Tangiers Provides TAO-1 Well Update, Morocco

Tangiers Petroleum Limited provides an update on the drilling of the TAO-1 exploration well, located offshore Morocco.

No major operational issues have occurred to date and the well is expected to intersect the Assaka and Trident objectives within 60 days from spud, as previously announced.

As the well has been designated as “tight”, no information related to depth or formation will be provided during the drilling, beyond what is required by the ASX and AIM continuous disclosure obligations.

Press Release, July 14, 2014