TAG Oil News

2011 News

TAG Oil Grants Incentive Stock Options

Vancouver, B.C. – December 20, 2011 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), announces that the Company has granted a total of 225,000 incentive stock options to Ken Vidalin and a consultant. These options are exercisable until December 20, 2016, at a price of $7.00 per share, subject to one-third of the total options vesting every six months from the date of grant over a period of eighteen months.   TAG Oil Ltd. TAG Oil Ltd. (https://tagoil.com/)is a Canadian-based production and exploration company with operations focused exclusively in New Zealand.…

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TAG Oil Appoints New Director

Vancouver, B.C. – December 14, 2011 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), is pleased to announce that Ken Vidalin P.Eng., has joined the Company’s board of directors. Mr. Vidalin holds a B.Sc. Mechanical Engineering degree from the University of Dakota. Mr. Vidalin is the founder, former director and former Chief Operating Officer of Canadian-based Methanex Corporation (TSX: MX), the world’s leading methanol producer, with major infrastructure in New Zealand, and the country’s largest commercial user of natural gas. Mr. Vidalin is also the founder, former president and former Chief…

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TAG’s Cheal-C1, Cheal-C2 and Cheal-A8 Flow Testing Confirm Significant Oil and Gas Discoveries

Vancouver, B.C. – December 8, 2011 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), is pleased to report that TAG’s Cheal-C1, Cheal-C2 and Cheal-A8 wells have now been flow tested. Of particular significance is the result from Cheal-C2, which flow tested 14 million cubic feet of gas per day (~2,333 BOE per day). All of these wells are located within TAG’s 100%-owned Cheal oil and gas field, located in Petroleum Mining Permit 38156 in the Taranaki Basin, New Zealand. The Cheal-C1 and C2 wells are important step-out wells as they are…

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TAG Announces Normal Course Issuer Bid

Vancouver, B.C. – December 7, 2011 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), reports that the Company intends to launch a normal course issuer bid (bid) to purchase up to 4,427,774 of its common shares through the facilities of TSX. The purchase of common shares under the bid will enable the Company to acquire its shares for cancellation. TAG believes that the market price of the Company’s common shares may not reflect their underlying value and that the purchase of common shares for cancellation will increase the proportionate interest of,…

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TAG Oil’s Cheal-B5 Discovery Well Flow Tests 1700 Barrels of Light Oil per Day

Vancouver, B.C. – December 5, 2011 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), is pleased to report the Cheal-B5 discovery well is naturally flowing at an average rate of 1,870 barrels of oil equivalent per day, consisting of 1,700 barrels of oil and 1.0 million cubic feet of gas per day flowing through a 40/64″ choke over a five-day test period.  TAG perforated and flow tested 20 meters of continuous oil-and-gas pay in the Cheal-B5 well within the 35 meters of net pay intercepted within the primary Mt. Messenger Formation…

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TAG Receives Consent to Drill 18 Wells at Cheal,and Agreement to Bring New Drill Rig into New Zealand

Vancouver, B.C. – November 28, 2011 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF),reports that the Company has received consent from the Taranaki Regional Council (TRC) and the Stratford District Council (SDC) to drill 18 new wells within TAG’s 100%-owned Cheal Oil and Gas Field in New Zealand.  The final decision granting consent in support of TAG’s drilling operations was handed down by the SDC-appointed independent commissioner after an affected landowner requested a hearing. The consent grant is subject to an appeal process that must be lodged within 15 days of…

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Cheal Production and TAG Development Activities Continue as Planned: Clarification on Incorrect Reports in New Zealand Media

Vancouver, B.C. – November 21, 2011 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), a Canadian-based production and exploration company with extensive operations in New Zealand, advises the Taranaki Daily News has incorrectly reported that TAG had stopped production at the Cheal Oil and Gas Field.  This article entitled “Drilling opposition puts 42 out of work” reported that “TAG Oil Ltd. stopped production while it waits for resource consent for 18 new wells at its Cheal sites near Stratford.” This report is inaccurate. TAG wishes to clarify that production has not…

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TAG Files Q2 Fiscal 2012 Financials and Reports Significant Increase in Revenue and Cash Flow

Vancouver, B.C. – November 15, 2011 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), a Canadian-based production and exploration company with extensive operations in New Zealand, reports the Company has filed its September 30, 2011 condensed consolidated unaudited financial statements and management discussion and analysis with the Canadian Securities Administrators for the second quarter of the Company’s 2012 fiscal year. Copies of these documents can be obtained electronically at www.sedar.com, or for additional information please visit TAG Oil’s website at https://tagoil.com/. September 30, 2011 Results (Q2 – 2012 fiscal year) Production revenue increased…

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TAG Provides Cheal Operational Update

Vancouver, B.C. – November 2, 2011 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF) is pleased to report continued positive drilling results at the Cheal field, with the completion of the first two wells of a ten-well drilling campaign. Electric log analysis of these wells indicates high-quality oil pay in the targeted Mt. Messenger and Urenui Formations. A pumping unit is currently being mobilized to the field for extended well testing. The Company is also pleased to announce the spudding of the Cheal-B5 appraisal / development well, which will target the…

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TAG Commences Full-Time Gas and Condensate Production at Sidewinder Discovery

Vancouver, B.C. – October 31, 2011 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF)is pleased to announce completion and commissioning of the Sidewinder Production Facility and 3.5km pipeline located in the onshore Taranaki Basin, New Zealand. This facility is designed to handle up to 30 million cubic feet of gas production per day, as well as any oil production, and was constructed following the first four successful Sidewinder exploration wells drilled earlier this year. Initial commissioning rates from the first two Sidewinder wells tied into the facility are currently between 6…

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