Tangiers Petroleum (LSE:TPET)

Diamond Don · Post by **Diamond Don** » Tue May 13, 2014 8:29 am

Tangiers Petroleum is back listed and trading today, after a trading suspension.

With a £20m mcap and an upcoming potential company maker offshore drill comprising 200mmbbls net to TPET (NAV $1bn @ $5bbl), and now fully funded by the farm-in (Galp Energy) along with a backup fund if costs increase unexpectedly.

It's had it's ups and downs with the recent resignations of the CEO, Board members and even the broker, but I'm back buying this week due to the upcoming drill and am reasonably expecting to make a quick 30-50% pre-TD.

Not many companies drilling these days on AIM, and if this is successful the mcap should push £80-100m.

cheers
DD

mmm281664 · Post by **mmm281664** » Tue May 13, 2014 8:36 am

down 14%....any other tips

Diamond Don · Post by **Diamond Don** » Tue May 13, 2014 8:43 am

mmm281664 wrote:
> down 14%....any other tips

Down on the pre-suspension price, but thanks for looking!

alisa201127 · Post by **alisa201127** » Tue May 13, 2014 10:00 am

down 14%....any other tips.......

Diamond Don · Post by **Diamond Don** » Tue May 13, 2014 10:35 am

alisa201127 wrote:
> down 14%....any other tips.......

Down on the pre-suspension price, but thanks for looking.......!

Broxybear · Post by **Broxybear** » Tue May 13, 2014 12:47 pm

This is one I'm looking at mate reckon could double cash here easily , need Rrl to move first tho

Diamond Don · Post by **Diamond Don** » Tue May 13, 2014 1:38 pm

Early days here, but this morning's buys are already looking a bargain.

Well to spud next month.

cheers
DD

Diamond Don · Post by **Diamond Don** » Tue May 20, 2014 9:12 am

http://www.nextoilrush.com/drilling-jus ... ls-of-oil/

Drilling Just Weeks Away for Tiny Explorer Targeting 1.6 Billion Barrels of Oil

A 20% chance to make 100 times our money?

Even by oil exploration standards that is pretty impressive – This kind of opportunity suited our investment strategy, you need to decide whether it suits yours.

We have done all the reading, crunched the numbers and made an investment in this tiny oil exploration company, and will explain why in this comprehensive article.

Now it’s just a matter of sitting back and waiting a few weeks to see what happens with our investment… and the imminent drilling of a 1.6 billion barrel target.

This tiny market cap oil explorer we have invested in was a first mover in one of the most exciting new oil exploration hotspots in the world – Morocco, North West Africa.

Offshore Morocco has huge reserves of oil on par with North and South America – but it’s almost totally unexplored and unexploited.

Huge potential exists in offshore Morocco for billion barrel oil discoveries, which is why oil super-majors are scrambling for a foothold in the region, recently snapping up any available acreage.

The company we have invested in scooped up one of the best blocks in offshore Morocco way back in 2009 and is drilling a high impact well in a matter of weeks.

A recently drilled well by two oil majors right next door to our tiny explorer discovered heavy oil, proved a quality reservoir AND flowed at a decent rate…

But those two oil majors are now fuming as analysis of their results has revealed that the highest quality part of this offshore hydrocarbon system extends right into our little explorers block…

The analysis shows our explorers’ acreage holds bigger targets, a higher quality reservoir AND lighter oil… and way more of it too – in fact our plucky little explorer has THE LARGEST prospect in the area.

Light oil has a low viscosity and flows easily at room temperature – and fetches a higher price on market….

We are talking 1.6 billion barrels of the stuff here.

That’s what you get for being an early mover, and having your pick of the blocks before the scramble began.

Everyone knows that the best time to invest in an oil explorer is the lead up to a drilling event – just before market hype, excitement and anticipation of a positive result pushes up the value of the stock.

For example, a similar sized oil explorer operating to the south saw their market cap increase 3-fold in the lead up to drilling.

…but with our investment, we have identified a unique and fascinating situation that has forced pre-drill uplift to be compressed into a “coiled spring” that we expect to be released when the market is made aware of our little known explorer – more on this later.

And aside from their upcoming drill, 2014 is set to be the busiest year of drilling in offshore Morocco in the past 14 years. TEN wells alone are planned this year.

Any discovery nearby this explorer’s acreage will have a positive flow on effect.

Not to mention Morocco’s extremely attractive fiscal terms and political stability.

This oil explorer is targeting over 1.6 billion barrels of oil and its market cap is miniscule.

Oil is trading at over US $100 per barrel.

For such a company defining event, a mere few weeks away, it’s trading completely under the radar.

But all that is going to change.

The great unwashed masses haven’t woken up to our company’s potential and near term drilling yet – when they finally do it may be too late…

This company has a stake in an area of more than 11,000km² with multiple prospects showing hydrocarbons.

Now this tiny oil explorer is getting set to push the start button and stab a big, fat drill bit into this monster target.

We did some digging through public company filings and discovered that the managing director of this company recently stumped up 200k of his own hard earned cash to invest before drilling.

Let’s just add up the potential in clear terms – you’ll see immediately why we invested and are now counting down the days to drilling….

The company is about to drill into three stacked targets for a total potential of around 1.6 billion barrels

+

The company has an undervalued market – way below its peers

+

The company scored land ahead of its competitors and had its pick of acreage

+

Morocco is seeing oil activity it hasn’t witnessed in decades, proving the region’s promise

=

An oil explorer that could be about to re-rate in a matter of weeks.

Diamond Don · Post by **Diamond Don** » Wed May 21, 2014 8:54 am

Ok, it's kicked off - and thanks to the MMs for holding it back while I loaded up in the 9s!! - but it's early days and I'm still targeting 20p-ish mid-drill.

About time there was some decent money making going on around here.

cheers
DD

Diamond Don · Post by **Diamond Don** » Wed May 21, 2014 11:09 am

Anybody watching or buying?

+22.75% today, +40% on the week.

mmm281664 · Post by **mmm281664** » Wed May 21, 2014 11:31 am

pains me to say it

well done DD

....ffs

Diamond Don · Post by **Diamond Don** » Wed May 21, 2014 12:37 pm

Company Q&A with Proactive:

http://www.proactiveinvestors.co.uk/com ... 68687.html

Some geological background:

http://www.geoexpro.com/articles/2012/0 ... ns-morocco

cheers
DD

Broxybear · Post by **Broxybear** » Mon May 26, 2014 1:11 pm

What's going on here then trading halt re cash call?
SI went back for more stock?.

Diamond Don · Post by **Diamond Don** » Tue May 27, 2014 1:21 pm

Looks like it was too good an opportunity to miss Broxy, it was the perfect storm for us PIs picking up 9p shares.

This is worth an easy 24p risked as it stands (taking a 50% discount to $5/bbl, at 21% CoS), excluding cash to hand of over $20m (of which $7.5m lodged in account for the drill costs).

Add the post-spud & pre-td market churn, hype and the inevitable broker pump for the SI's to make their tin when the shares come to market mid-June.

No brainer.

cheers
DD

Diamond Don · Post by **Diamond Don** » Wed May 28, 2014 8:41 pm

Looking for this to open on 12 and build from there tomorrow.

Come mid June this should be pushing 15-16p en-route to 20p+ pre-TD.

2 successful drills here and you are looking at a £6 takeover.

Worst case thinking, you should be cautious and take care of your average in the forthcoming sp push.

Cheers
DD

Diamond Don · Post by **Diamond Don** » Fri May 30, 2014 9:13 am

Edison research note - RENAV of 39p/sh

http://www.edisoninvestmentresearch.com ... utlook.pdf

Things are going as expected. Expect 15-16p mid-June, 20p+ mid drill.

Cheers
DD

Diamond Don · Post by **Diamond Don** » Mon Jun 02, 2014 4:29 pm

Still going strong, top slice target arriving quickly!

Broxybear · Post by **Broxybear** » Mon Jun 02, 2014 7:00 pm

Well done dd:)
I missed it , what else you looking at mate?

Diamond Don · Post by **Diamond Don** » Tue Jun 03, 2014 9:29 pm

Cheers Broxy, I've a wee list but nothing set in stone until I've done some research.
Been a bit too busy lately, and distracted by the rises. You must have made a bit of cash here though, have you?

Mind yer profits!

Cheers
DD

Broxybear · Post by **Broxybear** » Tue Jun 03, 2014 10:04 pm

Had a crap time was mostly in mange in profit now tho, debt con killed me eye of the ball.

Watch ukog mate got a few in there if mange hit 2p I'll buy until my head falls off LOL.

Gl mate

MWW · Post by **MWW** » Mon Jun 09, 2014 3:27 pm

TPET still moving think we will see 30-40p during drilling.

Diamond Don · Post by **Diamond Don** » Mon Jun 09, 2014 10:24 pm

Can't see 40p to be honest, the PI masses seem to have disregarded this one, but at 20-25p it's a fair price to me for the potential.

With a bit of positive sentiment 30p is always possible.

At 40p pre-result I will be over the moon!!

Cheers
DD

tangram2 · Post by **tangram2** » Tue Jun 10, 2014 2:12 am

London Stock Exchange shows 18p as closing price, yet Shareprice.co.uk shows 16p.
Which one is correct?

Broxybear · Post by **Broxybear** » Thu Jun 12, 2014 3:22 pm

Bought a good few in here since I bailed on Rrl:)

Should see a nice return from 15/16p IMO 25/30p end of June first week July I'll say.

Diamond Don · Post by **Diamond Don** » Thu Jun 12, 2014 3:50 pm

Good lad Broxy, you know it makes sense.

Not too sure it will rise that fast, but let's see what happens in the run up to spud.
Expecting some buying pressure on these next week.

cheers
DD

Broxybear · Post by **Broxybear** » Thu Jun 12, 2014 7:09 pm

Dd
Let's see the way aim oilys are moving nowt would surprise me to see this 25/30p first week of July.

Gl pal

Noodles · Post by **Noodles** » Fri Jun 13, 2014 10:46 am

Not too sure you timed your entry well Broxy.

25m shares are due to be issued to sophisticated investors in OZ on Monday.
The selling over the past couple of days has been retail selling in expectation of the SI's dumping their placement stock which they got at 16c.

SP in oz 25c close today

Overthebridge · Post by **Overthebridge** » Fri Jun 13, 2014 11:18 am

Noodles
Only way these si will be able to sell is create a vol pump this mate.
There could be more cash raised but in the mid 20s imo

Overthebridge · Post by **Overthebridge** » Fri Jun 13, 2014 11:28 am

Retail selling yup the retail punters always sell before the SI? Lol

Diamond Don · Post by **Diamond Don** » Fri Jun 13, 2014 11:49 am

Broxy
Look what you've done!

Well I've taken a stab and bought back at 13.5p exactly what I sold at 18p, and banked the rest. Pushes my average back up but still way below current price.

Sell the same amount again at 18p and it works out better in the long run, timings aside.

cheers
DD

Noodles · Post by **Noodles** » Fri Jun 13, 2014 11:54 am

Overthebridge wrote:
> Noodles
> Only way these si will be able to sell is create a vol pump this mate.
> There could be more cash raised but in the mid 20s imo

These guys are already in big profit. They paid 16c for the stock when the SP had run up to 23c and this before they handed over their cash. Plenty of these guys would have over leveraged.
Hell I would have been first in line to take out a loan if I was given the offer.
Most of these guys and broker houses will be more than happy with profit from 16c to 25c and will sell.
Some will sell enough of their shares to cover the capital they stumped up for the placement and will let the rest ride the drill bit.

The volume is already in the ASX to churn out some of this stock.
7.3m volume today.

Noodles · Post by **Noodles** » Fri Jun 13, 2014 11:55 am

Hey Don,
Not think it would be better to wait until next week after the placement stock has been turned?

Mike_Mac · Post by **Mike_Mac** » Fri Jun 13, 2014 12:21 pm

Hi

Decided to take a small position due to expected hype and keep some back in case are further decline with placement next week.

Diamond Don · Post by **Diamond Don** » Fri Jun 13, 2014 12:32 pm

Yeah Noodles, thought about it but if you look at the timings last time round you had to be in on/before the issue date to guarantee the stock you wanted at the price you wanted, and I might not have the time to be at my desk come Mon/Tues..

I think the week ahead will see the stock issued along with spud news later in the week and that should create enough pressure to pump it back to the 15-16-17pp levels before drilling anticipation takes it into the 20s. Have you heard anything on spud date?

All in all I'm comfortable with the calculated risk, but as always it's never guaranteed...

cheers
DD

Broxybear · Post by **Broxybear** » Fri Jun 13, 2014 2:22 pm

Spud next week I reckon rig is nearly there,

L2 4 v 1

Broxybear · Post by **Broxybear** » Fri Jun 13, 2014 2:25 pm

Noddles know what your saying, but the .50p Rrl boys didn't sell for 30% tho they pumped it to 1.7p before offloading ,.agree dd I'm expecting a lot of hype re Tpet low mk in the next few weeks.

Gl

MWW · Post by **MWW** » Sat Jun 14, 2014 12:55 pm

Sea bear is in position with rig looking at the maps, should have arrived yesterday. Shouldn't take long to setup the rig imho providing the weather is good.

Wed/Thurs spud, in time for the market to start to deal with the placing shares.

The II's holding the shares won't want to be holding for TD, so will generate a pump to offload into, 30-40p should be achievable, especially if after 10 days we start to see rumours.

Considering the size of the drill TPET has a very low MC for this stage in proceedings.

Diamond Don · Post by **Diamond Don** » Sat Jun 14, 2014 1:19 pm

MWW wrote:
> Sea bear is in position with rig looking at the maps, should have arrived yesterday.
> Shouldn't take long to setup the rig imho providing the weather is good.
>
> Wed/Thurs spud, in time for the market to start to deal with the placing shares.
>
> The II's holding the shares won't want to be holding for TD, so will generate a pump
> to offload into, 30-40p should be achievable, especially if after 10 days we start
> to see rumours.
>
> Considering the size of the drill TPET has a very low MC for this stage in proceedings.

Thanks for the info, agreed it's a very low mcap considering the impact a successful drill would have. I expect it will pick up a fair bit of interest during drilling.

Broxybear · Post by **Broxybear** » Sat Jun 14, 2014 3:49 pm

ozzys are saying there's been a reload of the bid 24/25c ?
Bounced of the 50ma backtest let's see what happens next few day;)

Broxybear · Post by **Broxybear** » Sun Jun 15, 2014 8:46 am

She's ready boys

http://laspalmastrader.com/wp/category/offshore/

Diamond Don · Post by **Diamond Don** » Mon Jun 16, 2014 12:20 pm

Good find Broxy, whoever LasPalmasTrader is!

Buying pressure today as expected, I was fairly confident buying Friday would be better than today/tomorrow. I'll take a quick 20% today on that last batch of stock and keep the core holding for now at a reduced average.

cheers
DD

Broxybear · Post by **Broxybear** » Mon Jun 16, 2014 9:16 pm

Well done don I'm holding reckon this will run hard and fast soon. Still low mk when you look at others that's drilled.anyway gl pal.

Oh who else you looking at?

Diamond Don · Post by **Diamond Don** » Mon Jun 16, 2014 9:40 pm

Broxy
I've gone semi-Sophisticated, I have cash tied up in an off-market NS-oiler venture, but for AIM profits I'm only looking for reentry points into Xcite and Gulf, not yet reached my guesstimate and with Gulf it may never, but I am hopeful.

I've also diverted funds into a long term managed income portfolio, part of my overall risk reduction strategy!

How about you, anything worth looking at?

Cheers
DD

Broxybear · Post by **Broxybear** » Tue Jun 17, 2014 6:30 am

Hur hurricane I'm watching there's a big seller tho,should be good once there done results couple of weeks.

Noodles · Post by **Noodles** » Thu Jun 19, 2014 10:44 am

I think we're going to see a nice run here very soon!

Diamond Don · Post by **Diamond Don** » Thu Jun 19, 2014 11:47 am

Agreed, once the bit breaks the surface we'll see some excitement push the price up.

Diamond Don · Post by **Diamond Don** » Thu Jun 26, 2014 1:11 pm

26 June 2014

TANGIERS PETROLEUM LIMITED

Drilling Commences at TAO-1 Well

Tangiers Petroleum Limited (ASX: TPT; AIM: TPET) ("Tangiers" or the "Company")
is pleased to advise that the Ralph Coffman jack-up rig commenced drilling
operations at the TAO-1 exploration well, offshore Morocco on the 26th June
2014.

The TAO-1 well is located within a proven petroleum system, adjacent to the Cap
Juby heavy oil discovery and has been designed to test up to three stacked
objectives, Assaka (Upper Jurassic), Trident (Middle Jurassic) and TMA (Lower
Jurassic, contingent upon success at Trident/Assaka).

The secondary objective, Assaka, and the main objective at Trident are
scheduled to be intersected within approximately 2 months. Contingent upon the
results at Assaka and Trident, the Joint Venture will then make a decision to
deepen to the TMA objective. The well plan does not include flow testing.

The Company expects to make additional updates as appropriate during the course
of the drilling.

Tangiers has a 25 per cent participating interest in the Tarfaya Offshore
Block, which is being operated by Galp Energia with a 50 per cent interest. The
remaining 25 percent interest is held by ONHYM (Morocco's National Office of
Hydrocarbons and Mines), which is carried through the exploration phase.

Tangiers' Managing Director Dave Wall said "The spud of the TAO-1 represents a
significant milestone for Tangiers and is the culmination of a process that
began with licence award in 2009. The Company would like to thank shareholders
for their continued support and appreciates that many have been involved since
that time. We believe that we have one of the best exploration prospects to be
drilled by a junior explorer in recent times and look forward to sharing the
results of the drilling program in the near future."

About Tangiers Petroleum: Tangiers Petroleum is an Australian-based oil
explorer with assets offshore Morocco in shallow water. The Company is
scheduled to spud the high impact TAO-1 exploration well in mid-late June,
targeting best estimate net resource potential of 190mmbbl* of oil (gross
758mmbbl, TPT 25%).

Cautionary Statement: The estimated quantities of petroleum that may be
potentially recovered by the application of a future development project relate
to undiscovered accumulations. These estimates have both an associated risk of
discovery and a risk of development. Further exploration, appraisal and
evaluation is required to determine the existence of a significant quantity of
potentially movable hydrocarbons.

* Independently certified by NSAI as at 1 May 2011 - see NSAI Assessment of
Prospective Oil Resources, market announcement dated 27 May 2011.

The information in this announcement relating to estimates of prospective
resources is based on, and fairly represents, information and supporting
documentation prepared by, or under the supervision of, Mr Brent Villemarette.
Mr Villemarette is a full time employee of the Company with over 30 years
experience and is a member of the Society of Petroleum Engineers. Mr
Villemarette consents to the release of the information in this announcement
relating to estimates of prospective resources in the form and context in which
it appears. The estimates of prospective resources referred to in this
announcement are reported as at 1 May 2011 and were prepared using a
combination of the probabilistic and deterministic methods.

DAVE WALL
MANAGING DIRECTOR

Tangiers Petroleum Limited
Level 2, 5 Ord Street
West Perth WA 6005, Australia
Ph: + 61 8 9485 0990
www.tangierspetroleum.com

Noodles · Post by **Noodles** » Thu Jun 26, 2014 1:16 pm

Excellent.

What's your plan Don?

I'm expecting a pump of some sorts over the next few days and weeks followed by a raising of cash to secure the company in case of a duster. I think it's a given (much like RMP did) as it's high risk off-shore which is more $$$ than onshore for the next drill.

SP has responded well, it will be interesting to see where the SP finishes today and tomorrow as more often than not, a spud announcement usually results in a decline in SP.

Diamond Don · Post by **Diamond Don** » Thu Jun 26, 2014 1:57 pm

Yep expecting a pump, meantime not sure about direction today/tomorrow, same as you - expected a quick/short decline, but the price hasn't really topped out today, rather it's been bobbing about this level for a while now.
Depends how much coverage this gets, as to the hype related pump, but plan as always was to sell up to half at 20-ish pence, or as close as it gets, to leave me relatively risk free. I'm in no mood to gamble away too much these days.

Got your mail, will take a look there too. Cheers for that!

DD

Noodles · Post by **Noodles** » Fri Jun 27, 2014 10:59 am

Well, as expected from myself anyways, SP is down on spud announcement.

It will be interesting to see how it all plays out over the next few weeks.

It's certain imho that they will look to raise funds again over the next couple of weeks.
They have enough cash for this drill but they will need to be prudent and plan for the possibility (71%) of a duster.

I think many thought it was going to run into the low 30c range and that they could de-risk or sell out from there but the exercise of all those 16c options over the past couple of weeks has put a halt on the run.

I think it will go one of two ways,
1. With news of a rumour, the SP will run and the company will raise funds on the back of the rise.

2. The SP will stagnate around current levels 13p or lower and nervy over leveraged holders will start to de-risk and bring the SP down until news of a strike or a duster.

Any thoughts?

5