TAG Oil News

2011 News

TAG Oil’s Sidewinder-2 Discovery Well Flows at 1467 Barrels of Oil Equivalent Per Day

Vancouver, B.C. June 23, 2011 – TAG Oil Ltd. (TSX-V: TAO) and (OTCQX: TAOIF) is pleased to report that a 4-Point Isochronal flow test was completed over the main discovery zone in the Sidewinder-2 discovery well, which achieved stabilized flow rates of 8.8 million cubic feet per day (~1467 BOE per day) with less than a 25% drawdown. The results from Sidewinder-2 further strengthen the already robust project economics, with anticipated full-time commercial production commencing upon completion of the new Sidewinder production facilities in a few months time. The Sidewinder-2 well is…

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Strong Flow Test Results for TAG Oil’s Sidewinder-4 Well, Sidewinder-2 Flow Testing Underway

Vancouver, B.C. — June 9, 2011 — TAG Oil Ltd. (TSX-V: TAO) and (OTCQX: TAOIF) ) is pleased to report the initial flow testing of the Sidewinder-4 discovery well, the third of four Sidewinder wells to be tested, is now complete. The Sidewinder oil and gas discovery is located in TAG Oil’s Petroleum Exploration Permit 38748 in the Taranaki Basin, New Zealand.  The Sidewinder-4 exploration well was drilled to a depth of 1,410 meters (4,626 feet), targeting a fault-bounded 3-D anomaly identified in the Mt. Messenger Formation. The well was drilled down-dip…

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Cheal-C1 Well Extends Known Mt. Messenger Oil Saturation Area and Encounters Oil in Deeper Wildcat Target

Vancouver, B.C. — June 6, 2011 — TAG Oil Ltd. (TSX-V: TAO) and (OTCQX: TAOIF) is pleased to report that the recently drilled Cheal-C1 exploration well has now set production casing to total depth, in order to production flow test the light oil potential identified in both the Mt. Messenger (~1600m), and the deeper Moki (~2,200m) formation targets. The Cheal-C1 well was drilled directionally from the new “Cheal-C site” in TAG Oil’s Petroleum Mining Permit 38156 (PMP 38156) in the Taranaki Basin, New Zealand.  The Cheal-C1 well was drilled approximately 3.5 km to the…

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TAG Reports Strong Flow Test at Sidewinder-3 Discovery, and On-Track to Produce First Commercial Oil and Gas From Sidewinder Discoveries

Vancouver, B.C. — June 2, 2011 — TAG Oil Ltd. (TSX-V: TAO) and (OTCQX: TAOIF) is pleased to report that the initial flow test of the Sidewinder-3 discovery well is now complete. The Sidewinder-3 well is located in TAG Oil’s 100% controlled Petroleum Exploration Permit 38748 in the Taranaki Basin, New Zealand, where TAG has now drilled four successful discovery wells to date.  Located 1.1 km to the south of the Sidewinder-1 discovery, the Sidewinder-3 well was drilled to a total depth of 2,160 meters (7,085 feet), encountering 15.4 meters (50 feet)…

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TAG Announces Strong Flow Test Result From Multiple Zone Oil Discovery in Cheal-B4ST Exploration Well

Vancouver, B.C. — May 31, 2011 — TAG Oil Ltd. (TSX-V: TAO) and (OTCQX: TAOIF) is pleased to announce that completion and flow testing operations on the Cheal-B4ST discovery well located in PMP 38156, Taranaki Basin, New Zealand, have been completed, and the well has now been placed on permanent production into TAG’s 100%-owned Cheal Production Facility. The Cheal-B4ST vertical exploration well was drilled to a total depth of 1821m (5973 feet), encountering net pay in both the Urenui and Mt. Messenger Formations. Flow rates averaged 400 barrels of oil equivalent (BOE) per…

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TAG Reports Substantial Year-End Reserve Increase to its Taranaki Basin Oil and Gas Fields

Vancouver, B.C. May 18, 2011 – TAG Oil Ltd. (TSX-V: TAO) and (OTCQX: TAOIF) reports that an independent assessment of reserves has been completed as of March 31, 2011 on TAG Oil’s 100%-owned Cheal Mining Permit (PMP 38156) and Sidewinder Exploration Permit (PEP 38748), located in the Taranaki Basin, New Zealand. Sproule International Limited, one of Canada�s largest petroleum engineering consulting companies prepared the report in accordance with definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook (COGE Handbook) and National Instrument 51-101, Standards of Disclosure for Oil and Gas…

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TAG Oil Announces Fifth Exploration Discovery: Sidewinder-4 Well Strikes Oil and Gas Charged Sandstones

Vancouver, B.C. May 6, 2011 – TAG Oil Ltd. (TSX-V: TAO) and (OTCQX: TAOIF) is very pleased to report that the Sidewinder-4 exploration well, located in TAG Oil’s 100%-controlled New Zealand Petroleum Exploration Permit 38748, has been confirmed as a light oil and gas discovery. Along with the three previous Sidewinder discoveries, it is TAG Oil’s fifth exploration success in the Taranaki Basin in the past six months.  The results from the Sidewinder-4 well indicate that the targeted oil-and-gas-charged Mt. Messenger Formation sandstones extend significantly to the east of the Sidewinder-1 discovery well. As noted previously…

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TAG Oil Begins Trading on OTCQX International in the United States

Vancouver, B.C., April 6, 2011 – TAG Oil Ltd. (TSX-V: TAO) and (OTCQX: TAOIF) is pleased to report the company’s common shares have been called to trade on the premier tier of the OTC market in the United States, the OTCQX International. The trading symbol is TAOIF. The OTCQX platform is a highly visible electronic quotation and trading venue in the United States where qualifying companies can enjoy the benefits of increased international exposure without becoming a reporting company with the Securities & Exchange Commission under U.S. securities laws. Trading on the OTCQX International…

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TAG’s Sidewinder-3 Exploration Well Strikes Light Oil & Gas in Taranaki Basin; the Company’s Fourth New Discovery in Five Months

Vancouver, B.C., April 5, 2011 – TAG Oil Ltd. (TSX-V: TAO) and (OTCQX: TAOIF) is pleased to report that the Sidewinder-3 exploration well is confirmed as a light oil and gas discovery, the third discovery made in TAG Oil’s 100%-controlled Petroleum Exploration Permit 38748 in the onshore Taranaki Basin, North Island, New Zealand, and the Company’s fourth new oil and gas discovery in five months.  The Sidewinder-3 exploration well was drilled to a total depth of 2160 meters (7087 feet), targeting a large anomaly identified on 3-D seismic, approximately 1.1 km to the south of the…

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TAG Announces its Third New Light Oil and Gas Discovery in Five Months, in New Zealand’s Taranaki Basin

Vancouver, B.C. – March 14, 2011 – Canadian listed TAG Oil Ltd. (TSX-V, Trading Symbol: TAO) is very pleased to report that the sidetracked Sidewinder-2 well is confirmed as a multi-zone, light oil and gas discovery, encountering 47 meters (154 feet) of high quality, oil-and-gas-bearing sandstones within the Mt. Messenger Formation. This discovery is located in TAG Oil’s 100%-controlled Petroleum Exploration Permit 38748, in the onshore Taranaki Basin, North Island, New Zealand, and is TAG’s third new light oil and gas discovery within the last five months.  The Sidewinder-2 sidetrack well was drilled…

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