Post on 04-Apr-2020
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Disclaimer
All statements in this presentation have been prepared on the basis of a number of assumptions which may prove incorrect and thecurrent intentions, plans, expectations and beliefs about future events and are subject to risks, uncertainties and other factors, many ofwhich are outside Tangiers Petroleum Limited’s (“TPT”) control. Important factors that could cause actual results to differ materiallyfrom the assumptions or expectations expressed or implied in this presentation include known and unknown risks. Plans, expectationsand beliefs could therefore vary materially and you are urged to view all statements contained in this presentation with caution. Thispresentation should not be relied upon as a recommendation or forecast by TPT, its directors, or consultants. Nothing in thispresentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities in any jurisdiction.
This presentation is not intended to provide the sole basis of any investment decision or other evaluation. Each recipient hereofcontemplating an investment in the securities of TPT shall make, or shall be deemed to have made, their own independentinvestigation of TPT and related documentation and their own appraisals of the prospects and merits of the Company and its assetsdescribed herein.
All forecasts, facts, information, estimates and other statements of opinion contained in this presentation have been prepared solely by,or on the basis of, information supplied to TPT. While the information contained herein is believed to be true and accurate, weexpressly disclaim any and all liability for representations or warranties, expressed or implied, contained herein, or in any other writtenor oral communications transmitted or made available to any prospective investor.
No representation or warranty is made by TPT that forecasts, projections, business goals or estimates contained herein will beachieved. This presentation speaks as of the date hereof.
The information in this Presentation was produced by Mr Brent Villemarette who is an Executive Director, of Tangiers PetroleumLimited. It has been produced for the Tangiers Petroleum Limited (the “Company”), and at its request, for adoption by the Directors. MrVillemarette has sufficient experience that is relevant to the style and nature of oil prospects under consideration, and to the activitiesdiscussed, in this document. His academic qualifications and industry memberships appear on the Company’s website and bothcomply with the criteria for “Competence” under clauses 18-21 0f the Valmin Code 2005. Terminology and standards adopted by theSociety of Petroleum Engineers “Petroleum Resources Management System” have been applied in producing this document.
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InvestmentHighlights Oil and Gas Exploration Company listed
on the ASX with activities in North Africaand Australia
Diversified suite of high impactexploration assets
Significant equities in each asset
Multiple drill ready targets
Company making opportunity in shallowwater offshore Morocco with multipletargets of billion barrel potential
Highly experienced board and team withdemonstrated public company success
Significant exploration activityplanned during 2011
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CorporateOverview
Directors
Mark Ceglinski Chairman
Brent Villemarette Executive Director
Graham Anderson Non-Executive Director
12 Month TPT Price ChartCode: TPT
Shares on Issue 82,028,594
Options (16 cents exercise) 45,164,297
Current Share Price $0.24
Market Cap $19.7m
Volume – Month Rolling 5.3m Shares
Month Rolling Price Range 19 – 26 cents
Cash on Hand $3.1m12 Month Crude Oil Price Chart
Source Iress
Source Iress
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TangiersProjects
A Balanced Portfolio
Geographical spread
Significant equities
Drill ready targets
Massive exploration upside
TarfayaoffshoreMorocco
Turtle/Barnett
ATP-587-P
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Why Morocco?
Northern extension to WestAfrican Oil fields Morocco is a net importer of
both oil and gas Morocco pays parity price for oil Morocco encourages foreign
investment Low country risk Good infrastructure
Excellent Fiscal TermsCorporate Tax 10 year holiday This holiday is on each
discoveryVAT (GST) Nil on exploration Nil on productionRoyalty Oil 10% Gas 5%
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Tarfaya will transformTangiers!
Very large exploration blockof 15,000km²
Under explored location, withonly 4 wells drilled (ie 1 wellper 3,750km²)
Established Infrastructure Secure title Extensive Data Base Advanced exploration plays Active petroleum system
within permits Experienced exploration team Participants:
- 75% TPT- 25% ONHYM (Government free
carried through exploration)
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Tarfaya PermitStatistics
The Tarfaya Offshore Block comprises of8 individual permits covering 15,000km²
Water depth generally less than 200 metres
Substantially underexplored
The block is on trend to the Cap Jubyfield which is 23 kilometres to the west
12,500km 2D seismic
580km² 3D seismic
Multiply play types
15 immediate prospects and leads, severaltargets with Bbboip + potential
Excellent work program
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TarfayaProspectivity
Multiple prospectsand leads
Multiple play types
Multiple objectives
Proven source rocks
Proven generation
Proven reservoir quality
Mature project with elephantsize structures and abundantHydrocarbon indications.
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PetroleumGeology
Geological model focussedon reef and shoal faciesat the shelf margin ofsuccessively stackedJurassic carbonateplatforms
Carbonate build-up (reef)facies has a distinctiveseismic response
Contains all the elementsnecessary for successfulhydrocarbon fields(source, trap, seal,migration, reservoir)
Combination structural andstratigraphic traps
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Regional Salt PiercementStructures Indentified
A number of saltpiercement featureshave been mappedin the region
– Cap Juby (West)
– Chinguetti[to the south]
– Northern licences
Seismic line ROCM98-10 through the MO-3 well location
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Extensive SeismicCoverage
The Tarfaya Basinhas an extensiveseismic grid.
12,500 km of 2DSeismic
580 km² of 3DSeismic
3D seismic coversone of the primaryprospects – La Dam
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Tarfaya ProjectSchedule
Project Start
QC Existing Seismic Data
Farm-Out Process
Award Farm-Out-La Dam
Reprocess 2D & 3D Seismic
Prospect Generation
Well Planning and Approvals
Drilling and Evaluation
La Dam
Acquire & Evaluate 3D Seismic
Prospect Generation/Lead Maturity
Farm-Out Process-Assaka\Trident\Marin A
Acquire & Evaluate 3D Seismic
Well planning & approval
Award Farm-Out
Drilling and Evaluation
Assaka / Trident / Marin - A
Lead Generation + Maturation
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Turtle / BarnettOil Fields
Turtle Oil Field discovered in 1984
Barnett Oil Field discovered in 1985
Significant upside
On test produced 792-920 BOPD (38° API)
Work Objectives
2011: Engineering Studies and Field Design
Reprocess Existing Seismic
Acquire 200km² 3D seismic overthe Turtle Oil Field
Secure farm in partner
2012: Two Exploration Wells
One each in the Turtle andBarnett oil fields
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Turtle-BarnettDeterministic STOIIP
0 5km
WA-442-P
NT – P81
Proven Oil ReservoirsTop Lower Treachery12 MMBO, potentially muchlarger if struct/strat pool
Top Keyling48 MMBO Top Lower Treachery
55 MMBO
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Turtle-BarnettDeterministic STOIIP
0 5km
WA - 442 - P
NT - P81
Potential ResourcesTop Kuriyippi23 MMBO
Top LowerTreachery,Point SpringsEach 19 MMBO
Basal Keyling12 MMBO
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ATP-587-P
Onshore southwest Queensland
Eromanga / Cooper / Adavale Basins
Several prospects mature for drilling
Irrigulla – bypassed pay
Company is currently soliciting farmin partners
Prospect P90 P50 P10 Mean
Potential Oilin Place mmbbl mmbbl mmbbl mmbbl
Irricullabasal Jurassic 3.5 12.8 34.6 16.4
Carella CreekSouth Evergreen 3.5 10.4 18 10.8
Carella CreekSouth Birkhead 1.0 2.0 3.2 2.0
Cattle Creekbasal Jurassic 0.9 2.7 8.6 3.9
Total Eromanga 8.9 27.9 64.4 33.1
Gas in Place BCF BCF BCF BCF
Braidwood Deep 320 575 950 610
ATP-587 Location
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IrricullaProspect
Well deviated Intersected well on low side of fault Recorded oil shows Structure not tested Plan to drill within closure PDT 1,800 Metres
Excellent chance forsuccess and Oilaccumulation in
upthrown fault block
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InvestmentDrivers
Geographically diversified portfolio high impact, highly, prospective permits
Material equities in all permits
Exposure to significant acreage in new frontiers prospective
Drill ready targets.
Significant exploration upside
Share price highly leveraged to exploration success
Excellent fiscal terms
Experienced team
Examining further opportunities in North Africa
Considering secondary AIM listing in 2011 to satisfy European investor interest
Tarfaya is a potential company maker
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Directors
Mr Mark CeglinskiChairman
Mr Ceglinski is a corporate finance executive and Company Director.
He is currently a Managing Director and Head of Corporate for CarmichaelCorporate Pty Ltd where he advises on Equity Capital Markets (primary andsecondary raisings), M&A, Debt and Strategy.
Prior to that he was Head of Corporate for a national Stockbroking Firm andhas previously been a Partner of International Accounting firms ArthurAndersen and Ernst & Young.
He has sat on numerous boards and is currently a Director of Red CatMinerals Ltd, and Swings & Roundabouts Ltd. Previous Directorshipsinclude Chairman of Cougar Metals NL, Peak Coal Limited and KempoMining Ltd. He is a member of the Institute of Chartered Accountants, TheAustralian Institute of Company Directors, FINSIA and is a MasterStockbroker with the Stockbrokers Association.
Mr Brent VillemaretteExecutive Director
Mr. Villemarette is a petroleum engineer with more than 29 years’experience in the oil and gas industry, both domestic and international. Hisexperience spans a wide range of disciplines including exploration,development, operations, marketing, acquisitions, and new ventures.
He is presently Operations Director for Latent Petroleum, a privatecompany co-founded with a small team of industry professionals activelyengaged in commercializing the large undeveloped Warro tight gas field inthe northern onshore Perth Basin.
Prior to that he held roles of International Reservoir Engineering Managerfor New Ventures with Apache Corporation based in Houston, Texas andReservoir Engineering Manager for Apache Energy Limited based in Perth
Mr Graham AndersonNon – Executive Director
Mr Graham Anderson is a graduate of Curtin University and has over 25years commercial experience as a Chartered Accountant. He operates hisown specialist accounting and management consultancy practise, providinga range of corporate advisory and audit services to both public andprivate companies. From 1990 to 1999 he was an audit partnerat Horwath Perth.
He is currently a Non-Executive Director of Dynasty Metals AustraliaLimited, Mako Energy Limited, Echo Resources Limited and PegasusMetals Limited. Graham is Company Secretary of Iron Road Limited,Elemental Minerals Limited, Bathurst Resources Limited and a number ofother ASX listed companies.
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CorporateInformation
Registered OfficeSuite 2, Mezzanine Floor35-37 Havelock StreetWest Perth WA 6005
Postal AddressPO Box 389West Perth WA 6005
Telephone: +61 8 9322 2700Facsimile: +61 8 9322 7211
Web: www.tangierspetroleum.com
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