TAG Oil Ltd. V.TAO

Alternate Symbol(s): TAOIF

Energy Oil & Gas E&P

TAG Oil Ltd. is an international oil and gas exploration company with a focus on operations and opportunities in the Middle East and North Africa. It holds an interest in the Badr Oil Field (BED-1), a 26,000-acre concession located in the Western Desert, Egypt, through a production services agreement (the 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 its phase I development program of Abu Roash F (ARF) reservoir in BED-1. The BED 1-7 well started oil production from the ARF reservoir. Its Field Development Plan (FDP), consisting of drilling 20 horizontal wells to be completed with multi-stage fracture stimulation, is focused on the east central part of the BED-1 concession area and contains OIIP P50 volumes of 178.3 million barrels and mean volumes of 179.0 million barrels. Its subsidiaries include TAG Energy International Ltd., CX Oil Limited, and others.

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TAG Oil Ltd.

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Post by kanerfalkon Jun 06, 2011 10:26pm

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Post# 18678797

NEWS - Cheal-C1

TAG'S CHEAL-C1 WELL EXTENDS KNOWN MT. MESSENGER OIL SATURATION AREA AND ENCOUNTERS OIL IN DEEPER WILDCAT TARGET
TAG's Cheal-C1 Well Extends Known Mt. Messenger Oil Saturation Area and Encounters Oil in Deeper Wildcat Target
Canada NewsWire
VANCOUVER, June 6, 2011
VANCOUVER, June 6, 2011 /CNW/ - TAG Oil Ltd. (TSX-V: TAO) and (OTCQX: TAOIF) is pleased to report that the recently drilled Cheal-C1 exploration well has now set production casing to total depth, in order to production flow test the light oil potential identified in both the Mt. Messenger (~1600m), and the deeper Moki (~2,200m) formation targets. The Cheal-C1 well was drilled directionally from the new "Cheal-C site" in TAG Oil's Petroleum Mining Permit 38156 (PMP 38156) in the Taranaki Basin, New Zealand.
The Cheal-C1 well was drilled approximately 3.5 km to the northwest of the existing Mt. Messenger producing wells, with results extending the Mt. Messenger oil saturation area over a considerably larger area than previously known. Over 15 meters of net oil-and-gas bearing sandstones were intercepted in the Mt. Messenger with good porosity and free oil encountered while drilling through the zone.
The Mt. Messenger was the primary objective of the Cheal-C1 well however it was deepened to a total depth of 2382 meters (7815 feet), to test the down-dip edge of a large closure within the deeper Moki Formation. Strong oil and gas shows were encountered within a 73-metre thick, high quality section of porous and permeable sandstone. Any future wells directly targeting this Moki Formation structure will be drilled in an updip position, which could potentially intersect substantially more of the hydrocarbon-charged Moki sandstones.
"We are very pleased to have extended the Mt. Messenger play into the "C" block, and look forward to further exploiting this oil-prone area." TAG Oil CEO Garth Johnson commented. "We're also very optimistic about the Moki Formation discovery potential, which is a prolific oil producer in the offshore Maari oil field. However, very few wells have targeted this formation onshore so we will need flow-test data before any conclusions are reached in regards to its commercial potential."
For further information on the Petroleum Mining Permit 38156 in the Taranaki Basin, please visit TAG Oil's website. (https://www.tagoil.com/operations.asp)

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