from jan 2013 The capital expenditure to drill, complete and test the 13 wells is estimated at $36-million (U.S.) and will be financed primarily by operating cash flow generated from current production of approximately 2,000 barrels of oil equivalent per day (boepd), plus production that is currently behind pipe, which is anticipated to be on stream in late March, 2013.
In addition to the anticipated new wells, consenting operations are under way seeking approvals for an additional 10 new surface drilling pads within TAG's Taranaki basin permits. Each drill pad is intended to host up to 12 wells per pad, providing potential for TAG to drill up to 120 new wells in the coming years.