Tangiers Petrolium (TPT) Hot Potato for Q3 2014

Discussion in 'Stocks & Derivatives' started by GOLDPIRATE, Jun 20, 2014.

  1. GOLDPIRATE

    GOLDPIRATE New Member

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    Thought its high time to devote a thread to this little pearla of an oily :) It's certainly sent tongues wagging on more than a few forums here & esp' in the UK Tangiers is listed on their AIM exchange as TPET.

    Technicalities aside. Spudding any day now the first of 3 drillings planned for it's well, picked from 2009 acquired Morrocan acreage. 25% stake in returns.

    Bottom line. Results for the first drilling can be expected first week of July. Results for the 2nd drilling mid to 3rd week of July. If oil is found by then, no need for the 3rd drilling obviously @ this point. If oil isn't breached by 2nd drilling. The 3rd drilling will commence with time scale then being approx 50 days from spud. Of course, all speculative times @ this point but I thought this information is greater than what has been presented here up to now.

    I leave the technical jargon for others as it is easily googled & Tangiers has a few brief exert articles themselves on their site homepage worth a quick look. Some of the UK forums are keen on this company's current drilling program.

    P.S. big thanks to Caput Lupinum & House for the heads up on this lil' pearla of an oily ;) unless of course drilling fails then....damn you both haha :)

    Fingers crossed for the next few weeks. Sp up from here?
     
  2. GOLDPIRATE

    GOLDPIRATE New Member

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    To clear up for some, the 3 levels of drilling aka, 3 rock segments or types. The main drill (2nd level) Trident, is where they expect the mother load to be. This could be a month & half away from results & therefore, news.

    Then, itvhas been pointed out that they fully intend after all to complete drilling project in it's entirety (driil the 3rd level regardless of oil found in Trident) As one member on another forum has attested to. If the rig leaves less than 50 days from now. This would signal failure!

    Perhaps this is what we need to focus on with respect to shares? Just a suggestion ;)
     
  3. LovingtheSilver

    LovingtheSilver Active Member Silver Stacker

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    What's the hype with this one? Wells get spudded all the time. What makes then so convinced it will be a producer? Good luck for you guys invested and them if it is.
     
  4. GOLDPIRATE

    GOLDPIRATE New Member

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    Off to a good start for the week sp wise. Wonder if there'll be a trading halt closer to the spud result? Mind you. I'm sure they like the share buying volume going on in the interim....
     
  5. Caput Lupinum

    Caput Lupinum Active Member Silver Stacker

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    Hopefully there should be some form of annoucement come out on Friday or Monday in relation to the drill or so I'm told
     
  6. GOLDPIRATE

    GOLDPIRATE New Member

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    There has allegedly been some minor hold ups inc' bad weather affecting the unload of equipment. Safety issues.

    Apparently, all good now & yes we should @ least have the announcement by ends week that spud was successful.

    Later, given the first drill is successful, we move onto the second & biggest play Trident. That's the one I await eagerly ;)

    Still woulda thought sp would get a little more exciting as we draw closer to results. 23.5 is pretty pathetic. I did read that if it wasn't for the long trade halt & up/down incidents with the company & shareholders over the past months. A steady rise in sp over a more lengthy period would have resulted in higher sp this close to results, as happens normally in this environment. I'm not complaining therefore as I would've no doubt payed higher to enter. Still, would've thought 28-9 by now. 40 as we reach actual results in Aug? That still being undervalued considering resource expectation as other forums are speculating as high as 80 in this instance.....psychological basis @ least lol?

    If you consider SWE & the latest news of their capital merger being successfully accepted? Sp is above what TPT is selling @ today! Yes the inferred resource is larger but, not drilling until whatever time in 2015.....
     
  7. GOLDPIRATE

    GOLDPIRATE New Member

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    Oh F the appendix's for crying out loud! Whilst there unlisted capital grabbing continues, we'd apprecuate some news. At least whether they have spudded yet would be nice. Can't blame the current sp sentiment & lower volumes.

    If your holding peoples. Keep holding imo. If your getting fed up, as many are on other forums (mainly UK) just remember the scope of reward here. If you really aren't sure this late in the pre-spud news phase, put a stop loss in now but again imo, not too close to where we're at at present in case some more early big traders continue to sellout. You may regret the loss so early in th picture.

    Afaik, they have either spudded already (Galp are well known to not give spud news out early although, Tangiers will no doubt be pushing them to for shareholders sake). If they haven't spudded yet. It must be friggin close as management did state earlier this week that weather was hampering off loading of supply vessels & we were to expect news by weeks end.

    All the best my hardies. Strong hands ;)
     
  8. GOLDPIRATE

    GOLDPIRATE New Member

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    WE HAVE SPUDDED! RNS out!

    At least we're off & running yeeeaaahhh :)
     
  9. House

    House Administrator Staff Member

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    Stock price update? To the moon?
     
  10. Caput Lupinum

    Caput Lupinum Active Member Silver Stacker

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    Jumped about 15.6% on the LSE but has since retreated as profit takers move in
     
  11. centenario

    centenario New Member

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  12. GOLDPIRATE

    GOLDPIRATE New Member

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    If you want in, yes now is the time. Sp may still seesaw a bit though but ignore this. As Caput Lupinum points out, there will be profit taking for sure buy early enters.

    Remember. Once results are in & they are positive. You will have missed the boat! If you check back through charts even you'll see now is still a great entry level.....
     
  13. Caput Lupinum

    Caput Lupinum Active Member Silver Stacker

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  14. trew

    trew Active Member Silver Stacker

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  15. Caput Lupinum

    Caput Lupinum Active Member Silver Stacker

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    It's looking like to will probably sell off today so I would wait for a better entry price
     
  16. GOLDPIRATE

    GOLDPIRATE New Member

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    All I can honestly say right about now is.......F me!

    Strong hands gents ;)
     
  17. centenario

    centenario New Member

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    LOL

    thanks for sharing it seems like a nice challenge!
    I didn't manage to get my shares today, let's see how it goes on monday, you certainly need strong hands for this one, I think the risk can get nicely rewarded!
     
  18. Caput Lupinum

    Caput Lupinum Active Member Silver Stacker

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    The share price on the LSE for TPT is a good indicator as what to expect on the ASX. It sold off today on the LSE another 6.25% so I would expect it to sell off on the ASX on Monday.
     
  19. GOLDPIRATE

    GOLDPIRATE New Member

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    Few things to consider. When companies release shares after shares, the risk is dilution.

    The question now is. What can we expect when the blinkin shares are finally gobbled up? Supply & demand?

    Give it a week & we may see a very different sp. If you take your eyes off the sp long enough to see the volumes coming through. You may have a better picture of where we're headed from here.....hint.....you may see the volumes lower as the sp rises but then, closer to drill results, volume may pick up regardless?

    One thing extra I have come to agree with which appears to be overlooked perhaps by the majority @ least. While the main focus understandably is on the Trident prospect (even Tangiers has pushed this to the forefront) BUT, this is the 2nd, lower depth drill platform! What of Asaka? You know. The 1st drill level? Results are expected within 3 weeks. Maybe even 2! What of the sp if they have even oil shows yet alone really strike oil here? May wanna keep this in mind.....
     
  20. GOLDPIRATE

    GOLDPIRATE New Member

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    I'm editing this post since I've re evaluated the current, persistent low sp. Was intending to jump in harder due to floundering sp but I learnt early in the piece. Even though unlisted shares that are released @ comparatively lower price than public shares released. It still effectively dilutes the value on a per share basis! The company smiles @ the revenue of the new shares & it no doubt results in sp staying lower than would be if share numbers stayed the same. Even if only psychologically.

    Bottom line. Capitol grabbing via new share volume releases dilute the ESP! What annoys me with TPT with respect to this is they emphatically stated to share holders that their part of the drill expenses that needs to be paid once drilling completes, has been "fully funded" already, weeks back. So, why the last minute Capitol grab? I'm not talking a few shares released either. Try over 48M!!! That's ordinary listed shares mind you split between 29c & 16c. With just over 10M unlisted shares between 16c & 42c. Annoying as hell! If this was a goldie & mind you I know one in particular that pumps out new share release volumes left right & centre, I would stay clear of unless they have good reason to desire more Capitol this way.



    Furthermore, back in 27th May. TPT released news stating they had the funds now via secondary share release to cover for drilling, noting their concern (laughable imo) for share dilution to shareholders. Ok. So come June, they release tons more shares what, before spud even? Im rethinking going in harder now knowing the black glitter of this particular miner has lost a little sheen for me.....
     

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