Tangiers relinquishes Queensland block to focus on African Growth Strategy
Tangiers Petroleum Limited (ASX: TPT) advises that it has withdrawn from ATP 587 and
relinquished its interest in this onshore Cooper-Eromanga Basin exploration permit in
The block was a legacy asset where exploration had not been advanced significantly.
The relinquishment is consistent with the Company’s previous announcements with
respect to ATP 587 and the Company’s strategy to focus on growth opportunities in
Tangiers is also progressing the farmouts of its Moroccan and Australian offshore
These measures, combined with the recent capital raisings, are aimed at enabling the
Company to step-up its search and analysis of onshore and shallow water acquisition
and farm-in opportunities in Africa.
Looking good. Management are sticking to their plans. Should have the Moroccan block's 3D out by the end of the week and maybe even a farm-out if the 3D is the final key to unlocking the best possible deal. Charts are looking great from what I can see. Great support with high volume, can only see this going up (of course with the dips in between).
I agree and bought in based on the great volume coming in. Has been moving very well to date (except today) and enjoying the return of strength and interest. I looked at TPT as I had also been investigating PVD which is in Morocco. Both these have excellent prospects which are yet to be done justice with farm-ins and a commencement of serious on site work.
Looking forward to the drilling.
The last few days is fitting well with the trend. A bit of a pull-back after the jump before going at it again which has been happening each time and that is a good sign to me. Topped up today because my bet is we get news early next week. London is already on the rise at 29p which is about 44c. Sounds bullish, but my prediction is around $2 - 3 before drill results are announced. The team are in London and that sounds like good news to me!
Let's see it clear the 70c long term level first that would be a large move in itself and the most likely initial target for a decent bit of news flow leading into drilling.
Anyone looking at this stock? Thinking Long term ofcourse.
Currently at 0.20, and will soon for drilling mid next year.. Ive been reading up on It and have only heard good/hopeful things..