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Last $1.38 USD
Change Today -0.03 / -2.13%
Volume 5.1K
TAOIF On Other Exchanges
As of 1:39 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

tag oil ltd (TAOIF) Snapshot

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52 Week High
07/2/14 - $2.69
52 Week Low
03/16/15 - $1.00
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tag oil ltd (TAOIF) Details

TAG Oil Ltd., together with its subsidiaries, is engaged in the exploration, development, and production of oil and gas properties in New Zealand. The company owns interests in the Taranaki Basin covering an area of approximately 30,816 net acres located on the North Island of New Zealand; and the Canterbury Basin that covers an area of approximately 1.17 million acres of conventional and unconventional targets located on the South Island of New Zealand. It also holds a 100% working interest in three exploration permits covering an area of approximately 1.42 million acres; and a 60% working interest in one joint ventured exploration permit totaling 106,111 acres in the East Coast Basin of 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.

21 Employees
Last Reported Date: 06/30/14
Founded in 1990

tag oil ltd (TAOIF) Top Compensated Officers

Founder, Chairman and Interim Chief Executive...
Total Annual Compensation: C$240.0K
Chief Financial Officer
Total Annual Compensation: C$77.0K
Vice President of Business Development
Total Annual Compensation: C$156.5K
Compensation as of Fiscal Year 2014.

tag oil ltd (TAOIF) Key Developments

TAG Oil Ltd. Appoints Frank Jacobs as Chief Operating Officer

TAG Oil Ltd. announced the appointment of Frank Jacobs to the post of Chief Operating Officer. Mr. Jacobs has more than 35 years of experience in the oil and gas industry that includes operations management from concept to full-scale field development, numerous production and corporate acquisitions, and development of existing oil and gas production. Mr. Jacobs has enjoyed a successful career as an international oil and gas executive and has worked extensively in Australia, SE Asia, North and South America, and New Zealand. Most recently, Mr. Jacobs was based in Kuala Lumpur leading the field development, project funding and technical team for the USD 135 million Ophir oil field development project offshore Malaysia. Mr. Jacobs has extensive experience in the management of production assets, as well as a long list of successful production and corporate acquisitions to his credit over the span of his career.

TAG Oil Ltd. provides Updates on New Zealand Production and Operations

TAG Oil Ltd. provided update on the company's Taranaki Basin oil and gas production, operations, and coming drilling activity. Average oil and gas production (primarily from the Cheal oil field) for the first 15 days of April, 2015, was 2,252 BOE/d (gross) or 1,970 BOE/d (net), an increase of 116 BOE/d (gross) and 127 BOE/d (net) over March production. Fiscal year-to-date, up to March 31, 2015 oil and gas production is estimated to have averaged 2,118 BOE/d (gross) or 1,856 BOE/d (net). TAG's average per barrel operating cost is approximately USD 26 per BOE, and the company's oil is sold on the premium Brent oil index. The Cheal oil field continues to provide TAG with a stable, high-netback production base and long-life reserves, with revenue capable of funding drilling costs while building production and reserves. TAG plans to fully develop the 100% controlled Cheal oil and gas field, which has been substantially de-risked by the 36 wells drilled to date across the field. Permit-wide 3D seismic coverage indicates the entire Cheal permit area is target rich, with more than 70 development drilling locations that have been identified and high graded. Encouraging results continue to be achieved at Cheal including in the Cheal East area, where the naturally free flowing Cheal-E1 well (TAG: 70%) has been producing gross volumes of 500 to 600 boe/d (82% oil) on choke for 16 months. With drilling and completion costs of under USD 3 million per well, it gives an indication of the unrecognized upside and robust economic potential that exists within TAG's acreage.TAG's 100% controlled mining permit, PMP 38156, where the company's Cheal oil field is located, also contains the large Cardiff structure of the deeper Kapuni Group formations, which is on trend and geologically similar to the large legacy deep gas condensate fields that have been discovered in the Taranaki Basin. The Sidewinder acreage provides TAG with the opportunity to potentially develop another field similar to Cheal and the adjacent the Ngatoro/Kaimiro field, which is a 60 million barrel oil field and is a close analogue to the potential contained within TAG's Sidewinder acreage and TAG's Cheal field. TAG has now assembled a 22,000 acre exploration play area around its Sidewinder gas discovery and plans to commence drilling of the SW-1B and SW-2B wells later in the year. Both wells will target oil-prone prospects in the Miocene-aged, Mt. Messenger formation at approximately 2,000 meters depth. To date, TAG has drilled seven shallow gas wells on the Sidewinder A site, however these new wells will target the oil potential identified within the Sidewinder B area.

TAG Oil Ltd. Names Alex Guidi as Interim Chief Executive Officer

TAG Oil Ltd. announced that Mr. Alex Guidi has been appointed as interim Chief Executive Officer. Mr. Guidi is a significant shareholder in TAG, and his oil and gas investments in New Zealand date back to 1993 when he founded Indo-Pacific Energy Corp. and Trans-Orient Petroleum Ltd. TAG's New Zealand Country Manager and 30-year oil and gas industry veteran Max Murray, will be reporting directly to Mr. Guidi.


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Price/Sales 1.9x
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