- 03 Feb 2012 08:36
- 03 Feb 2012 08:41
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Tangiers Petroleum's potential underlined by HB Markets; stock rated a speculative buy
Tuesday, 24 January 2012 – proactiveinvestors.co.uk (Web)
The current valuation of Tangiers Petroleum (ASX:TPT) could be a fraction of its true worth if indications from the company's independent competent person's report on the resources base turn out to be accurate.
This is the conclusion drawn by HB Markets, which initiated coverage of the Australian-listed oil and gas explorer with a speculative buy' recommendation ahead of its possible AIM listing next month.
Tangiers has two potentially company making assets – the Tarfaya oil block off the coast of Morocco – and highly prospective gas acreage off the coast of northern Australia.
Tarfaya has an un-risked prospective resource of 867 million barrels, with a high-end estimate of almost 5 billion.
In Australia, the company has discovered what it believes to be two huge gas finds Nova and Super Nova – sitting below already existing oil fields.
Based on work carried out by Schlumberger, Tangiers cites what it calls a "probabilistic estimate" of un-risked gas in place of 71 trillion cubic feet to 148 Tcf which makes the pair potentially huge on anyone's register.
"Tangiers Petroleum is in an early-stage of exploration and the risks that Tangiers does not find any commercially viable oil reserves are significant," said HB Markets analyst Donald Linderyd.
"However, if the indications from the CPR prove to be accurate, the current valuation of Tangiers Petroleum could be a fraction of its true value."
- 03 Feb 2012 11:22
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- 20 Feb 2012 16:00
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Markymar, I think many investors have. Looks a very good company.
- 22 Feb 2012 15:19
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Has been flying on the ASX, playing catch up here. UP 10%
- 03 Mar 2012 13:35
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- 30 Mar 2012 12:44
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ASX Trading Halt
30 March 2012
TANGIERS PETROLEUM LIMITED
Tangiers Petroleum Limited (the Company) wishes to advise that the securities
of the Company have been placed in a trading halt on the Australian Securities
Exchange ("ASX") pending an announcement in relation to project results.
It is expected that an announcement will be released prior to the commencement
of trading on Tuesday, 3 April 2012 and that trading in its securities will
then resume on the ASX. The Company's shares will continue to trade on AIM
during this period.
- 30 Mar 2012 12:47
- 21 of 473
At long last the share has come alive. Good buying today.