TAG Oil News

2011 News

TAG Announces New Light Oil Discovery, Taranaki Basin, New Zealand

Vancouver, B.C. – March 3, 2011 – Canadian listed TAG Oil Ltd. (TSX-V, Trading Symbol: TAO) is very pleased to report that the Cheal-B4ST well is a multi-zone light oil discovery. The Cheal-B4ST well is located in TAG Oil’s 100%-controlled Petroleum Mining Permit 38156 (PMP 38156), in the Taranaki Basin, North Island New Zealand.  Cheal-B4ST was drilled to a total depth of 1810 meters (5937 feet), encountering 17 meters (55.7 feet) of net oil-bearing sandstones within the Urenui and Mt. Messenger Formations. Electric logs indicate four separate zones are likely to be…

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TAG Oil Reports Strong Third-Quarter Results and Operational Highlights

Vancouver B.C. – March 1, 2011 – TAG Oil Ltd., a New Zealand-focused oil production and exploration company listed on the TSX Venture Exchange in Canada (trading symbol “TAO“), is pleased to provide an operational update, and to advise that the Company has filed its third-quarter financial report for the period ended December 31, 2010. All figures are in Canadian dollars unless otherwise noted. TAG Oil Recent Highlights: Q3 production revenue of $3.85 million, up 60% over last quarter (nine months: $8.08 million up 71% from same period last year)…

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TAG Oil Begins Cheal Field Drilling: First of Several Wells Targets Production and Reserve Growth

Vancouver, B.C. – February 15, 2011 – Canadian listed, New Zealand oil and gas producer TAG Oil Ltd. (TSX-V: TAO), reports that the Company is now commencing an aggressive drilling campaign targeting the shallow formations at the 100%-controlled Cheal oil and gas field. The Cheal discoveries are located in the lightly explored Petroleum Mining Permit 38156 in the onshore Taranaki Basin, New Zealand. Following on from TAG’s initial multi-zone Cheal discoveries, which are currently producing light oil and gas from the main producing Mt. Messenger Formation (~1800m) as well as the…

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TAG Oil Grants Stock Options

Vancouver, B.C. – February 8, 2011 – TAG Oil Ltd. (TSX-V: TAO) reports that the Company has granted a total of 1,255,000 incentive stock options to certain directors, officers, employees and consultants pursuant to its incentive stock option plan. These options are exercisable until February 8, 2016, at a price of $7.15 subject to vesting over a period of eighteen months. Contact: Dan Brown or Garth Johnson TAG Oil Ltd., 1-604-682-6496 Website: https://tagoil.com/ Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the…

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TAG Oil Begins Drilling Sidewinder-2: First in Series for New Discovery

Vancouver, B.C. – February 1, 2011 – Canadian listed, New Zealand oil and gas producer TAG Oil Ltd. (TSX-V: TAO), announced that the Sidewinder-2 well is scheduled to begin drilling operations on February 7, 2011. This is the first of several appraisal and exploration wells to be drilled in the 7910-acre (12 section), 100% TAG-controlled Petroleum Exploration Permit 38748 (“PEP 38748”) in New Zealand’s Taranaki Basin. Following the success of the gas-rich Sidewinder-1 discovery, the Sidewinder-2 and 3 wells will be drilled to a depth of approximately 2400 meters, targeting…

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TAG Oil Announces Cheal Horizontal Well Success and Commercialization of Sidewinder Oil and Gas Discovery

Vancouver, B.C. – January 6, 2011 – Canadian listed, New Zealand oil and gas producer TAG Oil Ltd. (TSX-V: TAO) reported today that ongoing production testing of the 100%-controlled Cheal-BH-1 horizontal well in the Taranaki Basin of New Zealand continues with positive results. To date, a conservative range of low draw-down configurations has been tested, with associated production rates ranging from 400 to 500 barrels of oil equivalent (BOE) per day (predominantly oil) with no water. In coming months, TAG will further test the full production capabilities of the Cheal-BH-1…

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