CORPORATE
See the East Coast Basin stratigraphy that drives TAG Oil's two-pronged exploration approach.
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Reserves and Undiscovered Resources
| Proved and Probable Reserves | |||
| Oil (bbls) | Solution Gas (mcf) |
Oil Equivalent (boe) |
|
|---|---|---|---|
| Taranaki Basin, Cheal | |||
| Proved and Probable Reserves (1) |
651,000 |
258,000 |
694,000 |
| Possible Reserves | 398,000 | 167,000 | 426,000 |
| Total | 1,049,000 | 425,000 | 1,120,000 |
|
Undiscovered Resources (2) (bbls Oil) | |||
Low Case |
Best Case |
High Case |
|
| Taranaki Basin (3) (4) | |||
| Conventional Exploration | 12,961,000 | 19,062,500 | 25,164,000 |
| Subtotal | 12,961,000 | 19,062,500 | 25,164,000 |
| East Coast Basin (5) (6) | |||
| Conventional Exploration | 1,316,000,000 | 1,736,000,000 | 2,513,000,000 |
| Unconventional Exploration | 4,022,263,000 | 12,654,778,000 | 39,835,707,000 |
| Subtotal | 5,338,263,000 | 14,390,778,000 | 42,348,707,000 |
| Total | 5,351,224,000 | 14,409,840,500 | 42,373,871,000 |
(1) BOE Cautionary Statement - BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf:1bbl is based on an
energy equivalency at the burner tip and does not represent a value equivalency at the wellhead.
(2) Undiscovered Hydrocarbon-In-Place (equivalent to undiscovered resources) is that quantity of petroleum that is estimated, on a given date, to be contained in accumulations yet to be discovered. There is no certainty that any portion of the undiscovered resources will be discovered or that, if discovered, it will be economically viable or technically feasible to produce.
(3) Contingent Resources were estimated by Drew Cadenhead, a full-time employee of TAG Oil Ltd., who is a qualified reserves evaluator in
accordance with National Instrument 51-101
(4) Original Hydrocarbon-In-place (Bbl) - Based on 6 current prospects
(5) Based on Independent reports by qualified reserves evaluators for Trans-Orient dated September 2007 and September 2008
(6) Original Hydrocarbon-In-place (BOE) - Based on 10% of Company land base
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