Tangiers Petroleum issues TAO-1 Operational Update
Tangiers Petroleum Limited (ASX: TPT; AIM: TPET) (“Tangiers” or the “Company”)provides the following update on the TAO-1 exploration well located in the Tarfaya Offshore Block, Morocco.
The TAO-1 exploration well has intersected the shallowest and secondary objective, Assaka. Based on currently available information, no hydrocarbon shows have been encountered. A full petrophysical evaluation of the Assaka objective will be carried out at section TD.
Drilling operations continue as planned towards the primary and largest objective, Trident. The TAO-1 exploration well has been designed to test Trident at its optimal location. Tangiers’ interpret that success at Trident is not co-dependent on the results from Assaka.
The Company will provide additional updates as appropriate.