TAG Oil News

2016 News

TAG Oil Reports Successful Supplejack-1 Well Test

Vancouver, B.C. – November 8, 2016 – Oil and gas exploration and production company, TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF, “TAG”), is pleased to announce preliminary test results from the Supplejack-1 well located in TAG’s PEP 57065 permit in the Taranaki Basin of New Zealand. Testing of the Supplejack-1 well commenced on November 2, 2016 and tested at flow rates of over 7 mmscf/d before being restricted due to equipment constraints. Wellhead pressures during the test were sustained at over 1,000 psi. Testing of the well will continue…

Read More >

TAG Oil Announces Election of Board of Directors

Vancouver, B.C. – November 1, 2016 – Oil and gas exploration and production company, TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF, “TAG”), is pleased to announce the results from its 2016 annual general meeting of shareholders (the “Meeting”) held in Vancouver, B.C. on October 31, 2016. All six of the nominees listed in TAG’s management information circular dated September 27, 2016, that were proposed by management for election to the board of directors at the Meeting were duly elected. The directors will remain in office until the next annual…

Read More >

TAG Oil Announces Definitive Agreement to Acquire Assets Located in Australia’s Surat Basin

Vancouver, B.C. – October 31, 2016 – Oil and gas exploration and production company, TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF, “TAG”), is pleased to announce that its wholly owned Australian subsidiary, Cypress Petroleum Pty Ltd. (“Cypress”), has entered into a definitive asset purchase agreement (the “Definitive Agreement”) with Southern Cross Petroleum & Exploration Pty Ltd. (“Southern Cross”), to acquire a 100% interest, subject to underlying royalties, in Petroleum Lease 17 (“PL 17”) and all related assets, which are located in Australia’s Surat Basin. The Definitive Agreement is subject…

Read More >

TAG Oil Updates Recent Operational Activities

Vancouver, B.C. – September 29, 2016 – Oil and gas exploration and production company, TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF, “TAG”), is pleased to provide the following update on its operations in the Taranaki Basin of New Zealand. Sidewinder Production (100% TAG) As reported in TAG’s August 15, 2016 press release, a low-cost recompletion to an existing wellbore at Sidewinder demonstrated the potential of a previously unproduced oil leg following testing. Since August 18, 2016, when equipment was installed allowing for 24-hour oil production, the well has been…

Read More >

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 >