the "waiting game", page-16

For those that of might of missed some of the marketing and who are concerned re the delays, here is what has been released to the market via interviews. This was in February and note the last two lines of the quote.

‘We are working towards farming out sooner rather than later. And of course this will be a major, major catalyst,’ said Ceglinski.

‘We are working through planning for drilling. We would like to drill two holes this year. This of course would be subject to the farm out.’

The cost of the wells is likely to be in the order of $60-70 million. Tangiers is also looking at a way one or both of the wells might be deployed to assess the shallower oil deposit along with the gas.

Ceglinski revealed there are number of potential partners for Australia.

‘We have been working with several parties while completing our technical work, and we continue to work with some of those parties in terms of due diligence,’ the Tangiers chairman said.

‘We are opening up the data room to a broader range of people who have expressed interest and we will continue to work with those people.’

Read more: http://www.thisismoney.co.uk/money/markets/article-2097213/SMALL-CAP-FOCUS-London-listing-Tangiers-Petroleum-provides-funds-exploration-programme.html#ixzz1ocOnSAd7