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.
Where do you start with the new posterboy of the AIM Cesspit, Tangiers Petroleum (TPET) and news yesterday that it has increased its fundraise from A$5 million to A$9 million? The whole thing stinks
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Comments
Don Diamante
So now Tangiers have enough cash at hand to see them through the worst possible outcome of the upcoming drills. What an absolute disgrace of them to put themselves in such a sensible position.
Clearly, in AIM, Shareprophets only see value in no dilution.
Let’s see now, circa 250m shares fully diluted (so far), hardly the billions on display elsewhere.
This is about the amount of oil under the ground, not the amount of shares on the table. I’ve bought post-suspension, as the 9.5p price was as close to my expected issue price as I thought it would get.
Best of luck getting the buy in price you are after!!
cheers
DD
Tom Winnifrith
Don
1. I have no desire to buy TPET shares. I am neither long or short and will stay that way.
2. So you think it is okay for a PLC to pay someone to write a report fill of untruths, promote that report to investors, then raise cash on the back of the lies in order to “fulfill its aims”. Hmmm you have an odd moral compass. I suggest you apply for a job in AIM regulation.
Best wishes
Tom
Don Diamante
Tom
Having swallowed many bitter pills over the years investing in AIM, I have seen many an up and coming (and established) AIM-er be a tad ‘exaggerating’ with both flyers and even annual accounts.
Ignoring the enthusiastic tactics, it’s as good a prospect I’ve seen for some time, and being in at the start of the hype is the place to be.
If this doesn’t give me 100% interest before TD, then I’m a jungle primate’s mother’s brother.
cheers
DD
J P Spaghetti
How can the figure of 20% possibly be justified? Was it just plucked from the ether or is it based on hitting their target of 1.6 billion barrels? I presume the latter features in their appraisal but even a rube like me knows it doesn’t work that way (if only SP DID reflect proven reserves). In any event, it’s not like blackjack where the odds can be calculated mathematically and precisely (assuming an unrigged deck)!
wildrides
I am in the fortunate position of not having to put my nose up a kangaroos arse on a regular basis , infact on any basis at all . Phew.
However in the interests of maintaining accurate journalistic standards I wonder if our criminal decendant cousins down under can confirm the odour in question is in fact similar to and comparable to Aim companies behaving badly.
Don Diamante
J P Spaghetti wrote:
“How can the figure of 20% possibly be justified? Was it just plucked from the ether or is it based on hitting their target of 1.6 billion barrels?”
It’s from the competent persons report – 21% actually – but that report precedes the seismic surveys and the recent positive Cairn Energy Juby drill result.
Have a look at the Q&A on Proactive Investors.
cheers
DD
J P Spaghetti
Thanks for the response DD. I guess the question ought to be asked of the competent person, then, but the relative timing of the report is interesting.