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TAG Oil Ltd. V.TAO

Alternate Symbol(s):  TAOIF

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.


TSXV:TAO - Post by User

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Post by kanerfalkon Mar 18, 2013 3:45am
332 Views
Post# 21143981

Oil exploration approved in Tararua district

Oil exploration approved in Tararua district

Oil exploration approved in Tararua district

Published: 7:40PM Monday March 18, 2013 Source: ONE News

A controversial plan to explore for oil in the Tararua district has been given approval this afternoon.

The Horizons Regional Council has granted consents for TAG Oil and Apache to start drilling exploratory wells on private land near Dannevirke.

However, the council's emphasising that the consents do not allow for the contentious oil and gas drilling technique known as fracking, where fluid at high pressure is injected into cracks in rocks to release gas.

"Careful consideration was given to the potential effects of these consented activities and conditions have been imposed on TAG and Apache to ensure that any potential effects on the environment are avoided, mitigated or remedied," Dr Nic Peet from Horizons Regional Council said.

"Horizons engaged experts from both within New Zealand and overseas on key areas such as well integrity and ground and surface water quality as part of this process."

Tararua District Council had already given permission for work above ground at the site.

Protesters said the search for oil could be disastrous in the earthquake prone area, especially if fracking is used. They were also concerned about the impact on the local water supply.

Fracking has been allowed to continue in New Zealand following an investigation by the Parliamentary Commissioner for the Environment last year.

Source: https://tvnz.co.nz/national-news/oil-exploration-approved-in-tararua-district-5372247

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