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Last C$0.64 CAD
Change Today +0.02 / 3.23%
Volume 26.6K
TAO On Other Exchanges
As of 4:10 PM 11/26/15 All times are local (Market data is delayed by at least 15 minutes).

tag oil ltd (TAO) Snapshot

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52 Week High
02/6/15 - C$1.85
52 Week Low
10/26/15 - C$0.60
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tag oil ltd (TAO) Details

TAG Oil Ltd., together with its subsidiaries, engages in the exploration, development, and production of oil and gas properties in New Zealand. It holds interests in the Taranaki, East Coast, and Canterbury Basins, which cover an area of approximately 2.06 million net acres of land onshore in New Zealand. The company was formerly known as Durum Cons. Energy Corp. and changed its name to TAG Oil Ltd. in June 2002. TAG Oil Ltd. was founded in 1990 and is headquartered in Vancouver, Canada.

23 Employees
Last Reported Date: 06/29/15
Founded in 1990

tag oil ltd (TAO) Top Compensated Officers

Founder and Chairman
Total Annual Compensation: C$243.7K
Chief Financial Officer
Total Annual Compensation: C$244.5K
Vice President of Business Development
Total Annual Compensation: C$156.5K
New Zealand Country Manager
Total Annual Compensation: C$178.0K
Compensation as of Fiscal Year 2015.

tag oil ltd (TAO) Key Developments

TAG Oil Ltd. Reports Earnings Results for the Second Quarter and Production Results for the Second Quarter and Six Months of Fiscal 2016; Records Exploration Impairment for the Second Quarter of Fiscal 2016

TAG Oil Ltd. reported earnings results for the second quarter and production results for the second quarter and six months of fiscal 2016. For the quarter, the company reported total revenue of CAD 7,359,000 compared with CAD 16,179,000 for the same period last year. Net loss before tax was CAD 4,675,000 or CAD 0.08 diluted per share compared with net income before tax CAD 5,147,000 or CAD 0.08 diluted per share for the same period last year. Capital expenditures was CAD 2,755,000 compared with CAD 11,126,000 for the same period last year. Operating cash flow was CAD 1,263,000 compared with CAD 9,702,000 for the same period last year. Total revenue decrease by 29% is mainly due to a 41% decrease in oil revenues due to a 24% decrease in average Brent oil prices and a 23% decrease in oil sales volumes. For the quarter, the compared reported oil was 930 bbl/d compared with 1,437 bbl/d for the same period last year. Natural gas was 411 BOE/d compared with 408 BOE/d for the same period last year. Net production volumes was 1,341 bbl/d compared with 1,845 bbl/d for the same period last year. For the six months, the compared reported oil was 1,082 bbl/d compared with 1,367 bbl/d for the same period last year. Natural gas was 433 BOE/d compared with 431 BOE/d for the same period last year. The company recorded exploration impairment of CAD 2,740,000 for the second quarter of fiscal 2016.

TAG Seeks Acquisitions

Toby Pierce, Chief Executive Officer of TAG Oil Ltd. (TSX:TAO) said, "TAG is prepared to utilize its operating cash flows and balance sheet to diligently pursue strategic acquisitions and exploration opportunities to enhance shareholder value." and Evaluate acquisitions in New Zealand and Australia to increase the TAG's portfolio of exploration and production opportunities.

TAG Oil Ltd. Provides Production and Financial Guidance for Fiscal 2016

TAG Oil Ltd. is cutting its forward guidance and planned capital expenditures for the remainder of fiscal 2016 in response to the low commodity price environment, and due to a slower than expected ramp up of its workover program in the Taranaki Basin of New Zealand. The company is reducing its 2016 average production guidance down from 1,900 BOE/d to 1,400 BOE/d and expects to exit its fiscal 2016 year-end at approximately 1,400 BOE/d. The company is reducing its 2016 forecast capital expenditures down from $23 million to approximately $13 million with $6 million already spent. Full year 2016 operating cash flow is expected to be approximately $13 million versus the $22 million forecast at the beginning of the year.


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