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Tangiers Petroleum shares in stasis for another week

Published: 17:25 17 Sep 2014 AEST

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Shares in Tangiers Petroleum (LON:TPET, ASX:TPT) will remain in stasis for at least another week.

The oil share has been suspended pending an announcement relating to the company’s funding obligations to an exploration venture offshore Morocco, which in its first well failed to discover viable hydrocarbons.

It began in early August, just after the unsuccessful well result was announced.

In a stock exchange statement today Tangiers said its shares on both AIM and ASX will remain suspended until an announcement is made and the group’s half yearly report has been made.

Tangiers said it expects the trading of its securities to resume on Wednesday September 24.

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