Field news and more

Sidewinder Facility: updating TAG Oil’s gas-processing capacity

With the number of oil and gas wells TAG has online, waiting to come online, and yet to be drilled, we’ve been upgrading the infrastructure of our Cheal and Sidewinder oil and gas production facilities to ensure that we have the capacity to handle existing and future production.   Sidewinder’s compression unit has been installed and is now operational at full capacity with only two of four wells maintaining this capacity. These high deliverability reserves are being conservatively produced at approximately 8-10mmcf/d with the single compressor to ensure many years…

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Warren Buffett and TAG Oil together in a Forbes post: That’s what we call good company.

In a recent post about TAG Oil as a good “buy” opportunity, Forbes online says “…investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. ” They point towards one way of measuring fear levels via the Relative Strength Index (RSI), which measures stock momentum on a 100-point scale.   “A stock is considered to be oversold if the RSI reading falls below 30. A bullish investor could look at TAO’s 28.8 RSI reading today as a sign that the recent heavy selling is in the process…

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TAG Oil closes bought-deal offering

We know there’s been more financial news than drilling photos from the field lately, but it’s all in the running of an oil and gas business.   TAG Oil has closed its bought-deal offering of common shares (at $10.45 per common share for gross proceeds of $46,345,750).   We plan to invest the proceeds to: – Accelerate exploration and development program in the Cheal, Sidewinder and Kaheru permits in the Taranaki Basin; – Identify and pursue new business opportunities including future land acquisitions in the Taranaki Basin;  – Fund general corporate projects.   The underwriters, who have…

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TAG Oil a Top Pick on Business News Network

A nice bit of press at BNN (Business News Network) Canada, picking TAG Oil as a top stock pick recently. There’s a short ad, but at about minute 1:23 you’ll see TAG Oil selected as Robert McWhirter’s (of Selective Asset Management) first Top Pick: http://ow.ly/azkxS   We’ll forgive them for mis-classifying us as a Venezuelan company, since the rest of the profile is spot on.    

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Dundee Securities now covering TAG

Alexander Klein of Dundee Securities Ltd. is now among the analysts covering TAG Oil. Please see all the analysts with investment coverage on TAG Oil here.

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TAG Oil gets some love from “The Street”

TAG Oil was in some pretty nice company in a recent Frank Byrt piece in The Street. For the whole article link here, http://ow.ly/9FcGr, and for an excerpt, read on.     Boston | Frank Byrt | The Street | 3/12/12   10 Best-Performing Stocks in Three-Year Bull Market “…In order to find the best of the last group, I screened Morningstar data for companies with solid financial fundamentals, a market value of at least $250 million and a three-year average annual return of 200% or better. Surprisingly, there is only one technology…

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Tracking TAG Oil’s production, development and infrastructure

We put together a simple table to bring you up to speed on TAG’s Taranaki Basin oil and gas producing and drilling activity. The table includes producing oil and gas wells, wells in development (some awaiting workover operations as well as improvements in production infrastructure, to bring additional production that’s currently sitting behind pipe, on-stream), and our next condensate targets to be drilled. Status will change quickly, but here’s a snapshot of how TAG Oil’s drilling and workover program stands now. Taranaki Shallow Drilling and Workover Program Cheal A A1…

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Keeping infrastructure apace with oil and gas discoveries

TAG Oil’s drilling success has surpassed its facility capabilities, so we’re investing in infrastructure expansion to help us bring all production on stream. The expansion will also help to commercialize future discoveries without delay. After drilling 14 successful oil and gas wells in a row, combined with our ongoing Taranaki drilling program, it became necessary to expand Cheal’s infrastructure, including: Triple oil-lifting capacity; Triple gas compression capacity; Build a gas plant at Cheal capable of stripping LPG and liquid hydrocarbons from Cheal gas; Build the Cheal-C site oil battery to…

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Average BOE production costs go down, as oil and gas production increases

Here’s a compelling set of figures to come out of TAG Oil’s third quarter financials.         Production revenue increased to: $12,976,714 for the quarter(nine months: $26,206,992) compared to $3,851,621 (nine months: $8,078,684) in Q3 of FY2011 Per barrel production, storage and transport costs reduced to: $6.94 per boe for the quarter(nine months: $10.73) compared to $16.57 per boe (nine months: $18.15) in Q3 of FY2011 Meanwhile,         TAG sold light oil: 94,545 barrels(nine months: 209,130) in the quarter at an average price of: $113.11 per barrel TAG…

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TAG Oil CEO & Controller visit the field

On a recent trip to Taranaki New Zealand, TAG Oil CEO Garth Johnson and Controller Dan Brown snapped some photos for the blog. They were down under for meetings with the technical team and local community leaders, and of course, to experience the new developments at TAG’s Cheal and Sidewinder oil and gas discovery areas first-hand.   

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