Profile: TAG Oil Ltd (TAOIF.PK)
1 May 2015
Tag Oil Ltd. (Tag Oil), incorporated on December 12, 1990, is a Canada-based company engaged in the development and exploration of international oil and gas properties. The Company is an oil and gas producer and explorer with assets in the Taranaki, East Coast and Canterbury Basins of New Zealand. As of September 30, 2014, the Company controlled land holdings, consisting of oil and gas permits amounting to 2.8 million net acres of land onshore and 30,816 net acres offshore. Tag Oil operates in three industries: petroleum exploration and production, electricity generation and retailing, and mining.
The Taranaki Basin is an emerging oil, gas and condensate province located on the North Island of New Zealand. As of September 30, 2014, Taranaki Basin covered an area of about 100,000 square kilometers. As of September 30, 2014, its proven Taranaki oil reserves were of 534 million barrels, and proven gas reserves of 7.3 trillion cubic feet. Within the Taranaki Basin, the Company holds a range of working interests, including 100% interest in the Cheal PMP 38156 and the Sidewinder PMP 53803 mining permits; 100% interest in the Sidewinder PEP 38748 and PEP 55769 exploration permits; 100% interest in the Heatseeker PEP 54873 exploration permit; 70% interest in the Cheal North East PEP 54877 exploration permit; 50% interest in the Southern Cross PEP 54876 and Cheal South PEP 54879 exploration permits, and 40% interest in the Kaheru Offshore PEP 52181 exploration permit.
East Coast Basin
At September 30, 2014, the Company controlled a 100% working interest in three exploration permits totaling 1.42 million acres (PEP 38348, 38349, 53674) in East Coast Basin. It also holds a 60% working interest in one joint ventured exploration permit totaling 106,111 acres (PEP 55770) in the East Coast Basin of New Zealand.
The Canterbury Basin is a frontier basin on New Zealand's South Island, with a proven onshore and offshore hydrocarbon system. The Company controls 1.17 million acres of conventional and unconventional targets in a permit (PEP 52589) that spans onshore as well as shallow offshore, with water less than 100 meters deep. The onshore/offshore permit is located within the migration pathway of a proven working hydrocarbon system.
TAG Oil Ltd
885 Georgia St W Suite 2040
VANCOUVER BC V6C 3E8