TAG Oil News

2017 News

TAG Oil Reports FY2017 Results

Vancouver, B.C. – June 29, 2017 – TAG Oil Ltd. (the “Company” or “TAG Oil”) (TSX: TAO and OTCQX: TAOIF) is pleased to report the annual and fourth quarter results for the fiscal year ending March 31, 2017. Specifically, the Company successfully increased its total gross proven plus probable (“2P”) reserves for FY2017, while also increasing its oil and gas production, revenue from sales and operating netbacks during the quarter. TAG Oil continues to remain well organized and focused on its core producing operations, which have demonstrated substantial upside potential…

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TAG Oil Announces an Increase in FY2017 Independent Reserves Results

Vancouver, B.C. – June 20, 2017 – TAG Oil Ltd. (the “Company” or “TAG Oil”) (TSX: TAO and OTCQX: TAOIF) confirms that ERC Equipoise Ltd. (“ERC”), 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 interests within the Cheal (PMP 38156), Cheal East (PEP 54877) and Sidewinder (PMP 53803) permits, dated and effective March 31, 2017. ERC has assigned a pre-tax net present value of $82.12 million (FY2016: $45.92 million), using a…

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TAG Oil Completes Payment of Dividend of Common Shares of Coronado Resources Ltd.

Vancouver, B.C. – May 25, 2017 – TAG Oil Ltd. (the “Company” or “TAG Oil”) (TSX: TAO and OTCQX: TAOIF) announces that the Company has completed the distribution of its approximately 2,785,029 Coronado Resources Ltd.’s (“Coronado”) common shares (the “Coronado Shares”) to its shareholders of record (the “Dividend”) at the close of business on May 9, 2017 (the “Record Date”). TAG Oil’s shareholders received approximately 0.0326 of a Coronado Share for each common share of TAG Oil held as of the Record Date. The 2,785,017 Coronado Shares distributed by the…

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TAG Oil Announces Success at the Cheal-E8 Exploration Well

Vancouver, B.C. – May 24, 2017 – TAG Oil Ltd. (the “Company” or “TAG Oil”) (TSX: TAO and OTCQX: TAOIF) is pleased to announce the successful drilling and flow testing of the Cheal-E8 exploration well, which will now be tied-in to TAG Oil’s existing infrastructure as a permanent producer. The Cheal-E8 well was drilled on TAG Oil’s 70% working interest and operated Cheal East permit (PEP 54877) in the Taranaki Basin of New Zealand. The well was drilled and completed on time and on budget to a total measured depth…

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TAG Oil Announces Dividend of Common Shares of Coronado Resources Ltd.

Vancouver, B.C. – April 28, 2017 – TAG Oil Ltd. (the “Company” or “TAG Oil”) (TSX: TAO and OTCQX: TAOIF) announces that the Company will distribute approximately 2,785,029 common shares of Coronado Resources Ltd. (the “Coronado Shares”) to its shareholders of record (the “Dividend”) at the close of business on May 9, 2017 (the “Record Date”). The ex-distribution date will be May 5, 2017, and the payment or distribution date of the Dividend will be on or about May 25, 2017. Upon completion of the Dividend, TAG Oil’s shareholders will…

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TAG Oil Announces FY2018 Capital Budget and Guidance

Vancouver, B.C. – April 19, 2017 – TAG Oil Ltd. (the “Company” or “TAG Oil”) (TSX: TAO and OTCQX: TAOIF) announces that the capital budget for the Company’s 2018 fiscal year (April 1, 2017 to March 31, 2018) will be up to approximately C$27.4 million, which will be funded entirely by forecasted cash flow and working capital on hand. A further C$8.4 million of incremental capital expenditures are contingent mainly on the status of locating suitable joint venture or farm-in partners and notable improvements in oil prices. Farm-out discussions have…

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TAG Oil Provides Update on Operations in the Taranaki Basin of New Zealand

Vancouver, B.C. – March 22, 2017 – TAG Oil Ltd. (the “Company” or “TAG Oil”) (TSX: TAO and OTCQX: TAOIF) is pleased to provide the following update of its operations in the Taranaki Basin of New Zealand. Net production to TAG from its Cheal and Sidewinder fields has recently averaged approximately 1,300 boe/d (~80% oil) over February 2017. PMP 38156 (Cheal and Cardiff, 100% TAG) Clean up and testing operations are continuing on the Cardiff-3 well, which continues to flow intermittently at rates of 200 boe/d. TAG is planning several upcoming…

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TAG Oil Closes Short-Form Prospectus Offering of Approximately $15 Million

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. Vancouver, B.C. – March 20, 2017 – TAG Oil Ltd. (the “Company” or “TAG Oil”) (TSX: TAO and OTCQX: TAOIF) is pleased to announce that it has closed the previously announced short form prospectus offering for aggregate gross proceeds of C$14,995,500 (the “Offering”). Pursuant to an agency agreement dated effective as of February 15, 2017, the Company, through a syndicate of agents co-led by Mackie Research Capital Corporation and Pareto Securities Ltd., and including Eight Capital, GMP Securities L.P., Roth…

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TAG Clarifies Technical Disclosure

Vancouver, B.C. – March 10, 2017 – TAG Oil Ltd. (the “Company” or “TAG Oil”) (TSX: TAO and OTCQX: TAOIF) announces that, as a result of a review by the British Columbia Securities Commission and the Alberta Securities Commission in connection with the Company’s previously announced short form prospectus offering, the Company is issuing this news release to clarify and retract certain technical disclosure. The news releases of the Company issued on December 6, 2016 and February 15, 2017, as well as the short form prospectus marketing materials dated February…

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TAG Oil Announces Upsize of Short-Form Prospectus Offering

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. Vancouver, B.C. – February 21, 2017 – TAG Oil Ltd. (the “Company” or “TAG Oil”) (TSX: TAO and OTCQX: TAOIF) is pleased to announce that, further to its press release on February 15, 2017, due to strong demand, the Company has increased the size of its previously announced short form prospectus offering (the “Offering”) to up to 23,070,000 units (“Units”) of the Company at a price per Unit of C$0.65 for aggregate gross proceeds of up to C$15,000,000. The Offering is being…

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