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 Feb 18, 2013 5:12am

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Post# 21004482

Drilling for rock samples at Whangara

Monday, February 18, 2013

A PETROLEUM exploration company’s drilling of a well to seek rock samples is on track to start this week.

The stratigraphic well will be sunk at Glenchoille Station, just off Christopher Road at Whangara.

It is part of work by TAG Oil subsidiary Eastern Petroleum under its 50945 Petroleum Exploration Permit.

It is the fifth such hole to be drilled on the property — four completed in early 2011 — and TAG geophysicist Liam Hurley says the work should take no longer than 10 days.

It was unlikely to be disruptive, though some traffic management might be required during the mobilisation and demobilisation of the rig.

The well to be drilled would be a slim bore hole similar to those drilled for water wells, TAG spokesman Chris Wikaira said.

“It will be drilled to about 450 metres to collect rock samples in order to age-date the stratigraphy (rock layers) in the area . . . it is not an oil or gas exploration well,” he said.

“After the rock samples are taken, the hole will be plugged and the site returned to how it was.

Once the rock data from this stratigraphic well is evaluated, a decision will be made if another deeper well will be drilled under the permit.”

The data collected from the new well will be pivotal to Eastern Petroleum’s decision as to whether it will hold or surrender its permit at Whangara.

Under the work programme conditions of the permit, it has only until early April to finish drilling an exploration well.

If it does so, it has until April, 2014 to complete a prospectivity report.

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