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/

The above news has given a rise of 8.16% to the share on the ASX

Fall of 13.79% on the sp today, after very good news. Need a farm-in partner or to raise cash. Will see how much of a retrace over the next few days then a few in an isa.

http://www.oldplc.com/news/opl-increases-tangiers-petroleum-target-price-to-150p-per-share/


Posted on Apr 3, 2012

Tangiers has received a Competent Persons Report (CPR) in respect of the Milligans Formation oil play on its WA-442-P and NT/P81 permit areas in Australia. The report by independent expert, ISIS Petroleum Consultants, is focused on a portfolio of 14 leads which ISIS estimates to contain unrisked oil in place of 615 mmbbls net to Tangiers.

The Milligans Formation represents very attractive upside for Tangiers as the company continues to high grade its Australian portfolio. We believe that the Milligans Formation play represents an additional 76p of upside at this early stage. Given that we anticipate Tangiers to farm down its interest in its Australian permits from 90% to 45% to fund a sustained exploration programme, we are attributing an additional 38p per fully diluted share to our valuation of Tangiers and we are upgrading our price target to 150p per share. We reiterate our BUY recommendation for the shares.

dc have you dumped these yet?

No halifax

h take it you read post 36. :-))

http://www.moneyam.com/action/news/showArticle?id=4346596

Tangiers Petroleum positive on Oz and Moroccan prospects
StockMarketWire.com
2011 has been a very significant year for Tangiers Petroleum - the Company has delineated further, significant prospectivity across its portfolio of assets in Australia and Morocco.

Worldwide petroleum consultants, Netherland Sewell and Associates completed an independent evaluation of the prospective oil resources for the initial four Jurassic prospects (Trident, TMA, Assaka, and La Dam) in Tarfaya and validated the oil potential in these prospects with a combined best estimate unrisked prospective resource of 867 million barrels of oil.

In addition, the Company has added to its exploration portfolio two top Jurassic prospects Zeus and Little Zeus, which are located inboard of its four lower Jurassic prospects, and an additional three prospects in the lower cretaceous Tan Tan interval along with multiple additional leads.

In late 2011, the Company commenced a 3D Seismic Acquisition program in its offshore Tarfaya Block. The Company successfully completed acquisition of a 670 square kilometre 3D seismic survey over primary prospects Trident, TMA, and Assaka in early January 2012. The data results are expected during mid-2012.

The Company is looking to complete a farm-out arrangement for its Morocco and Australian permits during 2012 to finance its multi-well exploration campaign in those regions.

At 8:34am: (LON:TPET) share price was 0p at 31p


Story provided by StockMarketWire.com

http://www.moneyam.com/action/news/showArticle?id=4353674

52nd Oilbarrel Conference - Thursday 10th May 2012

Presenting Companies Include:

Target Energy

Madagascar Oil

Tangiers Petroleum

TomCo Energy

Jacka Resources

http://oilbarrel.com/pub/articles/article_id-38

http://www.moneyam.com/action/news/showArticle?id=4358698

http://clients2.weblink.com.au/clients/tangierspetroleum/article.asp?asx=TPT&view=6589041

Want to load up on these at some point,how far will they drop is the question.

Waiting as well, the company has been very thin on news. Early days yet. A very good looking company for the future.

Totally agree there DC some great prospects,farm out news at some point i hope in the near future.

Very good time in the near future to take a position. Tend to think Range resources has not taken a position for nothing. Keeping a watch. News cannot be to far away
if they hope to drill this year. You had better not get them cheaper than me markymar.
:-))

Tangiers Petroleum's Mark Ceglinski discusses farm in opportunities in Morocco at One2One Forum
Thursday, May 17, 2012 by Proactive Investors
Mark Ceglinski, non-executive chairman of Tangiers Petroleum, presented at the One2One Forum in Melbourne on Wednesday. Proactive Investors brings you the Question and Answers between Mark and the audience. Tangiers Petroleum (ASX: TPT) is actively carrying out exploration on its Tarfaya block offshore Morocco and studies on its Bonaparte Basin permits off northern Australia.

Mark Ceglinski, non-executive chairman, fielded answers during Question Time at Proactive Investors’ One2One Forum in Melbourne, Wednesday 16th May.

The presentation on the night can be ACCESSED HERE.

The company recently completed a 670 square kilometre 3D seismic survey over the primary prospects at its Tarfaya block and is continuing analysis of 2D data over multiple leads within the shallower Lower Cretaceous intervals.

Tangiers has also revealed it is in discussions with potential farm-in partners including supermajors and large independents, for its projects in both Morocco and Australia.


Question from the audience

How junior are you going to go on your partner?

Mark Ceglinski

Just to give you some idea of both of these projects, we’re probably looking at two wells and some seismic in Morocco.

The wells are relatively cheap for offshore wells at $25 million per well so we’re looking at about a $60 million commitment there.

In Australia the shallow wells are about $25 million but we’re going to drill all the way down so that’s about a $60 million well, two wells, so you’re looking at in excess of $100 million drilling program. So if you don’t have a $100 million sheet that you can comfortably write out today don’t bother ringing us basically.


Question from the audience

How small would you go?

Mark Ceglinski

The sort of standard farm out terms that we’re throwing out there are two for one essentially. So we’d be comfortably happy to dilute about half our relevant interest so 75 to 37.5. We’ve got 90% of that major project in Australia down to 45. 37.5 or 45% of those projects is an extraordinary opportunity for us.


Question from John Phillips, chief operating officer of Proactive Investors

Just with Morocco, you’ve already secured the first mover advantage and we can see you have a very large acreage there and we do know major players are moving into Morocco. Do you already have any of those major players speaking to you about a farm-in?

Mark Ceglinski

Because of confidentiality agreements I can’t say who, but I can say we’ve got Tier 1 companies in our data room. So we have supermajors, majors, national oil companies and large independents, when I say large independents, billion dollar companies basically.


Question from John Phillips, chief operating officer of Proactive Investors

Great so you’re having a talk with the majors, can you please provide us with some further details?

Mark Ceglinski

We’ve got people in the data room working through all the information. We have some timelines in terms of when we’ll come to the bidding process.

The finalisation of the bidding obviously we’ll have to paper the deals and then we’ll actually be able to talk about them. But we’re engaged at the highest level, we’ve got tremendous reception to our projects.


Question from John Phillips, chief operating officer of Proactive Investors

Would we here an announcement about this in the next six to 12 months?

Mark Ceglinski

Oh absolutely. Sooner.


Question from the audience

The area in Morocco is so large, are you looking to split it up so you can get different farm-in partners for different areas?

Mark Ceglinski

That’s a possibility. When you look at the current projects or prospects that we have we’ve really only focused on the western side of our permit area.

There is certain prospectivity in here and this part of the block we don’t even know anything about it at this point in time, we’ve not spent any time looking at it. There’s just so many opportunities.

Stratigraphically, the tertiary triassic, there’s also many opportunities that we have not even looked at at this point in time. So theoretically it’s possible that we could have several partners. It’s more likely that we would have one partner who would want to have an interest in the entirety of the block.





http://www.proactiveinvestors.com.au/companies/news/29032/tangiers-petroleums-mark-ceglinski-discusses-farm-in-opportunities-in-morocco-at-one2one-forum-29032.html

Anyone interested in Tangiers this is well worth spending 9 mins of your time.
Fox- davies capital -analyst -talks about the business of oil in morocco.


http://www.proactiveinvestors.co.uk/companies/stocktube/1157/fox-davies-capital-analyst-talks-about-the-business-of-oil-in-morocco--1157.html

Recovering well up 10.89% today.

Results of Annual General Meeting


http://www.moneyam.com/action/news/showArticle?id=4379941