General Search - Enter what you're looking for...
TANGO PETROLEUM LTD - ASX: TNP
The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.
Description
Tango Petroleum Limited ("Tango" or the "Company") has entered into a participation agreement with Quest Petroleum NL ("Quest Petroleum") pursuant to which Quest Petroleum granted to the Company the exclusive right to earn a 17.5% working interest in the Amazon Prospect located in Acadia Parish, Louisiana, United States of America (Amazon Prospect) and the option to earn a 17.5% working interest in another oil and gas prospect located in Acadia Parish, Louisiana, United States of America (Thames Prospect). The combined potential of these projects are between 500-750 billion cubic feet of gas and 55-75 million barrels of oil.
Amazon is a highly prospective onshore oil and gas exploration prospect situated South Louisiana. It has estimated gross recoverable reserve potential of 450-600 billion cubic feet of natural gas and 45-60 million barrels of oil. Drilling is expected to begin in Q4 2010.
Tango also has the right, but not the obligation, to participate in the Thames Prospect in South Louisiana ("Thames"). Thames covers an estimated area of 1,200 acres, with an estimated gross recoverable reserve potential of 100-150 billion cubic feet of natural gas and 10-15 million barrels of oil. Should the option to participate in Thames be exercised, drilling is expected to begin following completion of the Amazon Prospect program.
Mine For
oil, gas
Location of operation(s)
USA
Address
Suite 9, 1200 Hay Street
WEST PERTH, WA, Australia
Phone
(61 8) 6460 4960
Website
http://www.tangopetroleum.com.au
Last Updated
3/5/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
