TAG Oil News

2016 News

TAG Oil Reports Q1 2017 Results and Updates Recent Activities

Vancouver, B.C. – August 15, 2016 – Oil and gas exploration and production company, TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to report first quarter results for the fiscal year ending March 31, 2017, in which the Company has continued with its strategy to preserve capital by continuing to reduce its capital expenditures and focus on field optimization opportunities, prospect generation and capitalize on distressed asset acquisitions. Oil and gas production has continued to be steady and is above guidance with a current net daily average rate…

Read More >

TAG Oil Reports FY2016 Results

Vancouver, B.C. – June 29, 2016 – TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to report the results for the fiscal year ending March 31, 2016, in which the Company has successfully implemented and adjusted its growth strategy in light of low oil pricing. TAG has preserved capital, reduced costs, substantially strengthened its technical and operating capability, while also maintaining consistent revenue and stable production with a focus on low cost field optimizations. Capital expenditures for FY2016 were cut back significantly as TAG Oil focused on its…

Read More >

TAG Oil FY2016 Conference Call information & Corporate Update

Vancouver, B.C. – June 21, 2016 – TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to announce that Mr. Henrik Lundin is commencing his position as TAG Oil’s Chief Operating Officer on June 27, 2016, and will be based in the Company’s operations’ office in New Plymouth, New Zealand. Toby Pierce, CEO commented, “We are very excited to welcome Henrik to TAG as our new COO, and are looking forward to Henrik hitting the ground running. He will provide a strong foundation and the requisite guidance to the…

Read More >

TAG Oil Announces FY2016 Independent Reserves Results

TAG Oil confirms that Sproule has completed its independent reserves assessment on the Company’s interests within the Cheal oil and gas producing permits, dated March 31, 2016. Sproule International Limited has assigned a pre-tax net present value of $45.9 million (FY2015: $114.7 million), using a 10% discount rate to net working-interest proven + probable (“2P”) reserves.

Read More >

TAG Oil Announces New Zealand Development and Exploration Acquisition

Vancouver, B.C. – June 6, 2016 – TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to announce it has acquired a 70% working interest and operatorship of the PEP 51153 (“Puka”) onshore permit in the Taranaki Basin of New Zealand. TAG’s joint venture partner in the Puka permit is MEO Australia Limited (30%). The Puka permit covers an area of approximately 85 square km (21,000 acres) and is located to the east of TAG’s producing Cheal field. Three wells have been drilled since the Puka oil field was…

Read More >

TAG Oil Announces FY2017 Capital Budget and Guidance

Vancouver, B.C. – April 14, 2016 – TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) announces that its capital budget for the Company’s 2017 fiscal year (April 1, 2016 to March 31, 2017) will be approximately $7.6 million, which will be funded entirely by forecasted cash flow and working capital on hand. A further $4.6 million of incremental capital expenditures are contingent on oil prices improving significantly. While oil prices appear to be strengthening since hitting 12-year lows earlier this year, TAG’s primary goal is to conservatively manage its balance…

Read More >

TAG Oil Provides Corporate Update

Vancouver, B.C. – April 7, 2016 – TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) announces that its Chief Financial Officer, Chris Ferguson, has submitted his resignation to pursue other opportunities, but will continue in his respective role during a transition period to support the appointment of Barry MacNeil who will be replacing Mr. Ferguson on an interim basis. Mr. MacNeil is a qualified Chartered Professional Accountant who has more than 20 years of accounting experience in public and private practice. He has worked as a corporate accountant for a…

Read More >

TAG Oil Provides Preliminary Year End Results

Vancouver, B.C. – April 7, 2016 – TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to report preliminary results for its fiscal 2016 year ending March 31, 2016 as follows: The Company exited the fiscal year with $15.3 million in cash and cash equivalents with no debt and 62,212,252 common shares outstanding. Over the course of the fiscal year ending March 31, 2016, the Company achieved average gross daily production of 1,585 BOE/D (72% oil), and average net daily production of 1,390 BOE/D (74% oil). Capital expenditures totalled…

Read More >

TAG Oil Provides Operations Update

Vancouver, B.C. – March 22, 2016 – TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) announces that the operator of the offshore Kaheru permit (New Zealand Oil & Gas) has submitted an application to the regulator to surrender the permit on behalf of the PEP 52181 joint venture, upon which TAG holds...

Read More >

TAG Oil Announces Cancellation of Share Options

Vancouver, B.C. – March 11, 2016 – TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) announces that it has cancelled 1,155,000 share options, which were previously granted to insiders of the Company, by mutual agreement between the Company and each of the optionees. The share options were originally granted between July, 2011, and December, 2013, and were exercisable at prices ranging from $5.00 to $7.00 for a period of five years from the date of grant. << Back to News TAG Oil Ltd. TAG Oil Ltd. (https://tagoil.com/) is a development-stage…

Read More >