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TAG Oil provides Taranaki basin results


Published Jun 26, 2012
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Tag Oil makes oil discovery at Cheal step out well

TAG Oil Ltd. provided a Taranaki Basin drilling and operations update. This update is being provided prior to TAG's year-end results, which will include an independent assessment on proven, probable and possible reserves, and is expected to be announced on June 29, 2012.

Current daily production is approximately 2,600 to 2,800 barrels of oil equivalent per day ("BOE"). The split between oil and natural gas is currently approximately 57 percent oil to 43 percent gas until such time as the enhancements to Cheal's artificial lift capabilities are completed, allowing oil currently held behind-pipe to flow.

Tags: TAG Oil Ltd.



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