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TAG Oil Ltd. V.TAO

Alternate Symbol(s):  TAOIF

TAG Oil Ltd. is a Canadian-based international oil and gas exploration company. The Company is focused on oil and gas exploration and development opportunities in the Middle East and North Africa (MENA). In the Western Desert of Egypt, it is developing the unconventional heavy oil Abu Roash F (ARF) formation in the Badr oil field (BED-1). It holds an interest in the Badr Oil Field (BED-1), a 26,000 acres concession located in the Western Desert, Egypt, through a Production Services Agreement (PSA) with Badr Petroleum Company (BPCO). It is focused on BED-1 the re-completion and evaluation operations of the BED 1-7 vertical well. These initial operations are part of TAG’s phase 1 development program of ARF reservoir in BED-1. The BED 1-7 well started oil production from the ARF reservoir. Its subsidiaries include TAG Energy International Ltd., TAG Petroleum Egypt Ltd. (Cyprus), TAG Petroleum Egypt Ltd. (Egypt Branch), TAG Oil (NZ) Limited, Trans-Orient Petroleum Ltd and others.


TSXV:TAO - Post by User

Bullboard Posts
Comment by Jman1076on Jun 30, 2014 7:51pm
317 Views
Post# 22707020

RE:financials looking good and future is bright

RE:financials looking good and future is brightI think the key paragraph is: TAG's current average daily gross production is approximately 1,970 BOE/d per day (1,750 BOE/d net to TAG) with 75% of the production being oil. It is expected that current production levels can be maintained during the year, based on established decline rates offset by the Company's intended 2015 shallow Taranaki development drilling program. At the present time, TAG has identified 50 shallow step-out and development drilling locations on the Company's Taranaki acreage, which is a five year inventory based on the current pace of drilling. With the above being said I don't think it is as bullish as we hoped.
Bullboard Posts