UK 20:32 Friday, 23 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Sometimes we are lucky enough to come across an RNS, which is so outrageous it is just plain funny. This morning, the soon to be renamed Tangiers Petroleum (TPET) issued a corker. According to its “recently completed Independent Resource Report”, the company’s Icewine Project, in Alaska, could contain a potential gross mean unrisked 8billion barrels of oil in place. Better yet, Icewine has an estimated 41% “probability of geologic success”. For little old Tangiers, up 45.8% to 0.88p and valued at £4million, this sounds too good to be true. The reason for this is quite simple. It is because it almost certainly is.
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Comments
Diamond Don
In other words: you looked, wanted to buy, missed the sub-0.4p price opp, have watched in dismay as it’s since doubled, now have to subtly trash the company RNAs to try get the price back down to a level that you are happy to buy at and which gives you an opportunity to derisk later, which will be only after you start ramping the bejeeses out of it yourselves.
Just a guess, seeing as how you’ve basically admitted above that you are keen on it for later in the year!
Aside, this report was always going to appear prior to fund raising, and I expect you would be correct with your call on a premium raising price too.
Plus, does anyone investing in AIM look at fundamentals?? It’s all about timing the throw of your dice.
Ben Turney
@Diamond Don – don’t be ridiculous. If you’ve read any of my other recent commentary you will know I am very bearish on oil stocks and am currently out of everything oil related.
As for my being “keen” on this stock later in the year, that is absurd. I might, at a real push and dependent on a lot of factors, consider it as a speculative gamble, but even then there are likely to be much better opportunities elsewhere
If I do buy, there is no chance of my “ramping the bejesus” out of this stock. That’s not my style at all.
Diamond Don
Ben
Alright don’t throw a strop, I’d have hoped you’d get tongue in cheek without me having to clarify…
There’s money in that there oil if you look in the right holes.
Cheers
DD
Ben Turney
@Diamond Don – OK, OK, I might have reacted a little on the defensive side…
Back to TPET and making money on this stock has absolutely nothing to do with oil!!!!
Diamond Don
Agreed!