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 09, 2011 9:07am

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Post# 18691989

NEWS

STRONG FLOW TEST RESULTS FOR TAG OIL'S SIDEWINDER-4 WELL, SIDEWINDER-2 FLOW TESTING UNDERWAY
Strong Flow Test Results for TAG Oil's Sidewinder-4 well, Sidewinder-2 Flow Testing Underway
Canada NewsWire
VANCOUVER, June 9, 2011
VANCOUVER, June 9, 2011 /CNW/ - TAG Oil Ltd. (TSX-V: TAO) and (OTCQX: TAOIF) is pleased to report the initial flow testing of the Sidewinder-4 discovery well, the third of four Sidewinder wells to be tested, is now complete. The Sidewinder oil and gas discovery is located in TAG Oil's Petroleum Exploration Permit 38748 in the Taranaki Basin, New Zealand.
The Sidewinder-4 exploration well was drilled to a depth of 1,410 meters (4,626 feet), targeting a fault bounded 3-D anomaly identified in the Mt. Messenger Formation. The well was drilled down-dip of Sidewinder-3 and encountered 19 meters of net oil-and-gas-charged sandstones, with no water column evident. A 4-Point Isochronal test achieved stabilized flow rates of 6.98 million cubic feet per day (~1163 BOE per day) with a 25% drawdown. These results are consistent with the other Sidewinder oil and gas discovery wells tested to date, as summarized below:
Sidewinder Discovery Flow Test Results

Sidewinder
Well

Gas Flow Rate
(Million Cubic Feet
Per Day)

BOE Flow rate
(Barrels of Oil Equivalent
Per Day)

Final Drawdown
Rate

Net Oil and Gas
Pay Encountered
Sidewinder-1

7.40

1,233

28%

14 Meters
Sidewinder-2

Testing Underway

Testing Underway

Testing Underway

47 Meters
Sidewinder-3

7.21

1,202

40%

15.4 Meters
Sidewinder-4

6.98

1,163

25%

19 Meters
Totals:

21.59 mmcf/day

3,598 BOE/day

Flow testing of the Sidewinder-2 discovery is currently underway. This well encountered the largest net pay of all Sidewinder wells to date, with 47 meters of oil-and-gas bearing sandstones. Five separate zones will be tested, including new zones both above and below the primary Sidewinder discovery zone.
For more information on TAG Oil's Taranaki Basin operations in New Zealand please visit: https://www.tagoil.com/taranaki-basin.asp

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