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Tangiers Petroleum Limited is an ASX and AIM listed exploration company which has a potentially world class oil asset located in Morocco and oil and gas permits in Australia.


+61 8 9485 0990
Level 2, 5 Ord Street, West Perth WA 6005, Australia.
Super Sector:
Oil & Gas Producers
Exploration & Production
EPIC / Symbols:
*subject to change and depends on individual circumstances.

Tangiers Petroleum RNS Press Releases

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Tangiers Petroleum Articles, News, and Media Files

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Tangiers Petroleum Related Media

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  • 15/05/2014

    Stocktube video - New Tangiers Petroleum boss explains why its Morocco well is not like the others

    There have been a few dusters offshore Morocco. But David Wall, the new managing director of Tangiers Petroleum (LON:TPET, ASX:TPT), explains what separates the company’s upcoming TAO-1 well from the pack.

    Wall says the disappointing well results may as well have been drilled “on the other side of the world” in terms of their relevance to TAO-1.

    He talks investors through the recent fundraising, which covers its share of the well costs, as well as the potential of the Tarfaya block in which Tangiers has a 25% working interest – unusually large for a company of its size.

Director dealings

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Date Director Trans Amount Type Price(p) Value (£) Holding %
20/10/14 D.J. Wall TAKE 4,166,667 ORD 0.40 16,667 5,229,166 N/A
20/10/14 G.H.S. Staley TAKE 4,166,667 ORD 0.40 16,667 4,166,667 N/A


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Date Type Turnover Profit EPS (p) Dividend (p) Currency
30/06/14 Interim 0.43 -2.14 -1.64 0.00 AUD
31/12/13 Full year 0.51 -6.89 -4.99 0.00 AUD
30/06/13 Interim 0.43 -2.14 -1.64 0.00 AUD
31/12/12 Full year 0.09 -4.77 -4.50 0.00 AUD
30/06/12 Interim 0.09 -4.98 -5.09 0.00 AUD

Company Statement

Our goal is to build an African focused exploration and production company that delivers material benefits to its shareholders and contributes to the development of the countries in which it works.


It will achieve this by building a portfolio of assets with a balance of low risk, moderate reward exploration, development or production opportunities and higher risk, large exploration potential in shallow water and onshore basins.


The opportunities the company will seek will be based on robust technical evaluation together with informed socio-political decisions and cultural sensitivity in business relationships.

Current Operations


  • Tarfaya Block, 8 shallow water, underexplored permits, located on the Moroccan Atlantic Margin
  • High impact exploration acreage with mature prospects
  • Four primary Jurassic carbonate prospects - Independently assessed P50 prospective resource of 867 million barrels of oil
  • Region on the brink of unprecedented exploration drilling activity
  • Preparation under way for exploration well in 1H 2014

  • Tangiers Petroleum 25%
  • ONHYM 25% (carried through exploration)
  • Galp Energia (50%) Operator


The Offshore Tarfaya Block is located on the Moroccan Atlantic margin and was acquired by Tangiers Petroleum in 2009. The Block comprises 8 contiguous permits covering an area of 11,281 sq km (approximately 2.8 million acres). The Block is located approximately 600 km southwest of Morocco’s capital Rabat, inboard of the Canary Islands on a shallow shelf with water depths generally under 200m.


The Tarfaya Block is located in an area with an already proven hydrocarbon system associated with a Jurassic carbonate fairway. The Cap Juby Field, in neighbouring acreage to the west, was discovered by Esso in 1968 and is to be appraised further by new operator Cairn Energy in 2013/14.

The Jurassic carbonate fairway has a direct link to its conjugate margin basin, offshore Nova Scotia, Canada where material discoveries have been made in analogous settings.

For more information please click here

  • WA 442-P, NT/P81 shallow contiguous permits located in the Bonaparte Gulf
  • Milligans Formation oil play leads - Independently assessed prospective resource of 218 MMbbl
  • Nova deep gas prospect  - Independently assessed mean prospective resource of 3.46 Tcf
  • 3D seismic acquisition planned to mature prospects for drilling

  • Tangiers Petroleum 90%
  • Ansbachall 10%


WA 442-P and NT/P81 are located offshore Northern Australia in shallow water depths of less than 60 m in the Bonaparte Gulf. These contiguous permits cover an area of 3900 sq km and are situated approximately 20 km off the Western Australian and Northern Territory coasts approximately 320 km southwest of Darwin. The permits include the undeveloped Turtle and Barnett oil discoveries and are situated southeast of the producing Blacktip gas field.

There are three play fairways recognised offering multiple play types comprising structural, stratigraphic and combination structural and stratigraphic leads and prospects:

  • Turtle and Barnett undeveloped oil discoveries and associated Messner and East Barnett oil leads
  • Milligans Formation oil leads
  • Nova Prospect, deep gas play

he shallow undeveloped Turtle and Barnett oil fields comprise multiple oil bearing reservoirs in Carboniferous to Permian aged clastic sediments. Three wells tested oil with Barnett-2 flowing up to 921 bbl/d on jet pump from the Early Permian. Turtle -2 and Barnett – 2 produced oil and gas from the Milligans Formation on drill stem tests which confirms the presence of an active working petroleum system in both WA 442-P and NT/P81.

For more information please click here


Mr Brent Villemarette - Executive Director

Mr Brent Villemarette is a petroleum engineer with more than 30 years experience in the oil and gas industry, both domestic and international.His experience spans a wide range of disciplines including exploration, development, operations, marketing, acquisitions and new ventures.  He is presently Chief Operations Officer for Transerv Energy, which has assets in the onshore Perth Basin in Western Australia and in Alberta Canada. He has previously been Operations Director for Latent Petroleum, a private oil and gas exploration company co-founded with a small team of industry professionals engaged in commercialising the Warro tight gas field in the northern Perth Basin. He has also held the roles of International Reservoir Engineering Manager for New Ventures with Apache Corporation based in Houston, Texas, Reservoir Engineering Manager for Apache Energy Limited based in Perth, and several senior engineering positions in the US with Apache Corporation and Oryx Energy (formerly Sun E&P).

Mr Michael Evans - Non-Executive Chairman

Mr Michael Evans ( Non-Executive Chairman, appointed 9 April 2014). Mr Michael Evans, a Chartered Accountant based in Perth, has extensive executive and board level experience with publicly listed companies in the natural resources sector spanning 30 years.

Michael was the founding Executive Chairman of ASX oil and gas explorer FAR Limited, a position he held from 1995 until his resignation in April 2012. Under Mr Evans’ stewardship, FAR established and built up an extensive international oil and gas portfolio spanning Africa, North America, China and Australia – with industry partners including Amoco, Shell, BHP, BP, Exxon, CNOOC, Woodside and Santos, amongst others. Mr Evans is currently the Non-Executive Chairman of ASX-listing TNG Limited.

Mr David Wall - Managing Director

As a leading oil and gas equity analyst for the past six and a half years, Mr Wall brings extensive experience with junior oil and gas companies, with a particular focus on Africa. His skillset spans asset evaluation across many fiscal regimes / play types as well as corporate advisory / M&A and equity capital markets, having led >$300m in capital raisings.

Prior to his career as an analyst, Mr Wall managed a small team at Woodside Petroleum Ltd that reported to the Executive Committee. This team was responsible for vetting reports from all departments within the business, prior to Board submission, including exploration, development, operations, commercial and M&A. The team was also responsible for generating the annual budget and providing significant input into the Five Year Plan and the Company Strategic Plan. By virtue of these experiences, Mr Wall brings strong commercial and strategic skills as well as generalist knowledge across all levels of the oil and gas industry. This is complemented by financial markets experience focussed on junior exploration companies, with specialist African knowledge. Mr Wall holds a Bachelor of Commerce from the University of Western Australia, majoring in Management and Finance.

Dr Stephen Staley - Non-Executive Director

Dr Stephen Staley ( Non-Executive Director, appointed 9 April 2014). Dr Stephen Staley has 30 years' of management and technical experience in the European, African and Asian oil, gas and power sectors, including with Conoco and BP.More recently Stephen was founding Managing Director of upstream start-ups Fastnet Oil & Gas plc and Independent Resources plc and a Non-Executive Director of Cove Energy plc.  He is a Fellow of the Geological Society, holds a BSc (Hons.) in Geophysics from Edinburgh University, a PhD in Petroleum Geology from Sheffield University and an MBA from Warwick University.

Major Shareholders

Please click here for further information

  • Additional Information
    AIM, ASX
    Share Price
    252.03 m
    Avg. Vol
    Mkt Cap
    £1.01 m
  • Latest Stocktube

    New Tangiers Petroleum boss explains why its Morocco well is not like the others

    View full size
  • Contact Information

    Registered Office & Principal Place of Business

    Level 2

    5 Ord Street

    West Perth WA 6005


    Tel: +61 (0)8 9485 0990

    Fax: +61 (0)8 9321 8990


    Postal Address

    PO Box 1674

    West Perth WA 6872


    Corporate Information



    Australian Broker

    Foster Stockbroking Pty Limited

    Level 21

    25 Bligh Street

    Sydney NSW 2000



    Share Registry

    Computershare Investor Services Pty Ltd

    Level 2

    45 St Georges Terrace

    Perth WA 6000


    Media Relations

    Read Corporate

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    Subiaco WA 6008




    Ernst & Young

    The Ernst & Young Building

    11 Mounts Bay Road

    Perth WA 6000




    Westpac Banking Corporation

    Level 6, 109 St Georges Terrace

    Perth WA 6000



    Joint Company Secretaries

    Mr Robert Dalton

    Ms Iva Stejskal

    Registered Office and Principal Place of Business

    Level 2, 5 Ord Street

    West Perth WA 6005


    Telephone: +61 (8) 9485 0990

    Facsimile: +61 (8) 9321 8990




    Nominated Adviser

    RFC Ambrian Limited

    Level 15, QV1 Building

    250 St Georges Terrace

    Perth WA 6000



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    Media Relations

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    Joint Brokers

    Shore Capital Stockbrokers Ltd

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