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.
I won’t name (and shame?!) him, but I had a recent chat with one of our contributors recently about the virtues or otherwise of buying into Tangiers Petroleum (TPET) as a trade on oil frenzy. My coverage of Tangiers hasn’t been exactly favourable and I’d have a very hard time buying such a stock without applying a clamp to my nose. However, for my unnamed colleague, Tangiers represents a tradeable buying opportunity. He could well be right and it will be interesting to watch the market’s response in the coming weeks to this news that drilling operations at the TAO-1 Well have started.
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Comments
Mark
U obviously didn’t follow the story enough like u said, as in fact the got their placement “away” at a near enough 50% discount to the SP at the time!
Ben Turney
@Mark true, but the placement was at a sizeable premium to the 3 month moving average of the stock.
I’m not saying the MSMN placement was a good one. My point is that it is an indicator the sacrificial flock is returning to the sector