Member Info for stew200

Thanks all is not over but we still got to wait till 6th sept.lets hope the management will put out a plan to encourage the share price

http://bit.ly/1hAMc5m It's a scoop it website and really do not know how valid it is. Any comments would be interested.

Shares in the Aim tiddler Tangiers Petroleum (TPET)tumbled over 75 per cent to 2.4p before being suspended from trading. Tangiers earlier revealed its only planned exploration well, TAO-1, offshore Morocco, which was targeting a whopping 750m barrels of oil-equivalent, failed to find either hydrocarbons or reservoir-quality rock. Tangiers at 30p in late 2012 in anticipation that the company would bring in a partner to pay for the associated well costs. It did - Portugal's Galp Energia farmed in to the licence and paid for most of them - but we dramatically underestimated the downside risks involved in such speculative exploration. We now understand Tangiers is in talks with institutions and are looking at raising cash at circa 10p for an investment in Independent Resources (LON:IRG) prospect in Tunisia which has a potentially significant time in Tunisia. In the coming weeks and months, IRG is set for a series of important catalysts which will transform it.

Is there a time scale ??? Thanks

And that mkp is very very small. So when they do resume trading can't see much downside whatever happens. The mkp is just over 5m lol. Lets see what the plans are and what cash left. Could be much better than most think

What are you suggesting?? "I must admit, I do find it very strange that they would risk the entire company on basically a wildcat drill with a less than 20% cos."

From a poster on advfn: www.cenkos.com 37 While expansion will require investment in S,G&A, the existing platform is a scalable one and could potentially drive EBITDA margins towards 40%. This would imply that $100m of revenue drops through to $40m of EBITDA take the cash out, the pe could be 1 or 2 !!!!! FInd another company with this kind of growth, on a PE of 1 or 2 if they deliver on plans, with 70m cash and which also pay a 4% dividend!!!!!!!

Someone did day yesterday??

Yes and no doubt with an update just hope the update ain't to bad and they have some cash left. What would be good is a plan for the next few months / years

More to come tomorrow I would say big demand from the market makers towards close suggest an imminent surge upwards in price tomorrow

cant buy any under the offer of 47.5p now always a sign of big move.

could be about to break 50p any minute soon

can you post the article mentioning possible J.V. cant seem to access the link on work computer. Thanks

What's that got to do with TPET

Could see some huge gains here as the mkp is very tiny. 80p target this week once momentum gets underway

Could well be better than most think. Its all speculation so far and if there isn't any cost over run.

such a tiny mkp based on huge potential.

PET were free-carried for the costs up to US$33 million, then paying a 33% share of costs past that. The Ralph Coffman rig was US$275,000 per day - if we say fifty days total so as to include setup and demobilisation then that's US$13,750,000 - which leaves US$19,250,000 to cover other costs - support boats, drilling mud etc etc - that should be enough. TPT's net cash at June 30th was A$14,625,000. There is US$7,500,000/= approx. A$7,936,500 to come from Galp. Capital raised from options converted after 30th June = A$532,800 Gives a total of $23,094,300 or about 9.2 cents per share or 5.1 pence per share

all the way back to square one. This mkp is literally miniscule compared to what we should be trading at.

They have over 5p share value in cash. They are obviously planning for future drills. Sound like Tpet does have a future