Project Icewine Presentation - February 2015

29 January 2015 TANGIERS PETROLEUM LIMITED Investor Presentation Tangiers Petroleum Limited (ASX: TPT; AIM: TPET) wishes to advise that a copyof the Company's latest Investor Presentation (February 2015) is available onthe Company's website at www.tangierspetroleum.com.au. This presentation is to be used on the Project Icewine Roadshow to beundertaken in February, and key investment highlights noted include thefollowing: Objective: Compelling oil play with unique logistics, market access, & fiscalincentives * 99,360 acres onshore North Slope, Alaska with 10 year lease term & 16.5% royalty * Formal Lease award by the State of Alaska 1H 2015 following payment of US$2.98m consideration * Two world class objectives in the kitchen of North America's largest oil field * + Unconventional: 492 MMBO estimated recoverable (gross mean unrisked)* + Conventional: 4.0 BBO undiscovered potential (North Slope Platform AU, USGS 2013) * Both plays are IRR positive at current oil prices based on in-house modelling * Tangiers operates the JV with originating-partner Burgundy Xploration (BEX), Houston Why NOW? * Globally unique risk/reward due to 75-85% E&D CASH rebate from the State * Depressed oil / share price creates bottom of cycle entry and maximises potential returns * Catalysts * + Near term peer drilling on adjacent acreage programmed for 1H15 + Oil price rebound over 6-18 months - quality companies will rise higher /faster + Possible farm-out driven by project quality and attractive rebates *Cautionary Statement: The estimated quantities of petroleum that may bepotentially recovered by the application of a future development project relateto undiscovered accumulations. These estimates have both an associated risk ofdiscovery and a risk of development. Further exploration, appraisal andevaluation are required to determine the existence of a significant quantity ofpotentially movable hydrocarbons. Prospective Resource assessments in thisrelease were estimated using probabilistic methods in accordance with SPE-PRMSstandards. *Source: DeGolyer & MacNaughton, Independent Prospective Resources Report as ofDecember 31, 2014 Pursuant to the requirements of the ASX Listing Rules Chapter 5 the technicalinformation and resource reporting contained in this presentation was preparedby, or under the supervision of, Mr Brent Villemarette, who is a Non ExecutiveDirector of the Company. It has been produced for the Company, and at itsrequest, for adoption by the Directors. Mr Villemarette has more than 30 yearsexperience in the petroleum industry and is a qualified Reservoir Engineer whohas sufficient experience that is relevant to the style and nature of the oilprospects under consideration and to the activities discussed in this document.He has consented to the inclusion of the petroleum prospective resourceestimates prepared by DeGolyer & MacNaughton (as of 31 December 2014) andsupporting information being included in this announcement in the form andcontext in which they are presented. His academic qualifications and industrymemberships appear on the Company's website and both comply with the criteriafor "Competence" under clauses 18-21 of the Valmin Code 2005. Terminology andstandards adopted by the Society of Petroleum Engineers "Petroleum ResourcesManagement System" have been applied in producing this document. SARAH SMITH Joint Company Secretary Tangiers Petroleum LimitedLevel 2, 5 Ord StreetWest Perth WA 6005, AustraliaPh: +61 8 9485 0990www.tangierspetroleum.com Australia Tangiers Petroleum LimitedLevel 2, 5 Ord StreetWest Perth WA 6005, AustraliaPh: + 61 8 9485 0990 www.tangierspetroleum.com Hartleys LtdAs Corporate AdvisorMr Dale Bryan+ 61 8 9268 2829 United Kingdom RFC Ambrian Limited As Nominated AdviserMr Oliver Morse / Ms Trinity McIntyre+61 8 9480 2500 As Corporate BrokerMr Charlie Cryer+44 20 3440 6800