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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Comment by jstinveston Jan 15, 2013 4:15pm

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Post# 20841852

RE: RE: Apache is Suffering

Public_heel, read the news release properly. Apache doesn't have a choice with respect to their payment commitments for Phase 1. Agreement was made since Sept 2011, look at how Apache financial situation has changed since then especially with massive decline in natural gas prices.

"TAG intends to continue and complete the Phase 1 program. Under the Farmout Agreement, ANZ (Apache New Zealand Corporation) is obligated to pay all costs and expenses actually incurred or committed in respect of the Phase 1 program."

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