Field news and more

Strong flow test at Sidewinder 3 makes for more good news

The test is done and the news is good: We drilled the Sidewinder-3 well (about 1 km south of Sidewinder 1) to a total depth of 2,160 meters and encountered 15.4 meters of net gas-bearing sandstones. We’ve drilled four wells so far, and the interpreted total hydrocarbon column at Sidewinder exceeds 60 meters in thickness, with no water column evident in any of the wells. A 4-Point Isochronal test achieved a stabilized flow rate of 7.2 million cubic feet per day (1200 BOE per day) with less than a 50%…

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Cheal-B4ST exploration well gives us a strong flow test from multiple zones

News just how we like it: We drilled the Cheal-B4ST vertical exploration well to 1821m and encountered net pay in both the Urenui and Mt. Messenger Formations. Flow rates averaged 400 BOE per day (360 barrels of oil + 240 thousand cubic feet gas) after the first week of production. The well encountered 17 meters of net pay within the Urenui at ~1400m and Mt. Messenger at ~1700m. These Miocene-aged zones were isolated and tested separately, confirming oil and gas flow rates from both. The Urenui test really opens a…

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Cheal-B4ST exploration well perforation

A few great photos of Darren dropping the bar to perforate Cheal-B4ST.   

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The roster of analysts continues to grow…as does TAG’s pipeline

David Beddis of Cormark Securities Inc. is now following TAG Oil. The current list of analysts includes: Peter Nicol of GMP Securities, Bill Newman of Mackie Research Capital, and Kevin Shaw of Wellington West Capital Markets Inc. While any opinions regarding TAG’s performance made by these analysts are theirs alone, we think the coverage is an indication of TAG Oil’s sound strategy borne out by recent drilling and discovery results. Meanwhile, lots of welding along the roadside as our pipeline grows. Most of this should be buried within a couple…

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Cormark Securities, oil and gas analysts

Cormark Securities Inc. oil and gas Analyst David Beddis initiated investment coverage on TAG today.

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TAG gets a substantial oil and gas reserve increase from Sproule

Sproule International Limited, one of Canada’s largest independent petroleum engineering consulting companies, has released an assessment of TAG’s reserves in the Cheal Mining Permit and Sidewinder Exploration Permit increasing our probable reserve substantially. After considering 2011 production, the 1,677,000 BOE in proved and probable reserves represents a 221% increase over their March 2010 reserve assessment. Due to fiscal year-end 2011 cut-offs and the timing of April and May Sidewinder ops, the reserves relate primarily to the Cheal oil and gas field. Sidewinder’s reserve assessment was completed with information related only…

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Cheal Exploration drilling with a step-out well

Exploration drilling is set to resume at Cheal; our next target is the Cheal-C1 exploration well, a 3.5-kilometer step-out well to the northwest of where we’re already producing light oil and gas. Cheal-C1 will test the Mt. Messenger (~1800m) and Urenui Formation sandstones (~1400m) ID’d on 3-D seismic and supported by strong bypassed oil and gas shows in the nearby deep Cardiff-1 well (~4000 meters) drilled by a previous operator back in 1995. Positive results from Cheal-C1 will lead to an immediate rig skid on the Cheal C site to…

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TAG Sidewinder gas pipeline gets welded

And some more Sidewinder gas pipeline photos are in from the field, these showing some of the welding process. The drizzle shouldn’t slow things down, as TAG works to link its gas discovery with the North Island’s main high-capacity pipeline.  

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Flow test preparations

Completion operations and flow testing of the Cheal-B4ST discovery well, the first of our high-impact exploration wells to be drilled in TAG’s Taranaki Basin acreage, is underway. Cheal-B4ST encountered 17 meters (56 feet) of net pay within four previously untested Miocene-aged zones…

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Laying track: the Sidewinder gas pipeline is underway

Here we are building, on a great fall day, the pipeline that will link gas from TAG’s Sidewinder oil and gas discovery into the Taranaki Basin’s main high-capacity pipeline.   

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