Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/tag-oil-increases-exploration-interests-in-taranak.shtmlTAG Oil increases exploration interests in Taranaki Basin
TAG Oil Ltd. says that New Zealand Petroleum and Minerals has awarded the Company 100% interest in two new onshore Taranaki Basin permits:
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TAG Oil Ltd. says that New Zealand Petroleum and Minerals has awarded the Company 100% interest in two new onshore Taranaki Basin permits: Petroleum Exploration Permit 57065 (Sidewinder North) and Petroleum Exploration Permit 57063 (Waiiti).
Both permits, which add a combined 36,781 acres to TAG's Taranaki Basin exploration portfolio, are situated in a prolific oil and gas production fairway in close proximity to producing oil and gas fields. Together with the Company's existing permits, TAG now operates ten exploration and production permits in the Taranaki Basin, and a total of sixteen permits including a 40% interest in shallow water offshore Taranaki as well as interests in the East Coast and Canterbury Basins.
This new acreage is strategic to TAG while also being highly complementary to TAG's existing producing operations, production infrastructure and pipeline network, enabling the Company to commercialize future wells in an expeditious manner.
