TAG Oil News

2018 News

TAG Oil Reports Q2 2019 Results

Vancouver, B.C. – November 14, 2018 – International oil and gas explorer, TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to report its second quarter results for the interim period ending September 30, 2018. TAG Oil saw an increase its net daily production by 14% along with a 7% increase in operating netbacks to $47.08 per boe for the quarter. Toby Pierce, TAG Oil’s CEO, commented “TAG Oil had another successful operating quarter with production up from last quarter and supported by strong commodity prices with Brent Oil…

Read More >

TAG Announces Sale of New Zealand Assets and Operations

Vancouver, B.C. – November 6, 2018 – TAG Oil Ltd. (“TAG”, TSX: TAO and OTCQX: TAOIF) announced today that it, along with certain of its subsidiaries in New Zealand, has entered into a definitive share and asset purchase agreement with Australian-based Tamarind Resources Pte. Ltd. (“Tamarind”), and certain of its subsidiaries (the “SPA”). This arm’s length transaction is for the sale of substantially all of TAG’s Taranaki Basin assets and operations in New Zealand (the “Transaction”). The sale will include TAG’s 100% working interests in: PMP 38156 (Cheal and Cardiff),…

Read More >

TAG Responds to Recent Market Rumors

Vancouver, B.C. – October 18, 2018 – In response to market rumors that have come to its attention, TAG Oil Ltd. (“TAG”, TSX: TAO and OTCQX: TAOIF) stated today that it regularly evaluates potential strategic opportunities to create value for its shareholders. From time to time, this process leads to discussions with potential counterparties. There can be no assurance that any such discussions will ultimately lead to a transaction. As a general policy, TAG does not publicly comment on potential transactions unless and until a binding legal agreement has been…

Read More >

TAG Oil Announces Election of Board of Directors and Provides Operational Update

Vancouver, B.C. - September 5, 2018 - TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to announce the results from its 2018 annual general meeting of shareholders (the “Meeting”) held in Vancouver, B.C. on September 4, 2018. All six of the nominees listed in TAG Oil’s management information circular dated August 1, 2018 that were proposed by management for election to the board of directors at the Meeting were duly elected. The directors will remain in office until the next annual meeting of the Company’s shareholders or until their successors are elected or appointed.    

Operational Update

Production over the month of August to date is above guidance with a current gross daily average rate of 1,311 boe/d (80% oil).

The first phase of the planned workover program at Cheal is now complete. Namely, the workovers at the Cheal-A11 and B6 wells were recently completed and the wells are now back on production and producing from the Urenui formation.

Read More >

TAG Oil Reports Q1 2019 Results

Vancouver, B.C. – August 14, 2018 – TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to report its first quarter results for the interim period ending June 30, 2018. The Company was successful in securing a revolving credit facility of up to US$10,000,000 with a large New Zealand based lender, as well as increasing its revenue by 53% along with a 67% increase in operating netbacks to $44.16 per boe for the quarter. Production over the month of April to date is above guidance with a current gross…

Read More >

TAG Oil Reports FY2018 Results

Vancouver, B.C. – June 29, 2018 – TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to report the annual and fourth quarter results for the fiscal year ending March 31, 2018. Most notably, the Company was successful in increasing itsrevenue to $23.7 millionalong with a 23% increase in operating netbacks to $30.66 per boe for FY2018. Toby Pierce, TAG Oil’s CEO, commented “During fiscal 2018 we focused on our waterflood program, exploration drilling and ensuring we maintained our production assets. Despite an average Brent Oil price of $57.52…

Read More >

TAG Oil Announces FY2018 Independent Reserves Results

Vancouver, B.C. – June 19, 2018 – TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) confirms that ERC Equipoise Ltd. (“ERCE”), a qualified reserves evaluator in accordance with National Instrument 51-101 and the Canadian Oil and Gas Evaluation Handbook, has completed its independent reserves assessment on the Company’s producing oil and gas assets within the Cheal (PMP 38156), Cheal East (PEP 54877) and Sidewinder (PMP 53803) permits in New Zealand. This report is dated and is effective as at March 31, 2018. ERCE has assigned a pre-tax net present value…

Read More >

TAG Oil Announces Addition to its Board of Directors

Vancouver, B.C. – May 15, 2018 – International exploration and production company, TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF), is pleased to announce the appointment of Mr. Peter Loretto to its Board of Directors. Mr. Loretto obtained an MBA from Gonzaga University in 1984 and has over 30 years of extensive investment banking and public company experience by working as an independent businessman and investor both in the U.S. and Canada. Mr. Loretto has been involved with funding and developing numerous companies in the resource and technology sector, including…

Read More >

TAG Oil Secures Revolving Credit Facility to Pursue Low-Risk, High Netback Production Opportunities

Vancouver, B.C. – April 19, 2018 – International exploration and production company, TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF), reports that it has secured a revolving credit facility of up to US$10,000,000 with a large New Zealand based lender. The revolving credit facility, which is secured against TAG Oil’s producing Taranaki Basin assets, has been put into place for an initial period of 12 months. The facility can be drawn by TAG Oil upon request, with balances charged at an interest rate of LIBOR + 3.0% per annum. As…

Read More >

TAG Oil’s Pukatea-1 Well Flows Oil and Gas

International exploration and production company, TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF), reports that the Pukatea-1 well was completed at the Mt. Messenger formation, where 12.9 meters of oil-and-gas bearing sands were perforated. Following perforation, a flow test was completed during which the well flowed naturally at a rate of up to 600 b/d of fluids on initial well clean-up. Over a 12-hour test period using a 24/64” choke setting, the well flowed at a stabilized rate of ~276 boe/d (74% oil) without the need for artificial lift. Toby…

Read More >