TPT 0.00% 0.9¢ tangiers petroleum limited

$19/50% cos ... why not $6 before the drill?, page-6

  1. 154 Posts.
    From day 1 when I got it and the initial unproven estimates were coming in - I was working off a ballpark of 1,5bn to 2.0bn bbls
    Call it 1.7bn basis 3% total extractable oil =53mill bbl and assigned value of say $10/bbl gives you $530mill on 140mill shares = $3.78/share
    The potential quality here off-shore morocco must be over $100/bbl now in the market and the 3% figure is very very conservative from all the discussions I had with e&p guys

    But it's this immense upside potential that got me. Also one might be out massively on the calcs - if total extractable goes to 10% we talking $1.5bn firm or $10/share, so numbers are not inconceivable
    What i am sure of is we will either be at 5cents or multiples of dollars in 12-24 months
    My bet is the latter. Firm is too cheap and will be a takeover target if things start motoring.
 
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