Tangiers Petroleum - Spice Up Your Life - 500 Beiträge pro Seite

[Jon_Schnee]

Ticker TPT/TPET

6 June 2014

Market cap (A$m/£m) 65/34
Estimated cash (US$m) 20


Shares in issue:

Basic (m) 231
Fully diluted (m) 259

[Jon_Schnee]

Antwort auf Beitrag Nr.: 47.190.504 von Jon_Schnee am 22.06.14 14:33:14

Laut Research Bericht von RFC Ambrian Limited:

- 21% Change auf Erfolg TAO-1 (Bohrung)

- Kursziel siehe letzter Abschnitt -> von 0.01 AUD über 0.87 AUD bis hin zu 3.31 AUD -> Aktuell 0.27 AUD

- Bohrstart sollte noch in diesem Monat erfolgen.

Homepage: http://www.tangierspetroleum.com.au/


Auszug aus Research Bericht:

http://www.tangierspetroleum.com.au/wp-content/uploads/2014/…

Tangiers Petroleum is a junior oil and gas explorer focused on
Africa. It has a 25% stake in the Tarfaya licence, offshore Morocco,
where the TAO-1 well is due to spud within a month.


We believe that the main catalyst for the stock will be the
TAO-1 exploration well. The farm-in to the Tarfaya licence by Galp
was recently completed and we expect the TAO-1 well (in which Tangiers
has a free-carried 25% interest up to a US$33m cap) to spud around mid-
June. This well is targeting three large, stacked Jurassic reservoirs with a
combined gross P50 prospective resource of some 750MMbbl of oil.
According to operator Galp, the main prospect — Trident — has gross
prospective resource of 450MMbbl of oil and a 21% chance of success.


The Moroccan fiscal regime is extremely favourable, and we
believe that the market does not fully understand just how benign it is.
We estimate that for a 400MMbbl oil field development the NAV/bbl is
USS20/bbl, considerably above the rule-of-thumb US$10/bbl valuation
that seems to be put on oil discoveries by the market. Additionally,
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. 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.


We estimate that the current fair value of Tangiers’ shares is
A$0.87 (48.2p), which is about 3x above its A$0.28 (14.8p) price on 5
June 2014. Tangiers Petroleum is a high-risk, speculative investment. In
our ‘success’ scenario we estimate Tangiers’ shares could be worth
A$3.31 (182p) by end-2014, while in our ‘failure’ scenario we estimate
they could be worth just A$0.01 (0.7p) over the same timeframe.

[Jon_Schnee]

Antwort auf Beitrag Nr.: 47.190.504 von Jon_Schnee am 22.06.14 14:33:14

ProActiveInvestor UK:

http://www.proactiveinvestors.co.uk/companies/news/69237/tan…

[Jon_Schnee]

Es geht los.

Tangiers shares spike 12% as Morocco drilling begins
http://www.proactiveinvestors.co.uk/companies/news/69851/tan…


By Ian Lyall June 26 2014, 11:48am 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 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 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.”

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