Profile: TAG Oil Ltd (TAOIF.PK)
Tag Oil Ltd., incorporated on December, 12, 1990, is engaged in petroleum exploration and production. The Company is a oil and gas producer and explorer with assets consisting of approximately 3 million acres of land onshore in the Taranaki, East Coast and Canterbury Basin’s of New Zealand and 30,816 (77,039 gross acres) offshore in the Taranaki Basin. The Company’s principal activity is the development and exploration of international oil and gas properties. It is in the process of exploring, developing and producing from its oil and gas properties and has two oil and gas properties that contain reserves that are recoverable. The Company’s oil and gas properties are located in New Zealand and its interests in these properties are maintained pursuant to the terms of exploration and mining permits granted by the national government.
East Coast Basin
The Company controls a 100% working interest in approximately five (one permit is on the South Island) exploration permits totaling approximately 1.74 million acres on the East Coast of the North Island of New Zealand. The Company has acquired proprietry 2D seismic data, completed geological surface and sub-surface studies and has drilled a number of stratigraphic wells within three of the permits.
The Canterbury Basin is a frontier basin on New Zealand's South Island, with a proven onshore and offshore hydrocarbon system. The Company completed an 80 kilometers 2D seismic survey and a 100 kilometers magnetic data acquisition and is continuing to analyze the data with initial results looking promising. At the time of this report the Company has evaluated the 2D seismic data and has identified a number of leads and prospects within the permit.
The Taranaki Basin is an emerging oil, gas and condensate province located on the North Island of New Zealand. The Basin remains under explored compared to many comparable rift complex basins of its size and potential. Although the Taranaki Basin covers an area of about 100,000 square kilometers. The Company has acquired a amount of data from seismic and drilling during its recent drilling campaign in Taranaki.
TAG Oil Ltd
885 Georgia St W Suite 2040
VANCOUVER BC V6C 3E8