TAG Oil News

2012 News

TAG Oil Announces Increase in Bought Deal Offering to $43.6 Million

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. Vancouver, B.C. – April 24, 2012 – TAG Oil Ltd. (the “Company” or “TAG”) (TSX: TAO) and (OTCQX: TAOIF) is pleased to announce that it has increased the size of its previously announced bought-deal offering. The Company has entered into a revised agreement with Dundee Securities Ltd. (Bookrunner and Co-Lead Underwriter), whereby Dundee Securities Ltd., Casimir Capital Ltd. (Co-Lead Underwriter), Cormark Securities Inc., GMP Securities L.P., Mackie Research Capital Corporation and M Partners Inc. (collectively, the “Underwriters”), have now agreed to purchase, on…

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TAG Oil Announces a $30 Million Bought Deal Offering

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. Vancouver, B.C. – April 23, 2012 – TAG Oil Ltd. (the “Company” or “TAG”) (TSX: TAO) and (OTCQX: TAOIF) is pleased to announce that it has entered into an agreement with Dundee Securities Ltd. (Bookrunner and Co-Lead Underwriter), whereby Dundee Securities Ltd., Casimir Capital Ltd. (Co-Lead Underwriter), Cormark Securities Inc., GMP Securities L.P., Mackie Research Capital Corporation and M Partners Inc. (collectively, the “Underwriters”), have agreed to purchase, on a bought deal basis 2,871,000 common shares (the “Common Shares”) of the…

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Flow Testing Confirms Urenui Oil Discovery and Additional Oil Play at TAG’s Cheal Field

Vancouver, B.C. – April 2, 2012 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF) is pleased to announce that the recently drilled Cheal-B6, Cheal-A9 and Cheal-A10 wells confirm a commercial oil discovery within the Urenui Formation at a depth of approximately 1400 meters. Strong initial flow test results were achieved, with each individual well having the capability to initially produce approximately 200 barrels of light oil per day, plus associated gas from high-quality reservoir sands. Permit-wide 3-D seismic interpretation, including data from pre-existing wells which all intersected Urenui pay, indicates that…

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TAG Oil Announces an Additional $66 Million Capital Expenditure in New Zealand Targeting Reserve and Significant Production Growth

Vancouver, B.C. – March 6, 2012 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF),announces that the Company is initiating a $66 million capital expenditure program within the 100%-controlled Cheal and Sidewinder fields in the Taranaki Basin, New Zealand. This program consists of continued high-impact exploration and development drilling targeting the shallow (~2000m) oil prone zones, deeper drilling (~4000m) targeting large liquids-rich gas prospects and various workover operations to existing wells. In addition, TAG will also expand the Company’s 100%-owned production infrastructure in order to bring additional production on-stream arising from new…

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TAG’s Cheal-B7 Well Flows More Than 1,100 Barrels of Oil Per Day

Vancouver, B.C. – March 5, 2012 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), is pleased to report that TAG’s Cheal-B7 discovery well has been flow tested and is naturally flowing at an average rate of more than 1,100 barrels of light oil per day plus associated gas. The Cheal-B7 well is located within TAG’s 100%-owned Cheal oil and gas field, located in Petroleum Mining Permit 38156 in the Taranaki Basin of New Zealand. The Cheal-B7 well was drilled to a total depth of approximately 2,100 meters and encountered a total…

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TAG Oil Files Q3 Fiscal 2012 Financials and Reports Significant Increase in Revenue and Cash Flow

Vancouver, B.C. – February 15, 2012 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), a Canadian-based production and exploration company with focused operations in New Zealand, reports the Company has filed its December 31, 2011 condensed consolidated unaudited financial statements and management discussion and analysis with the Canadian Securities Administrators for the third quarter of the Company’s 2012 fiscal year. Copies of these documents can be obtained electronically at www.sedar.com, or for additional information please visit TAG Oil’s website at https://tagoil.com/. December 31, 2011 Results (Q3 – 2012 fiscal year) Production revenue increased…

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TAG Oil Grants Incentive Stock Options

Vancouver, B.C. – December 20, 2011 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), announces that the Company has granted a total of 225,000 incentive stock options to Ken Vidalin and a consultant. These options are exercisable until December 20, 2016, at a price of $7.00 per share, subject to one-third of the total options vesting every six months from the date of grant over a period of eighteen months.   TAG Oil Ltd. TAG Oil Ltd. (https://tagoil.com/)is a Canadian-based production and exploration company with operations focused exclusively in New Zealand.…

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TAG Oil Appoints New Director

Vancouver, B.C. – December 14, 2011 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), is pleased to announce that Ken Vidalin P.Eng., has joined the Company’s board of directors. Mr. Vidalin holds a B.Sc. Mechanical Engineering degree from the University of Dakota. Mr. Vidalin is the founder, former director and former Chief Operating Officer of Canadian-based Methanex Corporation (TSX: MX), the world’s leading methanol producer, with major infrastructure in New Zealand, and the country’s largest commercial user of natural gas. Mr. Vidalin is also the founder, former president and former Chief…

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TAG’s Cheal-C1, Cheal-C2 and Cheal-A8 Flow Testing Confirm Significant Oil and Gas Discoveries

Vancouver, B.C. – December 8, 2011 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), is pleased to report that TAG’s Cheal-C1, Cheal-C2 and Cheal-A8 wells have now been flow tested. Of particular significance is the result from Cheal-C2, which flow tested 14 million cubic feet of gas per day (~2,333 BOE per day). All of these wells are located within TAG’s 100%-owned Cheal oil and gas field, located in Petroleum Mining Permit 38156 in the Taranaki Basin, New Zealand. The Cheal-C1 and C2 wells are important step-out wells as they are…

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TAG Announces Normal Course Issuer Bid

Vancouver, B.C. – December 7, 2011 – TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), reports that the Company intends to launch a normal course issuer bid (bid) to purchase up to 4,427,774 of its common shares through the facilities of TSX. The purchase of common shares under the bid will enable the Company to acquire its shares for cancellation. TAG believes that the market price of the Company’s common shares may not reflect their underlying value and that the purchase of common shares for cancellation will increase the proportionate interest of,…

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