TAG Oil, Ltd. engages in the exploration, development, and production of oil and gas properties in New Zealand. The company focuses on completing the acquisition of the remaining 69.5% interest in the Cheal field. As of March 30, 2009, there are six wells producing at the Cheal oil field. The company has 100% control over a 7,910-acre permit, which immediately offsets various Taranaki oil and gas fields, including company's 100%-owned Cheal oil and gas discovery to the south. On January 26, 2010, TAG Oil Ltd. announced that the company has been awarded a 100% interest in a 61,900-acre permit extension to its PEP 38349 permit, located in the southern portion of the onshore East Coast Basin, New Zealand. When combined with the original PEP 38349, this extension creates a combined 1,695,266-acre exploration area and a total 100% controlled position of 2,399,714 acres within the basin. The company has completed the acquisition of a 20% interest in offshore exploration Permit PEP 52181, which covers a 42,379-acre area in the main Taranaki oil and gas discovery fairway. Significant Events In September 2011, TAG Oil Ltd. reported that it has entered into a farmout agreement with Apache Corporation to explore and potentially develop oil and natural gas resources in the East Coast Basin of New Zealand. Apache has agreed to conduct a multi-phased exploration, appraisal and potential development program within TAG's East Coast Basin exploration permits PEP 38348, PEP 38349, and PEP 50940 (the Permits). History TAG Oil, Ltd. was founded in 1990.
tag oil ltd (TAO:Toronto Stock Exchange)
885 West Georgia Street
Vancouver, BC V6C 3E8
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