Plant Health Care – “on track to achieve full year revenue expectations”… so why a share price slump?
Published 963 days ago
88 Energy (88E) was spawned from Tangiers Petroleum. As with many remakes they are often arguably never as good the second time around however 88 Energy appears to present some classic market mechanic traits of a firm about to do exceptionally well.
Published 1273 days ago
In today's podcast I start with oil stocks and oil prices and discuss why I would not touch any of them with a bargepole - particular mentions of Tangiers Petroleum, Falklands Oil & gas, Rockhopper, Igas, Northern Petroleum and the rampers of Mosman Oil & Gas. I then move onto Quindell discussing whether my 0p target is too low.
Published 1274 days ago
Sometimes we are lucky enough to come across an RNS, which is so outrageous it is just plain funny. This morning, the soon to be renamed Tangiers Petroleum (TPET) issued a corker. According to its “recently completed Independent Resource Report”, the company’s Icewine Project, in Alaska, could contain a potential gross mean unrisked 8billion barrels of oil in place. Better yet, Icewine has an estimated 41% “probability of geologic success”. For little old Tangiers, up 45.8% to 0.88p and valued at £4million, this sounds too good to be true. The reason for this is quite simple. It is because it almost certainly is.
Published 1390 days ago
I am indebted to reader DiscoStu for pointing out data from the LSE website showing what other stocks are held by investors in some of the companies I am less than kind about. It is sort of a Bulletin Board Moron nightmare portfolio. Why are these fools so attracted to POS stocks?
Published 1391 days ago
The reckless mismanagement of Tangiers Petroleum (TPET) has led to yet another shareholder wipeout. To be frank the writing has been on the wall for this dreadful stock for a while, but today’s shocking RNS announcement will do little to soothe badly burned shareholders. The company claims that the “final cost of the TAO-1 well was in excess of the Company's internal budget”. This is apparently why Tangiers is now in such a dire financial state and is being forced to relinquish its 25% stake in the Tarfaya Offshore Block, Morocco, as well as conduct a $1.2million placement at the equivalent of 0.324p (a 97.5% discount to the prevailing pre-duster price). The problem with this line of argument is that the costs of the TAO-1 exploration well came within the “plus or minus 25% variance” announced in the amended budget on April 28th. To add insult to injury, rather than explain why he bet the farm on a single wildcat exploration well, Managing Director David Wall instead believes the market owes him a second chance. It doesn’t.
Published 1446 days ago
I found Monday’s announcement from Tangiers Petroleum (TPET) a little strange. In announcing that the TAO-1 exploration well had intersected its secondary objective, Assaka, but had not encountered hydrocarbon shows “based on currently available information”, the board must have known what would happen to the share price. Predictably, it crashed c.40% over the following few days, to close at 7.13p yesterday. What was odd about this announcement is that the company voluntarily unleashed the dreaded duster phraseology on seemingly incomplete information. This morning, dual-listed Tangiers announced it had requested a trading halt on both ASX and AIM “due to pending results from the TAO-1 exploration well”. This now begs the question why Tangiers didn’t suspend its stock on Monday and wait until Tao-1 drill had reached the Assaka total depth?
Published 1470 days ago
So posted some utter moron in the comments section of this website at the weekend. In fact we get a post a week in that vein. I guess Bulletin Board Morons just do not get it so let me explain once again.
Published 1473 days ago
The AIM market finally seems to be showing some appetite for oil and gas stocks and I’d expect some of that to spread to Tangiers Petroleum (TPET). A lot has happened since I tipped this company here at 12p back in January, including the deal with Jacka Resources falling through, suspension of trading for a couple of months after the resignation of some of the board members, and the raising of $9 million through equity issues.
Published 1478 days ago
We tipped UK Oil & Gas (LSE:UKOG) on Hotstockrockets at a 0.9p offer on 16 June 2014. Two weeks later the stock is trading at 1.1p-1.2p. But the big gains are yet to come and will come soon. We expect to sell at 1.8p within five weeks.
Published 1481 days ago
I won’t name (and shame?!) him, but I had a recent chat with one of our contributors recently about the virtues or otherwise of buying into Tangiers Petroleum (TPET) as a trade on oil frenzy. My coverage of Tangiers hasn’t been exactly favourable and I’d have a very hard time buying such a stock without applying a clamp to my nose. However, for my unnamed colleague, Tangiers represents a tradeable buying opportunity. He could well be right and it will be interesting to watch the market’s response in the coming weeks to this news that drilling operations at the TAO-1 Well have started.
Published 1486 days ago
I had lunch yesterday in Bristol with an old pal from the oil industry. A few months ago his AIM listed company tied to raise a few hundred thousand pounds and boy was it hard work. The other day he raised well over a million quid and he said he could have done it twice over. Has anything changed with his company? Not really. This is just sentiment.
Published 1495 days ago
It is an immediate red flag for any stock listed on AIM, which holds its Annual General Meeting thousands of miles away. Irrespective of the nature of dual listings, companies on the London Stock Exchange should be directly accountable to British investors. Where shareholder approval is required, British investors should be given the opportunity to vote for or against proposals concerning the running of their companies. For God’s sake, this is the age of the Internet, so why should investors be expected to traipse all the way to the other end of the world, so they can take part in a show of hands vote in Perth, Western Australian? Funnily enough, speaking of Perth, this is exactly where Tangiers Petroleum (TPET) has just held its AGM, at which the board gained approved for approval for the company’s new and ludicrously generous Share Plan...
Published 1508 days ago
This is just par for the course on the AIM Cesspit – today’s less in how crony capitalism sees private investors shafted on a daily basis comes from the toerags at Independent Resources (IRG). This is just shocking.
Published 1508 days ago
This time the report is vaguely credible not the shocking lie-filled ramp Tangiers Petroleum (TPET) commissioned in Australia which we reported on HERE. Today’s paid for offering comes from Edison, the employer of star analyst and convicted felon Champagne Charlie Gibson. Sadly it is not the Hon Charles who has produced this report.
Published 1510 days ago
Where do you start with the new posterboy of the AIM Cesspit, Tangiers Petroleum (TPET) and news yesterday that it has increased its fundraise from A$5 million to A$9 million? The whole thing stinks
Published 1512 days ago
Even certain advisors to AIM and ASX listed Tangiers Petroleum (TPET) have started to call The Sheriff of Aim to express their concern as to the way it communicates with investors. Well hang on fellas, are your long suffering UK stockholders on the AIM Cesspit about to get another kick in the Gonads?
Published 1516 days ago
James Parter revealed some quite disgraceful ramping of shares in Tangiers Petroleum (TPET) yesterday. His analysis was superb and shows why an Australian website was publishing plain untruths about this dual listed company. I suggest reading his article here.
Published 1517 days ago
Today I wish to enlighten ShareProphets’ readers with the truth. Not all tipping websites out there are remotely interested in making you money. They are more interested in lining their own fat pockets. Here is a case study of an example from yesterday and why the culprit website is not to be trusted.
Published 1525 days ago
Starting today a new irregular feature on ShareProphets, we will begin to monitor company placements and fundraisings, bringing you all you need to know about this darker side of AIM. Today we look at Tangiers Petroleum (TPET), Motive Television (MTV) and Strategic Natural Resources (SNRP).