February 2011

LondonInvestorBriefing

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Disclaimer

All statements in this presentation have been prepared on the basis of a number of assumptions which may prove incorrect and thecurrent intentions, plans, expectations and beliefs about future events and are subject to risks, uncertainties and other factors, many ofwhich are outside Tangiers Petroleum Limited’s (“TPT”) control. Important factors that could cause actual results to differ materiallyfrom the assumptions or expectations expressed or implied in this presentation include known and unknown risks. Plans, expectationsand beliefs could therefore vary materially and you are urged to view all statements contained in this presentation with caution. Thispresentation should not be relied upon as a recommendation or forecast by TPT, its directors, or consultants. Nothing in thispresentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities in any jurisdiction.

This presentation is not intended to provide the sole basis of any investment decision or other evaluation. Each recipient hereofcontemplating an investment in the securities of TPT shall make, or shall be deemed to have made, their own independentinvestigation of TPT and related documentation and their own appraisals of the prospects and merits of the Company and its assetsdescribed herein.

All forecasts, facts, information, estimates and other statements of opinion contained in this presentation have been prepared solely by,or on the basis of, information supplied to TPT. While the information contained herein is believed to be true and accurate, weexpressly disclaim any and all liability for representations or warranties, expressed or implied, contained herein, or in any other writtenor oral communications transmitted or made available to any prospective investor.

No representation or warranty is made by TPT that forecasts, projections, business goals or estimates contained herein will beachieved. This presentation speaks as of the date hereof.

The information in this Presentation was produced by Mr Brent Villemarette who is an Executive Director, of Tangiers PetroleumLimited. It has been produced for the Tangiers Petroleum Limited (the “Company”), and at its request, for adoption by the Directors. MrVillemarette has sufficient experience that is relevant to the style and nature of oil prospects under consideration, and to the activitiesdiscussed, in this document. His academic qualifications and industry memberships appear on the Company’s website and bothcomply with the criteria for “Competence” under clauses 18-21 0f the Valmin Code 2005. Terminology and standards adopted by theSociety of Petroleum Engineers “Petroleum Resources Management System” have been applied in producing this document.

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InvestmentHighlights Oil and Gas Exploration Company listed

on the ASX with activities in North Africaand Australia

Diversified suite of high impactexploration assets

Significant equities in each asset

Multiple drill ready targets

Company making opportunity in shallowwater offshore Morocco with multipletargets of billion barrel potential

Highly experienced board and team withdemonstrated public company success

Significant exploration activityplanned during 2011

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CorporateOverview

Directors

Mark Ceglinski Chairman

Brent Villemarette Executive Director

Graham Anderson Non-Executive Director

12 Month TPT Price ChartCode: TPT

Shares on Issue 82,028,594

Options (16 cents exercise) 45,164,297

Current Share Price $0.24

Market Cap $19.7m

Volume – Month Rolling 5.3m Shares

Month Rolling Price Range 19 – 26 cents

Cash on Hand $3.1m12 Month Crude Oil Price Chart

Source Iress

Source Iress

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TangiersProjects

A Balanced Portfolio

Geographical spread

Significant equities

Drill ready targets

Massive exploration upside

TarfayaoffshoreMorocco

Turtle/Barnett

ATP-587-P

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Why Morocco?

Northern extension to WestAfrican Oil fields Morocco is a net importer of

both oil and gas Morocco pays parity price for oil Morocco encourages foreign

investment Low country risk Good infrastructure

Excellent Fiscal TermsCorporate Tax 10 year holiday This holiday is on each

discoveryVAT (GST) Nil on exploration Nil on productionRoyalty Oil 10% Gas 5%

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Tarfaya will transformTangiers!

Very large exploration blockof 15,000km²

Under explored location, withonly 4 wells drilled (ie 1 wellper 3,750km²)

Established Infrastructure Secure title Extensive Data Base Advanced exploration plays Active petroleum system

within permits Experienced exploration team Participants:

- 75% TPT- 25% ONHYM (Government free

carried through exploration)

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Tarfaya PermitStatistics

The Tarfaya Offshore Block comprises of8 individual permits covering 15,000km²

Water depth generally less than 200 metres

Substantially underexplored

The block is on trend to the Cap Jubyfield which is 23 kilometres to the west

12,500km 2D seismic

580km² 3D seismic

Multiply play types

15 immediate prospects and leads, severaltargets with Bbboip + potential

Excellent work program

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TarfayaProspectivity

Multiple prospectsand leads

Multiple play types

Multiple objectives

Proven source rocks

Proven generation

Proven reservoir quality

Mature project with elephantsize structures and abundantHydrocarbon indications.

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Multiple objectivesand play types

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PetroleumGeology

Geological model focussedon reef and shoal faciesat the shelf margin ofsuccessively stackedJurassic carbonateplatforms

Carbonate build-up (reef)facies has a distinctiveseismic response

Contains all the elementsnecessary for successfulhydrocarbon fields(source, trap, seal,migration, reservoir)

Combination structural andstratigraphic traps

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Stratigraphy

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Regional Salt PiercementStructures Indentified

A number of saltpiercement featureshave been mappedin the region

– Cap Juby (West)

– Chinguetti[to the south]

– Northern licences

Seismic line ROCM98-10 through the MO-3 well location

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Extensive SeismicCoverage

The Tarfaya Basinhas an extensiveseismic grid.

12,500 km of 2DSeismic

580 km² of 3DSeismic

3D seismic coversone of the primaryprospects – La Dam

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Assaka and La DamProspects

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La Dam Prospect

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Marin - A Prospect

Target NotReached

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TridentProspect

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Tarfaya ProjectSchedule

Project Start

QC Existing Seismic Data

Farm-Out Process

Award Farm-Out-La Dam

Reprocess 2D & 3D Seismic

Prospect Generation

Well Planning and Approvals

Drilling and Evaluation

La Dam

Acquire & Evaluate 3D Seismic

Prospect Generation/Lead Maturity

Farm-Out Process-Assaka\Trident\Marin A

Acquire & Evaluate 3D Seismic

Well planning & approval

Award Farm-Out

Drilling and Evaluation

Assaka / Trident / Marin - A

Lead Generation + Maturation

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Turtle / BarnettOil Fields

Turtle Oil Field discovered in 1984

Barnett Oil Field discovered in 1985

Significant upside

On test produced 792-920 BOPD (38° API)

Work Objectives

2011: Engineering Studies and Field Design

Reprocess Existing Seismic

Acquire 200km² 3D seismic overthe Turtle Oil Field

Secure farm in partner

2012: Two Exploration Wells

One each in the Turtle andBarnett oil fields

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Turtle – Barnett Schematic CrossSection and STOIIP Distribution

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Turtle-BarnettDeterministic STOIIP

0 5km

WA-442-P

NT – P81

Proven Oil ReservoirsTop Lower Treachery12 MMBO, potentially muchlarger if struct/strat pool

Top Keyling48 MMBO Top Lower Treachery

55 MMBO

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Turtle-BarnettDeterministic STOIIP

0 5km

WA - 442 - P

NT - P81

Potential ResourcesTop Kuriyippi23 MMBO

Top LowerTreachery,Point SpringsEach 19 MMBO

Basal Keyling12 MMBO

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ATP-587-P

Onshore southwest Queensland

Eromanga / Cooper / Adavale Basins

Several prospects mature for drilling

Irrigulla – bypassed pay

Company is currently soliciting farmin partners

Prospect P90 P50 P10 Mean

Potential Oilin Place mmbbl mmbbl mmbbl mmbbl

Irricullabasal Jurassic 3.5 12.8 34.6 16.4

Carella CreekSouth Evergreen 3.5 10.4 18 10.8

Carella CreekSouth Birkhead 1.0 2.0 3.2 2.0

Cattle Creekbasal Jurassic 0.9 2.7 8.6 3.9

Total Eromanga 8.9 27.9 64.4 33.1

Gas in Place BCF BCF BCF BCF

Braidwood Deep 320 575 950 610

ATP-587 Location

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IrricullaProspect

Well deviated Intersected well on low side of fault Recorded oil shows Structure not tested Plan to drill within closure PDT 1,800 Metres

Excellent chance forsuccess and Oilaccumulation in

upthrown fault block

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InvestmentDrivers

Geographically diversified portfolio high impact, highly, prospective permits

Material equities in all permits

Exposure to significant acreage in new frontiers prospective

Drill ready targets.

Significant exploration upside

Share price highly leveraged to exploration success

Excellent fiscal terms

Experienced team

Examining further opportunities in North Africa

Considering secondary AIM listing in 2011 to satisfy European investor interest

Tarfaya is a potential company maker

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Directors

Mr Mark CeglinskiChairman

Mr Ceglinski is a corporate finance executive and Company Director.

He is currently a Managing Director and Head of Corporate for CarmichaelCorporate Pty Ltd where he advises on Equity Capital Markets (primary andsecondary raisings), M&A, Debt and Strategy.

Prior to that he was Head of Corporate for a national Stockbroking Firm andhas previously been a Partner of International Accounting firms ArthurAndersen and Ernst & Young.

He has sat on numerous boards and is currently a Director of Red CatMinerals Ltd, and Swings & Roundabouts Ltd. Previous Directorshipsinclude Chairman of Cougar Metals NL, Peak Coal Limited and KempoMining Ltd. He is a member of the Institute of Chartered Accountants, TheAustralian Institute of Company Directors, FINSIA and is a MasterStockbroker with the Stockbrokers Association.

Mr Brent VillemaretteExecutive Director

Mr. Villemarette is a petroleum engineer with more than 29 years’experience in the oil and gas industry, both domestic and international. Hisexperience spans a wide range of disciplines including exploration,development, operations, marketing, acquisitions, and new ventures.

He is presently Operations Director for Latent Petroleum, a privatecompany co-founded with a small team of industry professionals activelyengaged in commercializing the large undeveloped Warro tight gas field inthe northern onshore Perth Basin.

Prior to that he held roles of International Reservoir Engineering Managerfor New Ventures with Apache Corporation based in Houston, Texas andReservoir Engineering Manager for Apache Energy Limited based in Perth

Mr Graham AndersonNon – Executive Director

Mr Graham Anderson is a graduate of Curtin University and has over 25years commercial experience as a Chartered Accountant. He operates hisown specialist accounting and management consultancy practise, providinga range of corporate advisory and audit services to both public andprivate companies. From 1990 to 1999 he was an audit partnerat Horwath Perth.

He is currently a Non-Executive Director of Dynasty Metals AustraliaLimited, Mako Energy Limited, Echo Resources Limited and PegasusMetals Limited. Graham is Company Secretary of Iron Road Limited,Elemental Minerals Limited, Bathurst Resources Limited and a number ofother ASX listed companies.

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CorporateInformation

Registered OfficeSuite 2, Mezzanine Floor35-37 Havelock StreetWest Perth WA 6005

Postal AddressPO Box 389West Perth WA 6005

Telephone: +61 8 9322 2700Facsimile: +61 8 9322 7211

Web: www.tangierspetroleum.com

Share RegistrySecurity Transfer Registrars Pty Ltd

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