logo-loader

Tangiers Petroleum drops Australian legacy asset

Last updated: 17:59 27 Nov 2012 AEDT, First published: 18:59 27 Nov 2012 AEDT

no_picture_pai

 

Tangiers Petroleum (LON:TPET) this morning confirmed it has now dropped its legacy exploration assets onshore Australia.

The company is focussed on growth opportunities in Africa, specifically offshore Morocco.

It is currently pursuing a farm-out deal for its offshore Morocco assets, as well as its projects offshore Australia.

“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,” Tangiers said in a statement.

The company explained that the relinquished Cooper-Eromanga Basin exploration permit was a legacy asset where exploration had not been advanced significantly.

 

FTSE 100 on the slide again as US inflation numbers continue to spook investors

FTSE 100 was on the slide again as yesterday’s US inflation numbers continue to spook investors. London’s blue-chip index was down 71 at 7,084. Barratt Developments shares sank despite a positive trading update from the housebuilder, with profit before tax expected to be slightly ahead of...

on 14/7/22