PDA

View Full Version : TPT - Tangiers Petroleum



NZSilver
21-05-2014, 01:06 PM
http://www.nextoilrush.com/drilling-just-weeks-away-for-tiny-explorer-targeting-1-6-billion-barrels-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.

We are pleased to present the latest addition to our investment portfolio:



Tangiers Petroleum

ASX:TPT

AIM:TPET

Could be a worth while specy.... but expect to to loose it all if its a dry hole... anyone holding?

macduffy
21-05-2014, 02:38 PM
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…


Nothing modest about this company, it seems!

;)

JBmurc
21-05-2014, 03:15 PM
Have heard it all before .....hope for holders it turns out better than some of my Monster target micro-cap OIL&GAS explorers I,ve held over the years

winner69
21-05-2014, 03:54 PM
Finally somebody else interested in Morocco. Marketwinner likes most countries in the world but not Morocco for some reason

This could be a good one to join Marrakesh Express (ME) in the portfolio.

As the head honcho of ME once said "All aboard the train, all aboard the train, all aboard"

macduffy
21-05-2014, 04:16 PM
As the head honcho of ME once said "All aboard the train, all aboard the train, all aboard"





But make sure you get off before the drilling actually starts?

NZSilver
21-05-2014, 04:36 PM
But make sure you get off before the drilling actually starts?
Could be onto something - lock in some gains just in case it strikes bugger all. This is a one shot win big/lose all company - I dont think they have much else in the future.

macduffy
21-05-2014, 04:43 PM
Yes, "sell before spud" is a good strategy for hopeful oilies. Or so I have found!

:cool:

NZSilver
22-05-2014, 10:29 AM
Copied from HC

With drilling only 3 odd weeks away
A spike in volume in the last 2 days
Trading at a 15% discount on ASX compared to its
London listing tpet

Is tpt just slipping under the radar

it did rise 15% today


DJ Carmichael..BUY......1.70$, upside 8.00$
Old Park Lane...BUY......1.80$
Ambriam............BUY......1.21$, could go to 9.10$

Peel Hunt has a risk adjusted value of $918m or 5.60$/share.

Broker Cannacord Genuity has a risked valuation for Trident at $176 million this is more than five times the companies current market cap in dollars of $30 million.

Diggers and Drillers..BUY..at..21.5c
Beaufort Securities..BUY
Shares Mag...........BUY....at...27c
Faraday research..BUY..at...28c
Galvan research.....BUY..at..28c
Investors Chronicle BUY.at..28c
Next Oil Rush..........BUY.at..17c

The list is getting longer which augurs well for a pre drill multibagger.

NZSilver
22-05-2014, 11:18 AM
http://www.asx.com.au/asxpdf/20140522/pdf/42prxpr5gfw4pb.pdf

up 18.5% today on open

NZSilver
23-05-2014, 10:49 AM
Aim insight
May 22, 2014

Investors in Tangiers Petroleum 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.”

NZSilver
30-05-2014, 09:23 AM
Recently TPT raised another 4 million in placement to institutions - plenty of cash on hand (although burn rates can be high with oil exploration) Price still around 23 cents - hopefully SP is looking to move higher as rig gets into place and begins drilling.

With a MCap of 45 million - it is still a T/O target, but it is unlikely to occur before drilling begins late june.

NZSilver
03-06-2014, 01:19 PM
up another 12% to 32 cents this morning on the asx

NZSilver
10-06-2014, 02:19 PM
New investor presentation out today

www.asx.com.au/asxpdf/20140610/pdf/42q3hsmlkvlhk4.pdf (http://www.asx.com.au/asxpdf/20140610/pdf/42q3hsmlkvlhk4.pdf)

New broker report out several days ago

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

JBmurc
28-07-2014, 12:41 PM
TAO-1 Operational Update
Tangiers Petroleum Limited (ASX: TPT; AIM: TPET) (“Tangiers” or the “Company”) provides the following update on the TAO-1 exploration well located in the Tarfaya Offshore Block, Morocco.
The TAO-1 exploration well has intersected the shallowest and secondary objective, Assaka. Based on currently available information, no hydrocarbon shows have been encountered. A full petrophysical evaluation of the Assaka objective will be carried out at section TD.
Drilling operations continue as planned towards the primary and largest objective, Trident. The TAO-1 exploration well has been designed to test Trident at its optimal location. Tangiers’ interpret that success at Trident is not co-dependent on the results from Assaka.
The Company will provide additional updates as appropriate...

baller18
28-07-2014, 12:56 PM
took a punt, hopefully trident isn't a diaster

JBmurc
28-07-2014, 02:05 PM
took a punt, hopefully trident isn't a diaster

Yes brought a very small amount today .... no oil shows should well mean a tight seal on the upper jurassic and hopefully the middle jurassic should contain all the oil....

NZSilver
28-07-2014, 02:53 PM
Good on ya JB! hopefully no OXX

JBmurc
28-07-2014, 03:31 PM
Good on ya JB! hopefully no OXX

Yeah as to why I only brought 3900 shares ....very high risk ...certainly a large formation ...worth a punt at these lower levels ....

baller18
31-07-2014, 11:53 AM
oh my, oh my! Hold onto your aunties! Trading half...
20 bagger or lose it all...

baller18
31-07-2014, 11:55 AM
Assaka Target Depth 2700-2800m
Trident Target Depth 3000-3600m
TMA Target Depth 3900-4600m

Note how close the lower range of Assaka is and upper range of Trident is. At 60m per day this works out at 3.3 days real time.
Also account for the timezone differences in authorising and releasing the TAO-1 update for Assaka which would have been some time after they had actually reached it.

I'd say they have just cracked through Trident and noted something substantial, one way or the other.
Time will tell.

Taken from hotcopper.


Is this a duster? thoughts anyone?

JBmurc
31-07-2014, 01:08 PM
Trading halt ??


REQUEST FOR TRADING HALT
Tangiers Petroleum Limited (the “Company”) requests that the securities of the Company be placed in a trading halt as follows:
1. The trading halt has been requested pending an announcement by the Company in relation to the results from the TAO-1 exploration well;
2. The trading halt should be until the release of the announcement by the Company, expected to be no later than market open Monday 4 August 2014


Got a good feeling about this ann....they didn't go into Trading Halt on last ann of dry formation...could we have some good HC readings ....don't want to let it leak ??

JBmurc
31-07-2014, 07:30 PM
31 July 2014 01:39 GMT


Australia-listed Tangiers Petroleum has been placed in a trading halt in anticipation of an announcement regarding the Tao-1 exploration well offshore Morocco.
Tangiers made a request to the Australian Securities Exchange to have its shares placed in a halt until 4 August or until an announcement is made.
The company announced on Monday that the well intersected the shallowest and secondary objective, the Assaka formation, where it failed to find any hydrocarbon shows.
Operator Galp Energia announced it was going to carry out a full petrophysical evaluation of the objective on the Tarfaya Block and will continue drilling down to the next two objectives.
The Trident formation is the primary objective of the well, the success of which is not dependent on the results from the Assaka formation.
Tangiers managing director David Wall told Upstream the Trident formation was the largest of the three objectives.
He added that if the well was unsuccessful there was another drill-ready prospect on the Tarfaya offshore block where the current well is also located.
If Tao-1 is successful, first production from the block could start in about six years.
Wall said that if this well was successful it could be company-defining as a discovery in this area has the potential to tap into an infrastructure-ready market.
Galp earned a 50% stake in the Tarfaya Block by agreeing to spend US$41 million, including US$7.5 million in back costs, and fund the drilling of one well.
Following the completion of the farm-in Tangiers saw its interest reduced to 25% and Moroccan state oil company ONHYM holds the remaining 25% equity

baller18
31-07-2014, 08:30 PM
Do you think the results are for assaka or trident JB?

JBmurc
31-07-2014, 10:58 PM
I'd say they will be for trident ..maybe encountered oil shows and wants to keep a tight ship while they continue to drill and log the results
only got 8900 shares but if they have discovered a mother load I'll be stoked on the punt ....

JBmurc
04-08-2014, 10:02 AM
Not long to wait till we know good or bad it's going be very interesting day

NZSilver
04-08-2014, 11:57 AM
http://www.asx.com.au/asxpdf/20140804/pdf/01539653.pdf

JBmurc
04-08-2014, 12:07 PM
Yes looks like they need some more time you wouldn't think they would need the extra time if it's a duster more so if they have encountered HC shows and want to keep insiders out from trading shares .....need time to go over the core results before ann...?

baller18
04-08-2014, 12:15 PM
Yup, definitely do not need to be placed in a trading half then suspension if its a duster? it is looking real positive from here!!!

Not sure if you follow hotcopper or not JB, but a member on there called maximums called trading half a day or two before, and then he called TPT will most likely go into suspension on friday. He has been on hte money everytime...

JBmurc
04-08-2014, 01:19 PM
Yes Maximus's crystal ball is an open with ann this arvo upside price $8-10 ...........now thats what I call optimistic ....be fine by me I don't mind turing my $1400 into 70k

baller18
04-08-2014, 08:01 PM
lucky you didn't moosie! Its a duster! Shucks! there goes my punt... oh welll

JBmurc
04-08-2014, 08:22 PM
lucky you didn't moosie! Its a duster! Shucks! there goes my punt... oh welll

Yeah them's the brakes..always a high risk gamble might lose $300-$400 ...there was a guy on HC that had put all his money on it .....jeez bet he's feeling bit sick at the moment

baller18
04-08-2014, 08:45 PM
n david wall put 200k in it... hmmm...

JBmurc
05-08-2014, 12:03 PM
Well looking to exit my TPT gamble not looking like a pretty start might be better to sit back I see one poor bastard up trying to sell his 700,000 shares for peanuts ...if he paid 20c thats like 140k AUD and he's trying to get $1400 damm

JBmurc
05-08-2014, 12:11 PM
I'm out at 4c .......

NZSilver
05-08-2014, 12:39 PM
Shows over - good reminder never to invset large funds in spec oilers (really any spec stocks) - glad I only threw $800 at this, high risk high reward, so only risk a small investment in these stocks!

JBmurc
05-08-2014, 12:57 PM
I would have said wait for the bounce in a day or two but oh well!

Yeah some times you get the bounce not always ...for the amount of money invested it's only going be $20-$30 diff.....

I recalled when LRL re-listed after spitting assets into two companies one to be listed on the AIM the other ASX I did the numbers at best on the new ASX resource based company would be worth round 2c on a good day(most of the assets went into the AIM listed company) ......of course on last close the shares traded at 12c etc ......I spent round a hour constantly re-set sell order as the ASX doesn't let you move in too big of amount ended up selling the bulk off for 4.6c end of the day they finished at 2.8c weeks later they trade @ 1.2c now suspended ....

JBmurc
12-08-2014, 11:25 AM
Not looking good now 1 month suspension dispute between TPT and Galp...... sometimes it pays to take it on the nose and just get out with something>>>