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/

Letter to Shareholders
PRNW


16 September 2013

TANGIERS PETROLEUM LIMITED

Letter to Shareholders

Dear Shareholder

I would like to take this opportunity to update you on the activities of your
Company, including the asset farm-out process and the search for suitable
growth opportunities. While this two-pronged strategy is still being
implemented, as outlined below, your Board is confident that it will deliver
strong returns for shareholders over the short to medium term.

Tarfaya Offshore Block - Morocco

The Farm-out Agreement between Tangiers and Galp Energia is almost finalised.
The only remaining condition to be met is the signing of the Joint Order by the
Ministers of Energy and Finance in Morocco. This has been delayed slightly by
the resignation of the Minister of Energy. However, it is expected that the
agreement will be approved shortly after the appointment of a new minister.
While waiting for approval, preparations for drilling the TAO-1 well are
continuing. Galp Energia is moving forward with environmental approvals and
well planning with a view to spudding the well in the first half of next
calendar year.

Exploration Permits WA-442-P & NT/P81 - Australia

The call for tenders for the acquisition of 500 sq km of 3D seismic data closed
on 13 September. The tenders will now be evaluated and a contract is expected
to be awarded in the coming weeks. Tangiers has been assisting CWH with the
tender process.

New Ventures

Over the past six months, Tangiers has rigorously assessed many growth
opportunities in Africa. Although some have been quite attractive, none have
satisfied all the criteria your Company has set for its next project. We are
currently assessing a number of further opportunities but none has progressed
as yet to a point of an advanced negotiation.

The Board believes that it is important to take the time needed to secure the
right growth asset for your Company. That said, we can assure you that
extensive efforts are being made to identify and examine as many opportunities
as possible. We look forward to updating you on this process when the right
opportunity emerges.

Road Show

Tangiers will conduct an intensive investor relations roadshow from 24
September to 17 October. This will include broker-sponsored presentations in
Perth, Sydney, Melbourne, Hong Kong and London. Tangiers will also be
presenting at the upcoming "Resources Rising Stars" conference on the Gold
Coast on 2-3 October and a MRQ Investor Event in London on 17 October.

EVE HOWELL
Executive Chairman

Eve Howell, Executive Chairman of Tangiers Petroleum to present at Mining and Resource Evening in London on 17th October 2013

Following the resounding success of our previous evening events, Shares Magazine is pleased to be to offer another chance for investors to meet, hear from and ask questions of key senior management figures from carefully selected companies.

This event offers a unique opportunity not only to hear about the latest plans from some of the most exciting companies in the sector, but also to put your questions to the people that matter. What is more, there is a free drinks and canapés reception where you can mingle with industry leaders and your fellow investors. Make sure you don't miss this unique opportunity to get the answers you need from the people who make the market.

Tickets are completely free but places are strictly limited so register now.

Date: Thursday 17th October 2013

Venue: Novotel Tower Bridge, 10 Pepys Street, London EC3N 2NR

Registration: 6.00pm

REGISTER FOR LONDON EVENT NOW

Presentations: 6.30pm followed by a drinks/canapés reception

Companies Presenting:

CHAARAT GOLD

Chaarat Gold (AIM:CGH) is an exploration and development company operating in the Kyrgyz Republic. Situated in the highly prospective Tien Shan gold belt, a JORC compliant resource of 5.76Moz at a grade of 4.03g/t has been delineated at the Chaarat Gold Project. The Company's key objective is to become a low cost gold producer targeting annual production of 200,000 ounces from the development if the Chaarat Gold Projet.
Speaker: Dekel Golan, CEO
Continental Coal (AIM:COOL)

Continental Coal Limited (ASX:CCC/AIM: COOL/US-OTC QX:CGFAY) is a South African thermal coal producer with a portfolio of projects located in South Africa’s major coal fields including three operating mines, the Penumbra, Ferreira and Vlakvarkfontein Coal Mines, producing 2.8Mtpa of thermal coal for the export and domestic markets. A Bankable Feasibility Study has been completed on a proposed fourth mine, the De Wittekrans Coal Project. Continental Coal also has 3 large thermal coal exploration leases in Botswana, with a JORC resource of 2.2Bt, and a further exploration target of 8.9Bt.

Speaker: Don Turvey, Chief Executive Officer
Fox Marble (AIM:FOX)

Fox Marble Holdings PLC is a natural stone extraction company operating in Kosovo and the Balkans region, with headquarters in the United Kingdom. Established in 2011, Fox Marble has access to over 300 million cubic metres of premium quality marble including white breccia and honey yellow onyx.

Speaker: Chris Gilbert, CEO
Tangiers Petroleum (AIM:TPET)

Tangiers is an ASX listed exploration company which has a portfolio of two potentially world class oil and gas assets located in Morocco and Australia.
Tangiers Moroccan assets include the highly prospective Tarfaya offshore block.
In Australia, assets include the significant Nova and Super Nova gas prospects located offshore Northern Australia.
Speaker: Eve Howell, Executive Chairman

Link to Tangiers presentation at our event on 17th Oct 2013

Thanks Bullshare.

Admission to the London Aim on 3rd Feb 2012. Achieved very little. Disappointing to see the company may walk away from the Australian permits due to the high costs of operating in the country. Waiting for a sp bounce and I think I will bounce out too.
As I see it,these Australian oil comps seem to put out a good initial write up and through delays/changed company plans and new management they go off in a different direction to why you were initially drawn to invest in that company in the first place.

More equity being released.

BIG PICTURE - Tangiers shares on the march as market tunes into company-making potential of Morocco

By Ian Lyall

May 22 2014, 11:19am
Operator Galp is chasing three stacked targets: Assaka in the Upper Jurassic; the main target Trident in the Middle Jurassic and will move on to TMA if the well is deemed a success.
Operator Galp is chasing three stacked targets: Assaka in the Upper Jurassic; the main target Trident in the Middle Jurassic and will move on to TMA if the well is deemed a success.


Investors in Tangiers Petroleum (LON:TPET, ASX:TPT) will know soon if the Tarfaya block off the coast of Morocco holds the huge, company-making promise suggested by the pre-drill data.

For the AIM and ASX-listed oil explorer has confirmed work will get underway on its first well in mid to late June.

This follows the mobilisation of the Ralph Coffman jack-up rig (pictured), which will target a “best estimate” 758mln barrels of the black stuff.

With 25% of the block, this represents an unrisked prospective resource net to Tangiers of 190mln barrels.

So TAO-1 fits the very definition of a company-maker, particularly when you consider the group has a market capitalisation of just £21mln.

It is operated by Portugal’s Galp Energia, which has 50%, with the remaining stake is owned by ONHYM, the state-controlled oil company.

Tangiers managing director Dave Wall described TAO-1 as a “highly attractive prospect for Tangiers' shareholders”.

"It is a very large structure located in shallow water within a proven play fairway and adjacent to an existing oil discovery," he said.

"All the ingredients required for exploration success are present in the region, giving Tangiers, and its shareholders, a good chance of success at TAO-1."

Galp is chasing three stacked targets: Assaka in the Upper Jurassic; the main target Trident in the Middle Jurassic and will move on to TMA if the well is deemed a success.

The shares, up a third in the past week, advanced another 10% 13.2p each in morning trade.

Galp is expected to have drilled Assaka by mid-July and Trident by late August, according to director Steve Staley, who knows all about frontier exploration following his time with Cove Energy.

“As is common in these offshore wells, there is no major testing,” he told Proactive Investors.

“With modern technology there is a lot of logging that is going to tell you a lot.”

A 110-metre oil column was discovered on the nearby Cap Juby licence being developed by Cairn Energy and Genel.

However the crude was of the heavy variety, which is more difficult to extract and transport.

“This is encouraging, but we think we are in a better position to find light oil,” said Staley comparing Tarfaya with the Cap Juby discovery.

“There are two questions. The first is heavy oil versus light oil, the other is reservoir quality and we have addressed these pre-drill.”

Much of this work has focused on the primary Trident target as a thorough analysis of the 3D and 2D seismic data, as well as close inspection of the geology beneath the Atlantic Ocean, identified the drill site for TAO-1.

“We have done much to reduce the risk of finding a bad quality reservoir,” said Staley.

“We are carrying a 21% chance of success number. But that figure predates a lot of [seismic interpretation] work.

“Tangiers did a competent persons report before the 3D was shot and interpreted. “Galp has looked at the chance of success and is running with a substantially higher chance of success.”

Can see these doing well in the lead up to the drill.

Tangiers Petroleum's momentum continues on Tarfaya block potential

By Ian Lyall

May 30 2014, 11:42am
Investors are betting on the success of TAO-1 well, to be drilled by the Portuguese firm Galp, which has 50% of the block
Investors are betting on the success of TAO-1 well, to be drilled by the Portuguese firm Galp, which has 50% of the block


Shares in Tangiers Petroleum (LON:TPET, ASX:TPT) were up 12% as investors continued to tune into the significant potential of the Tarfaya block off the coast of Morocco.

Friday’s move builds on the momentum seen since May 16. In that time the stock has risen 48%.

Investors are betting on the success of TAO-1 well, to be drilled by the Portuguese firm Galp, which has 50% of the block.

Work is set to get underway in the middle to late next month targeting 758mln ‘unrisked’ barrels of crude – so the prize is huge for Tangiers, which is sitting on a 25% stake in the block.

“Tangiers Petroleum is a chance to invest in a pure-play, binary exploration well with potentially very large upside,” said research house Edison.

Its risked exploration net asset value for Tangiers is 39p a share – almost triple the current price of 14p.

Operator Galp is chasing three stacked targets: Assaka in the Upper Jurassic; the main target Trident in the Middle Jurassic and will move on to TMA if the well is deemed a success.

The shares, up a third in the past week, advanced another 10% 13.2p each in morning trade.

Galp is expected to have drilled Assaka by mid-July and Trident by late August, according to director Steve Staley, who knows all about frontier exploration following his time with Cove Energy.

“As is common in these offshore wells, there is no major testing,” he told Proactive Investors.

“With modern technology there is a lot of logging that is going to tell you a lot.”

A 110-metre oil column was discovered on the nearby Cap Juby licence being developed by Cairn Energy and Genel.

However the crude was of the heavy variety, which is more difficult to extract and transport.

“This is encouraging, but we think we are in a better position to find light oil,” said Staley comparing Tarfaya with the Cap Juby discovery.

“There are two questions. The first is heavy oil versus light oil, the other is reservoir quality and we have addressed these pre-drill.”

Much of this work has focused on the primary Trident target as a thorough analysis of the 3D and 2D seismic data, as well as close inspection of the geology beneath the Atlantic Ocean, identified the drill site for TAO-1.

“We have done much to reduce the risk of finding a bad quality reservoir,” said Staley.

“We are carrying a 21% chance of success number. But that figure predates a lot of [seismic interpretation] work.

“Tangiers did a competent persons report before the 3D was shot and interpreted.

“Galp has looked at the chance of success and is running with a substantially higher chance of success.”

At 11.30am, the stock was changing hands for 14.13p, for a rise of 1.63p.

“Success will see very material upside, while a failure would mean that Tangiers would likely have to start at the drawing board with limited cash resources but an ambitious management,” said Edison.

“With Tangiers, investors have the potential for material, near-term drilling with significant upside in the case of success.”

bought in last week a couple of times...looking good!

26% rise today.

Tangiers Petroleum (LON:TPET) also kept up its steep rise, jumping another 15% to 16.3p.

Investors are betting on the success of TAO-1 well offshore Morocco to be drilled by the Portuguese firm Galp, which has 50% of the block.



http://www.proactiveinvestors.co.uk/companies/market_reports/69052/market-movers-leni-gas-oil-union-jack-oil-golden-saint-resources-tangiers-petroleum-bglobal-0000.html
----------------------------------------------------------------------------------------------



Edison equity research available

RNS


RNS Number : 4552I

Tangiers Petroleum Ltd

30 May 2014






Edison Investment Research initiates coverage on Tangiers Petroleum.

Tangiers Petroleum is a chance to invest in a pure-play, binary exploration well with potentially very large upside. The company holds a 25% working interest in the Tarfaya offshore block, Morocco. Together with operator GALP, Tangiers will be drilling the TAO-1 well, targeting up to 758mmbbl unrisked potential across three horizons, with a projected mid-June spud date. With the recent successful equity raise in May and partial carry from GALP, the company should be fully funded to drill the estimated US$75m well. Attractive fiscal terms imply that a discovery of any size would be a transformational event for Tangiers. Our RENAV, based on a risked TAO-1 well, is 39p/share, though success could see multiples of this.

Tangiers Petroleum is an ASX- and AIM-listed, Perth-based E&P with a 25% working interest in the Tarfaya Offshore Block, Morocco. The TAO-1 well, targeting 758mmbbl gross best estimate, is due to spud in June.

EXCEPTIONAL LEVERAGE TO UPCOMING DRILL


http://www.tangierspetroleum.com.au/wp-content/uploads/2014/06/Foster-Stockbroking-Research-Article.pdf

Messy past but climbing nice.

Tangiers Petroleum – RFC Ambrian predicts upside of a TAO success

By Jamie Ashcroft

June 06 2014, 4:05pm
Tangiers Petroleum – RFC Ambrian predicts upside of a TAO success

Tangiers Petroleum (LON:TPT, ASX:TPET) shares could be worth three times their current value, says house broker RFC Ambrian.

Analyst Stuart Amor, in a note, says the result of the TAO well, offshore Morocco, is the main catalyst.

As a result of a farm-out deal, the company’s 25% stake in the TAO well is ‘carried’ by Galp (up to US$33mln), and after a small recent fund raise Tangier’s now considers the programme ‘fully funded’.

TAO, which is due to spud later this month, has three targets estimated to total 750mln barrels of recoverable oil resources – the main target, Trident, is thought to contain 450mln.

Amor says a discovery could be relatively cheap to commercialise.

“Tangiers’ main prospects are in 100m of water, meaning that in the case of a commercial discovery any development project would be far less costly than a similarly sized deepwater discovery,” he said.

“The combination of large prospect size, shallow water location and the Moroccan fiscal regime means that we estimate that the Trident prospect is worth US$156m (A¢65/share) risked and US$2,245m (A¢940/share) unrisked.”

RFC Ambrian rates Tangiers as a ‘speculative buy’ with a 48.2p price target.

Moreover, the broker says Tangiers could even be worth as much as 182p by the end of the year if the drilling is a success. Amor does, however, acknowledge that it is a high risk proposition and he estimates that failure could see the shares fall to as little as 0.7p per share.

Investor Presentation

PRNW



9 June 2014

TANGIERS PETROLEUM LIMITED

Investor Presentation

Tangiers Petroleum Limited (ASX: TPT; AIM: TPET) wishes to advise that a copy
of the Company's latest Investor Presentation (June 2014) is available on the
Company's website at www.tangierspetroleum.com.au.

Tangiers shares spike 12% as Morocco drilling begins

By Ian Lyall

June 26 2014, 11:48am
The stock, up almost 50% in the last three months, advanced 1.68p to 15.31p.
The stock, up almost 50% in the last three months, advanced 1.68p to 15.31p.


Shares in Tangiers Petroleum (ASX:TPT; LON:TPET) rose 12% after it said drilling has begun on the Galp Energia-operated TAO-1 exploration well offshore Morocco.

The Ralph Coffman jack-up rig will test up to three stacked targets: Assaka in the Upper Jurassic; the main target Trident in the Middle Jurassic and will move on to TMA if the well is deemed a success.

It is expected to take around two months to intersect the first two oil horizons.

Tangiers owns 25% of the Tarfaya block that’s host to the TAO well, which is targeting a huge hydrocarbon bounty of 758mln barrels of oil equivalent, or 190mln barrels net to the AIM and ASX-listed group.

The TAO-1 well is located within a proven petroleum system and is next to Cairn Energy and Genel Cap Juby heavy oil discovery.

TAO-1 is the very definition of a company-maker, particularly when you consider the Tangiers has a market capitalisation of just under £28mln.

A 110-metre oil column was discovered on Cap Juby; however, the crude was of the heavy variety, which is more difficult to extract and transport.

“This is encouraging, but we think we are in a better position to find light oil,” Tangiers director Steve Staley told Proactive Investors recently.

“There are two questions. The first is heavy oil versus light oil, the other is reservoir quality and we have addressed these pre-drill.”

Much of this work has focused on the primary Trident target as a thorough analysis of the 3D and 2D seismic data, as well as close inspection of the geology beneath the Atlantic Ocean, identified the drill site for TAO-1.

“We have done much to reduce the risk of finding a bad quality reservoir,” said Staley.

“We are carrying a 21% chance of success number, but that figure predates a lot of [seismic interpretation] work.

“Tangiers did a competent person's report before the 3D was shot and interpreted.

“Galp has looked at the chance of success and is running with a substantially higher chance of success.”

The stock, up almost 50% in the last three months, advanced 1.68p to 15.31p.

Tangiers Petroleum says Morocco drilling on track

By Philip Whiterow

July 14 2014, 7:41am
The TAO-1 well is located within a proven petroleum system and is next to the Cairn Energy and Genel Cap Juby heavy oil discovery.
The TAO-1 well is located within a proven petroleum system and is next to the Cairn Energy and Genel Cap Juby heavy oil discovery.


Tangiers Petroleum (ASX:TPT; LON:TPET) has provided the briefest of updates on the TAO-1 exploration well offshore Morocco, operated by Portuguese explorer Galp Energia.

It told investors: “No major operational issues have occurred to date and the well is expected to intersect the Assaka and Trident objectives within 60 days from spud, as previously announced.”

It gave no information as to the depth or the formation currently being drilled as TAO-1 has been designated a “tight well”, which means the data is being kept under wraps.

Drilling began on June 26 and is targeting a huge hydrocarbon bounty of 758mln barrels of oil equivalent, or 190mln barrels net to the AIM and ASX-listed group.

The TAO-1 well is located within a proven petroleum system and is next to the Cairn Energy and Genel Cap Juby heavy oil discovery.

The well is the very definition of a company-maker, particularly when you consider the Tangiers has a market capitalisation of just under £30mln.

A 110-metre oil column was discovered on Cap Juby; however, the crude was of the heavy variety, which is more difficult to extract and transport.

Tangiers believes, because of the geology of the area, that it has a much better chance than its neighbour of discovering lighter crude.

Thought i saw somewhere 60 days drilling, so mid Aug might be interesting.,.

You did Balerboy, scroll up 4 inches. :-))

The well is expected to intersect the Assaka and Trident objectives within 60 days from spud, as previously announced.

can't manage 4 inches anymore DC, thats where the memory comes in ;)