of over 600 bopd. Additional potential has been identified in the Coban C13 to C16 reservoirs. In Atzam the reservoir lies at greater depths (c3,500') and oil has been produced from the Coban C19 at rates in excess of 1,300 bopd.

The Coban dolomites are the main producing reservoirs in Guatemala. The
formation is divided into sub units of which B, C and D are the main intervals
in which hydrocarbons have been identified.

Its very old news but shows exciting potential for this;

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

1999

Guatemala had disappointing results with its second licensing round held last fall. With only two bidders, Perez Companc and Norcen (later acquired by Union Pacific Resources, UPR), the country chose to suspend its third bidding round indefinitely. UPR, the country's leading producer, continues development in the northwestern Peten basin, drilling seven infill wells at Xan field in 1998 with plans to drill four exploration wells in 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.

Again very old report but a good insight;

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.

http://www.mbendi.co.za/a_sndmsg/news_view.asp?I=67434&PG=23

Guatemala delays bids for blocks A6 and A7
It has been reported that Guatemala's energy and mines ministry has delayed receiving bids for blocks A6 and A7, which make up its 2005 oil exploration and production bid round, until mid-June.

The original date to submit bids was May 16. The process has been slowed down because the bidding rules have not yet been approved by the government's executive branch.

Companies will have a maximum of 30 days to submit offers after the bidding rules are published, according to Romero.
Block A6 covers 46.9ha and is made up of four fields currently producing about 1,800 barrels a day. Proved remaining reserves are some 50 million barrels (Mb) of 21-28 degree API crude.

The ministry has added to block A6 an area that contains three new undeveloped structures besides the four producing fields. Possible reserves on the three new structures are 50Mb.

UK oil company Perenco operates block A6 but its contract expires on 13 August 2005.

Block A7 covers 34ha and has two structures, Atzam and Tortugas. Two wells on each of the structures were drilled in the 1970s and both structures tested at 1,200b/d of 34-38 degree API crude but neither were developed. Proven preserves are some 60Mb of oil. Block A7 is not presently in production.

Update on the major shareholders put in the header too ;

Gregory Smith.................19,865,386....23.04%
Millennium Global.............13,307,696....15.36%
Chasm Lake Management.........10,230,770....11.81%
RAB Energy Fund................8,711,540....10.05%
RAB Special Situations.........7,176,154.....8.28%
Moore Capital Management.......4,076,924.....4.70%
Meridian Natural Resources.....4,346,156.....5.02%
Fidelity Investment............4,559,146.....5.26%
Metage Funds Limited...........3,128,240.....3.61%
Nicholas Gay...................1,000,000.....1.50%
John Scott.....................1,000,000.....1.44%
James Guiang...................1,396,125.....1.16%

Total held = 91.23%

More info;

http://www.ideasintl.com/news/Articles/TaghmenEnergy.htm

Taghmen Energy pursues Latin America strategy with IDEAS Implementation

LIVINGSTON, NJ May 18, 2005 IDEAS International, Inc, a leading supplier of financial and logistics systems to international oil & gas and automotive manufacturing operations, announced today that London, England based Taghmen Energy (AIM:TAG), has licensed the IDEAS international oil and gas venture management solution for its operations in Guatemala.

Taghmen Energy is an independent oil and gas company with a focus on exploration and production opportunities in Latin America. Taghmen Energys 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.

We are delighted to work with Taghmen as they move forward in Guatemala, said Lucie Atamian, IDEAS Director of Global Sales. Its exciting to work with a company with Taghmens vision and growth potential.

Geoff Killick, CFO of Taghmen Energy, commented The implementation of IDEAS will enable us to effectively account for and report on the companys activities as they rapidly expand over the next few years.

About Taghmen Energy
Taghmen Energy is an independent oil and gas company with a focus on exploration and production opportunities in Latin America. Taghmen Energys 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.

About IDEAS
IDEAS International, Inc., a US corporation, is a multinational software development company serving a worldwide client base from offices in the U.S. and overseas. Founded in 1982, IDEAS International has two decades of experience providing software solutions and associated professional services to world-class leaders in industry and government.

Contacts
IDEAS International, Inc
Lucie Atamian, Director, Global Sales
973.993.8000 ext 239
luciea@ideasintl.com

Taghmen Energy
Geoff Killick, CFO
27 Berkeley Square
London W1J 6EL England
+44 (0)20 7297 4360
info@taghmenenergy.com

PP, this looks very interesting and minimal risk do you know when the bids will be actually placed for the new areas ?

PpP: Can you clarify for me the number of shares issued; from the above figures it appears that there are only around 8M shares available outside the majors, and as they are unlikely to want to part with theirs on any good news, it implies that there could be a lot of upside volatility.
sd.

squidd I have updated the shareholders list and my calculations and yes very correct on the upside volatility when news flows !!

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

Major Shareholders : Shares in issue: 50.67M

Gregory Charles Smith.......................13,600,001......26.84% Dir
Millennium Global High Yield Fund Ltd.......7,153,848.......14.11%
Chasm Lake Management Services LLC..........5,615,385.......11.08%
RAB Energy Fund Ltd.........................4,480,770........8.84%
RAB Special Situations LP...................3,713,077........7.32%
Moore Capital Management Inc................2,538,462........5.00%
Meridian Natural Resources High Yield Fund..2,423,078........4.78%
Fidelity Investment Services Limited........2,279,573........4.49%
Metage Funds Ltd............................1,897,470........3.74%
James De Vaux Guiang........................1,000,000........1.97% Dir
Nicholas Hugo Gay...........................750,000..........1.48% Dir
John McNeil Scott...........................750,000..........1.48% Dir

Total held by major shareholders = more than 91.13%

Remaining percentage available = approx 4.5 million shares

squidd/189 the date of the bid submission now confirmed;

http://www.rigzone.com/news/article.asp?a_id=23345

Guatemala Ministry to Receive Bids for Blocks A6, A7 July 19th

21st June 2005

Guatemala's energy and mines ministry has delayed receiving bids for 25-year exploration and production contracts for blocks A6 and A7 until July 19, project manager Evanan Romero told BNamericas.

The 46.9ha block A6 and the 34ha block A7 in Alta Verapaz department make up the ministry's 2005 oil exploration and production bid round.
Originally the ministry planned to receive bids on May 16 but the process experienced some delays in getting the bidding rules approved by the government's executive branch.
Block A6 is made up of four fields currently producing about 1,300 barrels a day (b/d) of oil plus three new undeveloped structures, La Felicidad, Las Mercedes and El Cedro.
Estimated proven remaining reserves are in the range of 50 million barrels (Mb) of API 21-28 oil and total reserves are estimated at about 100Mb.
European oil company Perenco currently operates the block but its contract expires on August 13 this year.
Perenco exports all crude produced on block A6 to BP's refinery in Houston.
Block A7 has two structures - Atzam and Tortugas - that were in production until early 1984. Estimated proven reserves on block A7 are calculated at 54.1Mb.
Included among both contracts' requirements are the acquisition, processing and interpretation of 150 sq km of 3D seismic and 50km of 2D seismic data and drilling 1-3 exploratory wells.

PpP: Thanks for that. I note from a google search that Nick Gay is still active at internationsl conferences, so he obviously didn't just want to retire to Latin America with his PetroK stock options. The calibre of this guy and that of his backers tells me that this is a worthwhile gamble with limited downside and massive upside potential.
sd.

Bids to be submitted next week for A6 and A7. Once the bid is awarded (perhaps before) we can expect a full and complete update from TAG on Las Casas and everything thats been going on.
The countdown for news begins from bid placed day and could be anytime in the following 6 weeks from then.

http://www.rigzone.com/news/article.asp?a_id=23345

PpP: Must be about time to gamble on this one with the sp drifting downhill on no volume. Think I'll dip a toe in
sd.

squidd the 19th July has passed so the bids should have been submitted for A6 and A7. It is my opinion that TAG did not want to release any updates on the companies position prior to the bid so that it puts them into the best possible position for the bid process with nobody knowing how well they are doing.

News will now come any time within the next 6 weeks and the oil is already flowing in my opinion. We will be updated shortly I believe and then its time to fly.

PpP: Took a small punt on this one yesterday - mine was the 2K buy @57p reported as a sell. A tiny gamble compared to that taken by Nick Gay and his backers so I expect to add in due course.
On my watch list of oil minnows TAG is very much the laggard and my buy accounted for nearly half of yesterday's trades. With so few shares in circulation I imagine any movement will play havoc with the OBV in relation to the sp. We'll see.
sd.

Taghmen Energy PLC
26 July 2005
TAGHMEN ENERGY Plc

JULY OPERATIONS UPDATE

Taghmen Energy Plc ('Taghmen' or the 'Company') an independent oil and gas
exploration, development and production company, focused on Latin America, which listed on AIM in January 2005, is pleased to provide the following operational update.

Over the last few months, the Company has continued its planned operations in
Guatemala. These are now starting to bear positive results.

The initial work-over of wells 1X and 2X on licence 6-93 have been completed.

Well 1X

Well 1X has encountered hydrocarbons and is currently being 'swabbed' to produce varying quantities of oil and gas, ranging from 5% to 90% of the liquid flow with a daily average of approximately 35% to 40%. Gas production to date is too small to measure but is constantly present. Initial tests have confirmed that the oil has an API of approximately 38o, while the gas is sour. The well was originally drilled in 1981 and was re-perforated and tested in the 1990's. The damage to casing and the apparent lack of cement behind casing, prohibits a full test. Planning is currently under way to re-drill the well to the north, using the top section of the existing hole and sidetracking above the damage ('the side-track'). Initial discussions with the Guatemalan Ministry of Energy and Mines ('the Ministry') indicate that the side track is likely to be acceptable as the second 2005 commitment well on licence 6-93. Assuming no unforeseen delays, the side track will take place following the completion of the drilling of well 3X.

Well 2X

Well 2X has been suspended following its work-over. The well did not flow and
appears to have a severely damaged well bore. New perforations indicated
extensive formation damage with no measurable oil inflow. The well is currently
being evaluated to assess if production can be stimulated by acidisation or,
failing this, re-completed as a field water disposal well.

Well 3X

Well 3X is currently being drilled. The well has reached a depth of
approximately 6,100 ft with a target depth of 8,500 ft and has reached the
intermediary casing point at the top of the Coban 'B'. Barring unexpected delays the well should reach target depth within three weeks.

Reserves Estimates

At the time of listing the Company, the potential reserves at Las Casas were
estimated to be approximately 26 million barrels, with a further 3 million
barrels located on the Huapac structure. In addition to these, the Company has
identified a further nine leads on the licence, seven of which are estimated to
contain potential reserves of between 2 and 5 million barrels each and the
remaining two between 3 and 10 million barrels each. A seismic programme is
planned to provide further definition.

Licencing Round

The Licencing round in Guatemala has taken place with bids having been submitted on 19th July. The results of this are unknown though discussions with the Ministry indicate that an announcement will be made within the next week. The Company made one application for licence area A7-2005 (Tortugas-Atzam), which it estimates to have between 5 and 16 million barrels of recoverable reserves.

Notification of Interim Results 2005

The Company plans to issue its interim financial results on Wednesday 17th
August

Taghmen continues to evaluate a number of opportunities for exploration and
development within Latin America.

Nicholas Gay, Chief Executive of Taghmen Energy commented:

'Today's announcement highlights the progress the Company has made since listing on AIM. The operations at well 1X are extremely encouraging and we have high hopes for well 3X.

Starting things from scratch is inevitably more time consuming than is
originally thought and in our case there has been no exception. We are extremely grateful for the continued support and patience of our shareholders.'

26th July 2005

For further information, please contact:
Taghmen Energy Nicholas Gay,

PpP: Thanks for posting the latest news from TAG which sounds cautiously encouraging.
Have noted the 232M volume over at oil minnow FAO yesterday; the effect this sort of activity would have on the sp for TAG scarcely bares thinking about.
sd.

squidd it is good news, especially that they have more than the 26 million barrels the float was based on. A 25K buy just gone through and this will now over 12 to 24 months build strongly.

More news soon on 3X completion, A7 bid and also results.