UK: Tangiers Petroleum announces admission to trading on London’s AIM market

Highlights

• Tangiers Petroleum commences trading on the London Stock Exchange’s AIM market under the ticker code 'TPET' as of 08:00 on 3 February 2012;
• The AIM listing will complement the Company’s existing listing on the Australian Securities Exchange (ASX);
• Together with its ASX listing, the AIM listing provides the Company with a strong platform from which to strengthen its shareholder base and increase its international profile;
• Following its recently announced AUD$6.35 million placement to UK, North American and Australian investors, the Company is well positioned to unlock the potential of its oil and gas exploration projects in Morocco and Australia.

Tangiers Petroleum, the oil and gas exploration company with high impact prospects in offshore Morocco and Australia, announces today the commencement of trading on AIM. The listing on AIM is in addition to the Company’s existing listing on the ASX and is expected to expand the international profile of the Company and broaden the Company’s access to capital from international investors. AIM is recognised as one of the world’s leading exchanges for junior resource companies, with a significant peer group, analyst coverage and institutional investor following of oil and gas explorers active in Africa.

Shore Capital Stockbrokers and Old Park Lane Capital are joint brokers to the Company for the AIM listing, with RFC Corporate Finance acting as the Company's Nominated Advisor.

Mark Ceglinski, Chairman of Tangiers Petroleum, commented, 'We are delighted to be bringing the Tangiers investment opportunity to the wider universe of European investors who particularly recognise and understand the long term African oil and gas growth story. Following today’s successful Admission, the Company’s main objective, with the funding provided by the Company’s recently announced AUD$6.35 million placement to UK, North American and Australian investors, is to advance the exploration of its oil and gas permit interests in Morocco and Australia.'

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Source: Tangiers Petroleum