Field news and more

A weekend of networking, close to home

TAG Oil was recently in Whistler BC for the 2018 Capital Event Conference. Over the course of three days, Chris Beltgens (TAG’s VP of Corporate Development) met with a number of peer companies active in the resource sector, and had 18 one-on-one meetings with resource investors from the Vancouver area, Calgary and Toronto. This was our first year at this event close to home in Whistler, though in the past we’ve attended the Florida version of the same conference. During the conference an interview was conducted with Chris, where he…

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Onward and Upward!

Following TAG’s recent announcement of Alex P. Guidi’s resignation as Chairman of TAG Oil’s Board, we caught up with the busy entrepreneur for a few words of farewell and his thoughts on what lies ahead. “Change is healthy!” said Alex, enthusiastically, during our conversation. “Regarding my board resignation, I would like to remind everyone what a strong, I mean really strong, growth platform and top-notch team TAG Oil has in place. “I am — and will continue to be — a supporter of TAG Oil, but in addition to oil investments,…

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Exploration well drilling update & video

TAG Oil’s Pukatea-1 exploration well is living up to expectation so far, with potential oil pay at our secondary target, the shallow Mount Messenger formation. With at least one oil-charged zone, the probability is high that this well, along with the shut-in Puka 2 wellbore, will be monetized. Now we drill on to our primary target in the deeper, high-impact Tikorangi Limestone target —which lies in the same formation as the adjacent Waihapa oil field that has produced more than 23 million barrels of oil to date. As we drill,…

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You asked and we answered!

In this industry, our highly skilled management and team have to continuously prepare for new successes, unexpected challenges, and both quickly changing and well-laid plans. We were able to sit down with TAG Oil CEO, Toby Pierce, for a few moments to get his thoughts on all things TAG, and even his personal thoughts on oil prices through to 2019. The videos have been broken down into a couple segments, so don’t forget to check back for the last two. And feel free to send any questions you might have…

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Melbana Energy on the Pukatea prospect

We’ve shared the reasons why TAG Oil became interested in the Pukatea prospect, but what caused our Joint Venture partners (30%) Melbana to seek a project in the Taranaki Basin? A few of their comments include: The fact that it is in a proven basin and a large prospect It’s in the same reservoir as the Waihapa field, just 4km away, a highly productive oil field that has produced in excess of 23 MMBbls of oil to date with initial well rates of ~5,000 bpd Economic to produce and immediately…

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From millions of years, to millions of barrels a day

Oil — as we all know — takes hundreds of millions of years to form. But it’s now used in our modern world at an astounding rate of more than 97 million barrels per day.  This infographic gives insight into how oil is formed, the different types of oil, and some products that may surprise you, that use components of crude oil. Enjoy!  

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Big banks raise price targets

With global demand levels growing, oil keeps rising, and now big investment banks are upping their price targets too. Both the Bank of America’s Merrill Lynch and Morgan Stanley have increased crude oil forecasts, and Goldman Sachs has yet to follow suit. But the risk that oil prices will exceed their current targets is getting higher. And now, as many predicted after the oil price slump, Merrill Lynch analysts are predicting that oil markets will be undersupplied by about 430,000 barrels a day in 2018.  The prior forecast was a…

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Pukatea: Ready to drill

The potential size of TAG Oil’s Pukatea prospect could prove to be a changing factor for TAG (70%), its JV partner Melbana Energy Limited (30%), and most importantly, for TAG’s shareholders. Following completion of the technical reassessment, as we prepare to drill the high impact well, we have found a secondary target for the well. The primary objective of the well will be the deeper Tikorangi limestone, and the secondary target will be in the shallower Mt. Messenger sands. The Pukatea drilling prospect ranges from 1.3 to 40 million barrels…

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Oil finally makes its move

Crude prices are climbing as the supply/demand gap closes. The EIA reported that nationwide inventories fell by 4.95 million barrels, the largest draw since the oil price crash in 2014 for this time of year. Brent crude is hovering right below $70 with WTI about $63, and traders are optimistic. The reason for their optimism? Dwindling stockpiles of crude for eight consecutive weeks, continued OPEC cutbacks, and tensions in the Middle East. “We’re seeing falling inventories and rising geopolitical risk and that signals higher oil prices,” said Rob Thummel, managing…

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Happy New Year from TAG!

The beginning of a new year is all about reaching new heights and new achievements. Throughout 2017, TAG Oil has been planting the seeds to promote growth in the upcoming year. With a dedicated team and high-impact prospects we know that 2018 could send us to new heights.  To all of our followers, thank you for your continued support. Our wish for you is a 2018 that holds only success and good fortune in any venture you choose.  

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