Change of Director's Interest Notice - Clarification

16 June 2014 TANGIERS PETROLEUM LIMITED Change of Director's Interests Clarification Tangiers Petroleum Limited (ASX: TPT; AIM: TPET) ("Tangiers" or the "Company")advises that an amended version of the Change of Director's Interest Notice(3Y) provided for Mr David Wall, Managing Director, announced on Friday 13 June2014, has been released on the ASX today. The correction relates to the value /consideration of fully paid ordinary shares, which has been amended to A$0.29/share. Vesting conditions remain the same. David WallMANAGING DIRECTOR Tangiers Petroleum LimitedLevel 2, 5 Ord StreetWest Perth WA 6005, AustraliaPh: + 61 8 9485 0990www.tangierspetroleum.com Contacts RFC Ambrian Limited As Nominated AdviserMr Oliver Morse / Ms Trinity McIntyre+61 8 9480 2500 As Corporate BrokerMr Charlie Cryer+44 20 3440 6800 Mr Ed Portman (Media and Investor Relations - United Kingdom)Tavistock Communications+44 20 7920 3150 Appendix 3Y Change of Director's Interest Notice Information or documents not available now must be given to ASX as soon asavailable. Information and documents given to ASX become ASX's property and maybe made public. Introduced 30/09/01 Amended 01/01/11 Name of entity TANGIERS PETROLEUM LIMITEDABN 80 072 964 179 We (the entity) give ASX the following information under listing rule 3.19A.2and as agent for the director for the purposes of section 205G of theCorporations Act. Name of Director David James Wall Date of last notice 22 April 2014 Part 1 - Change of director's relevant interests in securities In the case of a trust, this includes interests in the trust made available bythe responsible entity of the trust Note: In the case of a company, interests which come within paragraph (i) ofthe definition of "notifiable interest of a director" should be disclosed inthis part. Direct or indirect interest Direct and indirect Nature of indirect interest D J Wall Super Fund(including registered holder)Note: Provide details of thecircumstances giving rise to therelevant interest. Date of change 12 June 2014 No. of securities held prior to change Nil Class A: Fully paid ordinary shares B: Fully paid ordinary shares Number acquired A: 4,500,000 B: 1,250,000 Number disposed Nil Value/Consideration A: $0.29Note: If consideration is non-cash, B: $0.16 per shareprovide details and estimated valuation No. of securities held after change Direct: 4,500,000 Fully paid ordinary shares (subject to vesting conditions) 1,062,500 Fully paid ordinary shares Indirect: 187,500 Fully paid ordinary shares Nature of change A: Issue of Securities at AGM of the Company on 12 June 2014 under TangiersExample: on-market trade, off-market Share Plantrade, exercise of options, issue ofsecurities under dividend reinvestment B: Placement Participationplan, participation in buy-back Part 2 - Change of director's interests in contracts Note: In the case of a company, interests which come within paragraph (ii) ofthe definition of "notifiable interest of a director" should be disclosed inthis part. Detail of contract n/a Nature of interest n/a Name of registered holder n/a(if issued securities) Date of change n/a No. and class of securities to n/awhich interest related prior tochangeNote: Details are only requiredfor a contract in relation towhich the interest has changed Interest acquired n/a Interest disposed n/a Value/Consideration n/aNote: If consideration isnon-cash, provide details andan estimated valuation Interest after change n/a Part 3 - +Closed period Were the interests in the securities or contracts n/adetailed above traded during a +closed periodwhere prior written clearance was required? If so, was prior written clearance provided to n/aallow the trade to proceed during this period? If prior written clearance was provided, on what n/adate was this provided?