TAG Oil Ltd. (TSXV: TAO and OTCQX: TAOIF) is pleased to report the filing of its annual and fourth quarter results for the fiscal year ending March 31, 2020 and to provide the following corporate update:
About TAG Oil Ltd.
TAG Oil Ltd. (https://tagoil.com/) is a Canadian based international oil and gas explorer with exploration and production assets in Australia and royalty interests in New Zealand.
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Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Certain of the statements made and information contained herein is considered “forward-looking information” within the meaning of applicable Canadian securities laws, including statements with regard to the expected date of the filing of the Company’s Annual Financial Statements and MD&A, and receiving royalty and milestone payments . These statements address future events and conditions and are reliant on assumptions made by the Company’s management, and so involve inherent risks and uncertainties, as disclosed in the Company’s periodic filings with Canadian securities regulators. As a result of these risks and uncertainties, and the assumptions underlying the forward-looking information, actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement, except as required by applicable law.
TAG has adopted the standard of six thousand cubic feet of gas to equal one barrel of oil when converting natural gas to “boes” that may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.