PR Newswire
London, January 29
29 January 2015 TANGIERS PETROLEUM LIMITED Investor Presentation Tangiers Petroleum Limited (ASX: TPT; AIM: TPET) wishes to advise that a copy of the Company's latest Investor Presentation (February 2015) is available on the Company's website at www.tangierspetroleum.com.au. This presentation is to be used on the Project Icewine Roadshow to be undertaken in February, and key investment highlights noted include the following: Objective: Compelling oil play with unique logistics, market access, & fiscal incentives * 99,360 acres onshore North Slope, Alaska with 10 year lease term & 16.5% royalty * Formal Lease award by the State of Alaska 1H 2015 following payment of US$2.98m consideration * Two world class objectives in the kitchen of North America's largest oil field * + Unconventional: 492 MMBO estimated recoverable (gross mean unrisked)* + Conventional: 4.0 BBO undiscovered potential (North Slope Platform AU, USGS 2013) * Both plays are IRR positive at current oil prices based on in-house modelling * Tangiers operates the JV with originating-partner Burgundy Xploration (BEX), Houston Why NOW? * Globally unique risk/reward due to 75-85% E&D CASH rebate from the State * Depressed oil / share price creates bottom of cycle entry and maximises potential returns * Catalysts * + Near term peer drilling on adjacent acreage programmed for 1H15 + Oil price rebound over 6-18 months - quality companies will rise higher /faster + Possible farm-out driven by project quality and attractive rebates *Cautionary Statement: The estimated quantities of petroleum that may be potentially recovered by the application of a future development project relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation are required to determine the existence of a significant quantity of potentially movable hydrocarbons. Prospective Resource assessments in this release were estimated using probabilistic methods in accordance with SPE-PRMS standards. *Source: DeGolyer & MacNaughton, Independent Prospective Resources Report as of December 31, 2014 Pursuant to the requirements of the ASX Listing Rules Chapter 5 the technical information and resource reporting contained in this presentation was prepared by, or under the supervision of, Mr Brent Villemarette, who is a Non Executive Director of the Company. It has been produced for the Company, and at its request, for adoption by the Directors. Mr Villemarette has more than 30 years experience in the petroleum industry and is a qualified Reservoir Engineer who has sufficient experience that is relevant to the style and nature of the oil prospects under consideration and to the activities discussed in this document. He has consented to the inclusion of the petroleum prospective resource estimates prepared by DeGolyer & MacNaughton (as of 31 December 2014) and supporting information being included in this announcement in the form and context in which they are presented. His academic qualifications and industry memberships appear on the Company's website and both comply with the criteria for "Competence" under clauses 18-21 of the Valmin Code 2005. Terminology and standards adopted by the Society of Petroleum Engineers "Petroleum Resources Management System" have been applied in producing this document. SARAH SMITH Joint Company Secretary Tangiers Petroleum Limited Level 2, 5 Ord Street West Perth WA 6005, Australia Ph: +61 8 9485 0990 www.tangierspetroleum.com Australia Tangiers Petroleum Limited Level 2, 5 Ord Street West Perth WA 6005, Australia Ph: + 61 8 9485 0990 www.tangierspetroleum.com Hartleys Ltd As Corporate Advisor Mr Dale Bryan + 61 8 9268 2829 United Kingdom RFC Ambrian Limited As Nominated Adviser Mr Oliver Morse / Ms Trinity McIntyre +61 8 9480 2500 As Corporate Broker Mr Charlie Cryer +44 20 3440 6800
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