TANGIERS WINS BID FOR SIGNIFICANT INTEREST IN US OIL AND GAS...

TANGIERS WINS BID FOR SIGNIFICANT INTEREST IN US OIL AND GAS PROJECT
Successful bid for large acreage position (86,950 net acres of a gross 400km2) onshore Alaska in prolific liquids-rich area
Significant working interest in strategic asset with world class potential
Excellent fiscal terms with cash rebate of up to 85% of exploration expenditure
Experience US partner to work with Tangiers on the ground
Long primary term leases (10 years), Operatorship and high working interest (87.5%) provide maximum financial flexibility to Tangiers.