Tangiers Share Discussion Threads

[philjeans] 19/2/2015 14:17

Funded through to multiple drill programme AND State of Alaska agreed to refund up to 85% of costs!

PLUS massive exploration on adjoining site (only two miles from their acreage) with results due within weeks!

See the full prospectus for full details on their web=-site.

Excellent prospects for pennies!

[overthebridge] 19/2/2015 12:15

Flying now

[kirk 6] 19/2/2015 12:10

Looking excpetionally strong at the moment cant buy 5k even.

[goldieshotz] 19/2/2015 11:24

Are they fully funded though? How are they going to pay for seismic and drilling?

[philjeans] 19/2/2015 10:42

From yesterday's RNS;

Three directors of Tangiers, David Wall, Michael Evans and Stephen Staley
participated in the Placement (with shareholder approval received for this at
the Company's General Meeting on 12 February 2015) on exactly the same terms
as all other investors. The changes in their interests in Tangiers' securities
as a result of this is as below:

Director Previous New securities Current interest
interest issued
Shares Options Shares Options Shares Options
David Wall 9,916,666 - 4,250,000 1,416,667 14,166,666 1,416,667
Michael Evans 5,166,667 1,000,000 4,250,000 1,416,667 9,416,667 2,416,667
Stephen Staley 4,166,667 2,000,000 1,650,000 550,000 5,816,667 2,550,000

Further details of the above current interests (including direct and indirect
holdings and full option details) will be released in subsequent ASX Appendix
3Y announcements shortly.

Commenting on the success of the Placement, Tangiers Managing Director Dave
Wall stated, "The strong support for the Placement speaks volumes to the
quality of Project Icewine, and is a recognition of the outstanding upside
potential that the project offers for investors. Project Icewine benefits from
a unique combination of conventional and unconventional potential, along with
generous rebates offered by the State of Alaska. We look forward to completing
the acquisition of the Project with funds raised from this Placement as well
as progressing exploration."

"Planning and permitting for the drilling of our first well and acquisition of
3D seismic is already underway and we will be providing updates to the market
on progress in the very near term. In addition to increasing operational
activity over the coming months, the Company continues to progress strong
early interest in Project Icewine from a number of potential funding partners
and we hope to be able to provide news on that front later this year."

"The Board of Tangiers welcomes our new shareholders, and we thank our
existing shareholders for their ongoing support."

[philjeans] 19/2/2015 09:06

Yes - prospects look very promising - for pocket money!

M/C still under £3M!

Blue sky yonder.

[overthebridge] 19/2/2015 08:11

On the move again

[kirk 6] 18/2/2015 19:05

Surprised these aren't a lot higher today. Now fully funded and snapped up by institutions!!! Definitely due a re-rating soon

[markymanc] 18/2/2015 17:08

Great post Phill

[philjeans] 18/2/2015 15:34

Thanks OTB - I've copied out the salient bits below as I think it's so important to new posters/investors.

From Oil Barrel - 23/1/15

8 Billion Barrel Resource Potential Confirmed


Eight is a very lucky number in China – and Tangiers Petroleum (ASX:TPT, AIM:TPET) is starting to come up with 8s all over the place.

It’s going to ask shareholders in the next few weeks to approve a name change to 88 Energy Ltd and it’s just been handed an Independent Resource Report identifying potential oil in place of 8 billion barrels at it’s Project Icewine (gross mean unrisked) in Alaska’s North Slope.

The same report also indicates recoverable oil potential of 492 million barrels (gross mean unrisked)…

These figures were conservatively evaluated by considering just 44% of the total project acreage for unconventional resources – appropriate given the early stage nature of the Project, however we see significant upside potential here if the entire project area is considered, the shale recovery factor is higher than first thought, or a shallower, conventional play works out.

Does the North Slope of Alaska have the right elements to become the next big thing in unconventional liquids-rich shale plays?

Tangier’s project partner, BURGUNDY Xploration, Inc., and it’s billion-barrel oil-finding principal, Paul Basinski, sure think so.

Basinski believes the “HRZ Shale” has the key ingredients that make the best shale plays “tic”. If anyone might know its Basinski – he spearheaded ConocoPhillips early mover advantage in Eagle Ford shale, and led them to acquiring ~320,000 acres in the sweet spot of the play at rock bottom prices.

Unique geological circumstances appear to have led to the formation of a higher-than-normal porosity and net shale pay, leading to a resource concentration that appears to be higher than the Eagle Ford, Bakken, Marcellus and Utica plays…

Meanwhile various companies are pouring tens of millions of dollars of exploration investment into a shallow conventional target on the North Slope. Owing to the significant sums invested and the potential for multi-million barrel finds, it’s the hottest play on the North Slope right now.

Regional studies and offset wells strongly indicate that this play may be present on TANGIERS acreage…

TANGIERS’ immediate neighbour, Great Bear, is about to start drilling the first of up to three high impact wells for this conventional prize based on their latest 3D seismic survey results – one proposed well location is one and a half miles from TANGIERS’ boundary…

Positive results from Great Bear are likely to have an immediate impact on TANGIERS’ valuation – currently with a humble market cap of less than $6M AUD at last market close on the ASX (and less than £3M at last market close on the AIM).

With an 87.5% working interest on 99,360 continuous acres in the prolific North Slope – and a slew of nearby drilling events to come in 2015, surely the attention of potential farm-in partners is starting to focus on TANGIERS…

TANGIERS is building up to a phased coring and drilling event in 2015/16 and plans to initially spend $2.1M (£1.1M).

The company will need to raise funds to carry out this work – and at its upcoming Extraordinary General Meeting its going to set in motion plans to raise up to $6M AUD (£3.2M) of capital and hopefully put the company on a path back to good fortune.

Are lucky 8s in store for TANGIERS?

TPT_UA4_010

Tangiers Petroleum

ASX:TPT

AIM:TPET

[overthebridge] 18/2/2015 14:08

I reckon this will be 1p very soon in demand

[philjeans] 18/2/2015 13:19

Certainly in demand now and stock tight.

Bargain down here; very good chance they'll have a successful drill.

Instis are in and it's going back up.

BUY for me.

[overthebridge] 18/2/2015 10:39

Can't buy a share

[kirk 6] 18/2/2015 08:14

great news today over subscribed and all insitiationl investors.

[kirk 6] 16/2/2015 17:19

Can't take any action it's for institutions only

[westmoreland lad] 16/2/2015 15:46

The transaction terms are as follows:

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600,000,000 shares at an issue price of A$0.01 (~0.50p) per share to raise up to A$6 million with a listed one for two (1:2) free attaching option (exercisable at A$0.02 each and expiring 3 years from the date of issue). The options are ASX listed only.

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The transaction is valued at 0.375p per share which includes the value of the option. This is a 25% discount to the current share price.

[stockriser] 16/2/2015 08:42

0835hrs

TIDMTPET

16 February 2015

TANGIERS PETROLEUM LIMITED

Prospectus

Tangiers Petroleum Limited (ASX: TPT; AIM: TPET) ("Tangiers" or "the Company")
would like to advise that it has lodged a Prospectus for the offer of up to
600,000,000 new shares ("Shares") at an issue price of A$0.01 per Share to
raise up to A$6,000,000, with a minimum subscription of A$3,500,000, together
with one (1) free attaching listed Option (exercisable at A$0.02 each and
expiring 3 years from the date of issue) for every two (2) Shares subscribed
for (the "Offer").

The Company reserves the right to accept oversubscriptions of up to a further
91,319,338 Shares at an issue price of A$0.01 per Share to raise up to a
further A$913,193, together with one (1) free attaching listed Option
(exercisable at A$0.02 each and expiring 3 years from the date of issue) for
every two (2) Shares subscribed for. The maximum amount that may be raised
under the Offer is therefore A$6,913,193 before the costs of the Offer.

[oilretire] 16/2/2015 07:36

It's 0.5p the offer is at.

Attached options (you get 1 for every 2 offer shares bought) are 1p which expire after 3 years.

That's if I'm reading it correctly

[kirk 6] 16/2/2015 07:31

Why would you want to but shares at 1p when the offer on Friday was 0.6

[kirk 6] 16/2/2015 07:29

Can PI's take the placing up

[oilretire] 16/2/2015 07:23

Placing at 0.5p plus 1 option for every 2 at 1p

[proactivest] 06/2/2015 09:07

Studio interview with dave and Burgundy's Paul Basinski: