Vancouver, B.C. – November 16, 2015 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), is pleased to report the second quarter results for the fiscal year ending March 31, 2016. The Company managed to increase its cash position by $0.9 million to $21.4 million, compared to $20.5 million for the previous quarter ended June 30, 2015, and remains committed to reducing operating and administrative costs wherever possible. As a result of the ongoing challenges posed by the economic climate and low oil prices that have stretched beyond a year now, TAG’s operational vison is focused on low-risk, low-capital, incremental
Vancouver, B.C. – October 14, 2015 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), is cutting its forward guidance and planned capital expenditures for the remainder of fiscal 2016 in response to the low commodity price environment, and due to a slower than expected ramp up of our workover program in the Taranaki Basin of New Zealand. TAG will focus on preserving capital, continuing with a reduced workover program and reducing costs. GUIDANCE AND OUTLOOK FOR THE REMAINDER OF FISCAL YEAR 2016 TAG is reducing its 2016 average production guidance down from 1,900 BOE/d to 1,400 BOE/d and expects
Vancouver, Canada – October 1, 2015 – New Zealand oil and gas producer TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) announces that its Chief Operating Officer, Frank Jacobs, has resigned to pursue other opportunities. A search for a replacement will commence and TAG will update the market as appropriate in due course. Toby Pierce, CEO commented, “We at TAG Oil wish Frank all the best in his future endeavors. Frank worked closely with our team in New Zealand and helped focus our operational activities. And while he will be missed, I’m confident the strong team we have in
Vancouver, B.C. – August 17, 2015 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), is pleased to report the first quarter results for the fiscal year ending March 31, 2016. The Company achieved revenue of $10.4 million during the quarter, a 7% increase compared to $9.7 million for the previous quarter ended March 31, 2015. Changes in the economic climate and low oil prices over the last year have brought about a shift in TAG’s near and long-term focus towards low-risk, low-expenditure, in-field production optimization opportunities that have been identified to increase production. As a result, TAG Oil continues
Vancouver, B.C. – June 29, 2015 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), is pleased to report results for the fiscal year ending March 31, 2015. The Company achieved strong revenues of $53.7 million during the year, with average daily production remaining flat at 1,856 BOE/d (77% oil), over last year however, TAG’s net oil production increased by 29% for the fiscal year to 1,425 bbl/d compared with 1,107 bbl/d in fiscal year 2014.
TAG Oil Ltd. is pleased to announce that Mr. Henrik Lundin will join the Board of Directors of the Company, effective immediately. Mr. Lundin is an experienced oil and gas engineer who holds a B.Sc. Petroleum Engineering degree from the Colorado School of Mines in Colorado, USA.
TAG Oil Ltd. is pleased to announce the appointment of Mr. Toby Pierce as Chief Executive Officer and a Director of TAG Oil, effective immediately. Mr. Pierce, MBA, B.Sc., is a natural-resource executive with more than 19 years of extensive transactional and valuation experience across multiple deals, from a million to $1.3 billion in value.
New Plymouth, New Zealand – May 14, 2015 – Oil and gas operator TAG Oil Ltd., listed on the Toronto Stock Exchange (trading symbol TAO), and in the US on the OTCQX Market (trading symbol TAOIF), reports that pipeline construction connecting the Cheal-E development area to TAG’s main Cheal-A production infrastructure is nearly complete. The TAG-led, NZ$4.5 million (US$3.3 million) project was completed on budget and ahead of schedule. “The new pipeline is an important addition to TAG’s overall infrastructure in the Taranaki region,” said Max Murray, TAG Oil’s New Zealand Country Manager. “It allows us to significantly reduce operating costs
Mr. Alex Guidi, Founder and Chairman of TAG Oil Ltd., is pleased to announce the appointment of oil and gas executive Frank Jacobs to the post of Chief Operating Officer. Mr. Jacobs has enjoyed a successful career as an international oil and gas executive and has worked extensively in Australia, SE Asia, North and South America, and New Zealand.