27th Nov 2012 07:01
27 November 2012
TANGIERS PETROLEUM LIMITED TANGIERS RELINQUISHES QUEENSLAND BLOCK TO FOCUS ON AFRICAN GROWTH STRATEGY
Tangiers Petroleum Limited advises that it has withdrawn from ATP 587 and relinquished its interest in this onshore Cooper-Eromanga Basin exploration permit in Queensland, Australia.
The block was a legacy asset where exploration had not been advanced significantly. The relinquishment is consistent with the Company's previous announcements with respect to ATP 587 and the Company's strategy to focus on growth opportunities in Africa.
Tangiers is also progressing with the farmouts of its Moroccan and Australian offshore exploration permits.
These measures, combined with the recent capital raisings, are aimed at enabling the Company to step-up its search and analysis of onshore and shallow water acquisition and farm-in opportunities in Africa.
KRYSTEL KIROUJoint Company SecretaryTangiers Petroleum LimitedLevel 2, 5 Ord StreetWest Perth WA 6005, AustraliaPh: +61 8 9485 0990 www.tangierspetroleum.comContactsRFC Ambrian Limited (Nominated Adviser)Mr Stuart Laing+ 61 8 9480 2506Old Park Lane Capital PLC (Joint AIM Broker)Mr Michael ParnesMr Luca Tenuta+ 44 20 7493 8188Shore Capital Stockbrokers Ltd (Joint AIM Broker)Mr Jerry KeenMr Bidhi Bhoma+ 44 20 7408 4090
Mr Ed Portman (Media and Investor Relations - United Kingdom) Tavistock Communications +44 20 7920 3150
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