(MENAFN- ProactiveInvestors - Australia) Tangiers Petroleum (ASX: TPT) has withdrawn from its onshore Cooper-Eromanga exploration permit to focus on growth opportunities in Africa.
ATP 587 is a legacy asset where exploration had not been advanced significantly. Besides conventional oil and gas prospects, it is also thought to have shale oil potential.
Tangiers is currently progressing farmouts of its Moroccan and Australian offshore exploration permits.
These measures, combined with the recent capital raisings, will allow the company to step-up its search and analysis of onshore and shallow water acquisition and farm-in opportunities in Africa.
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