TAG Oil News

2014 News

TAG Oil Updates Cheal-E6 and Cheal-E7 Wells

Vancouver, B.C. – December 15, 2014 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), is pleased to report progress of the Cheal-E-JV-6 well (Cheal-E6) and Cheal-E7 wells, located in New Zealand’s Taranaki Basin where TAG Oil has extensive oil and gas operations. These new wells continue to demonstrate the prospectivity and the potential for further success in TAG’s Cheal acreage, which remains relatively lightly explored.  Cheal-E6 Well Testing Operations:Over a period of eleven days the Cheal-E-JV-6 well (Cheal-E6) continues to naturally free flow under a 16/64 choke at stable rates. During…

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TAG Oil Increases Exploration Interests in Taranaki Basin

Vancouver, B.C. – December 11, 2014 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), announces that New Zealand Petroleum and Minerals has awarded the Company 100% interest in two new onshore Taranaki Basin permits: Petroleum Exploration Permit 57065 (“Sidewinder North”) and Petroleum Exploration Permit 57063 (“Waiiti”). Both permits, which add a combined 36,781 acres to TAG’s Taranaki Basin exploration portfolio, are situated in a prolific oil and gas production fairway in close proximity to producing oil and gas fields. Together with the Company’s existing permits, TAG now operates ten exploration and…

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TAG Announces Share Buyback

Vancouver, B.C. – December 8, 2014 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), reports that subject to the acceptance of the Toronto Stock Exchange (the “TSX”) the Company intends to purchase and cancel up to 5,885,051 of its common shares. TAG has appointed Dundee Goodman Private Wealth to conduct the purchases through the facilities of the TSX. TAG Oil believes that its share price does not reflect the underlying value of the Company, and that purchasing shares for cancellation will be advantageous to the Company and its shareholders. Under TSX…

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TAG’s Cheal-E6 Well Intersects Oil- and Gas-Bearing Sands

Vancouver, B.C. – November 25, 2014 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), is pleased to report that the Cheal-E-JV-6 (“Cheal-E6”) well (TAG 70%), located in the onshore Taranaki Basin of New Zealand has been successfully drilled to a total depth of 1,939 meters (6,360 feet).  The Cheal-E6 step out well is interpreted to have intersected over 9 meters (29.5 feet) of net oil and gas bearing sands in the Mt. Messenger Formation, which was the main objective of the well. Cheal-E6 is being completed as a potential oil well…

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TAG Oil Reports Consistent Production Growth and Record Quarterly Revenue

Vancouver, B.C. – November 14, 2014 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), is pleased to announce the Company achieved record operating revenue of $16.2 million for the second quarter ending September 30, 2014, up from $15.5 million in the first quarter, in combination with consistent production growth averaging 1,845 barrels of oil equivalent per day (78% oil) during Q2 operations and 1,990 (76% oil), boe/d in October 2014. Based on the growing oil production trends from its Taranaki Basin operations, TAG is pursuing a number of alternatives with a…

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TAG Oil Begins Next Round of Development Drilling and Optimization Work in Core Taranaki Basin Acreage

Vancouver, B.C. – November 5, 2014 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF) is pleased to announce that development, appraisal and step-out drilling, and field optimization work has resumed at the Company’s Taranaki oil and gas fields. Located in the main production fairway of the Taranaki Basin on the North Island, New Zealand, TAG is pursuing significant reserve growth through developing and exploiting its lightly explored discovery acreage in the shallow and high impact deep formations. TAG anticipates that this next wave of low risk development work — focused on…

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TAG Oil Announces Abandonment Plans at Waitangi Valley-1 and Return to Drilling of Core Production Assets in Taranaki

Vancouver, B.C. – September 16, 2014 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), reports the Company has agreed that after encountering extreme drilling conditions, including high-pressure shallow hydrocarbon zones, in the interest of safety, the surface section of the Waitangi Valley-1 well, located in Petroleum Exploration Permit 38348, will be plugged and abandoned.  CEO Garth Johnson commented; “Waitangi Valley-1 encountered very high hydrocarbon zone pressures at shallow depths that cannot easily be compared to anywhere else in the world. We understood this program would be challenging and we encountered extremely…

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TAG Oil Announces 2015 First Quarter Results: Strong Revenue and Production Growth

Vancouver, B.C. - August 14, 2014 - After a successful first quarter 2015 drilling program, TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), is pleased to announce growth of production and associated revenues from first quarter operations and drilling activity.

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TAG Updates Production and Development Drilling Program

Vancouver, B.C. – August 7, 2014 – New Zealand oil and gas producer TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF) is pleased to announce that the shallow development drilling program and production operations in the Taranaki Basin, New Zealand, remains in line with estimates for oil and gas production averaging approximately 2,000 barrels of oil equivalent per day (80% oil), and cash flow from operations of approximately $40 million for the 2015 fiscal year. This production guidance factors only existing production and wells from TAG’s shallow development drilling in…

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TAG Oil Begins Drilling Waitangi Valley-1 Unconventional Exploration Well

Vancouver, B.C. – July 24, 2014 – New Zealand oil and gas producer TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF) is pleased to announce commencement of drilling operations at the Company’s 100%-controlled Waitangi Valley-1 exploration well in Petroleum Exploration Permit 38348, located in New Zealand’s East Coast Basin. The Waitangi Valley-1 well spudded on July 23, 2014 and will be drilled to a total depth of approximately 3,600 meters (11,800 feet). Waitangi Valley-1 is situated 250 kilometers north of TAG’s Ngapaeruru-1 unconventional well, and is the Company’s second high…

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