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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

Bullboard Posts
Post by McBeanburgeron Oct 24, 2013 1:06am
207 Views
Post# 21843849

Iwi fuming over oil plan

Iwi fuming over oil planhttps://www.stuff.co.nz/taranaki-daily-news/news/south-taranaki-star/9320934/Iwi-fuming-over-oil-plan

wi fuming over oil plan

PETRA FINER- SOUTH TARANAKI STAR
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Last updated 09:54 24/10/2013
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Share
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A view of Mount Taranaki taken by NASA.
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South Taranaki Star

Iwi fuming over oil plan/www.stuff.co.nz/taranaki-daily-news/news/south-taranaki-star/9320933/Trio-make-bald-move" style="margin: 0px; padding: 0px; color: rgb(37, 96, 145); font-family: Georgia, "Times New Roman", Times, serif; text-decoration: none;" rel="noindex nofollow" target="_blank">Trio make bald moveSo many firsts seen in 100 years of life/www.stuff.co.nz/taranaki-daily-news/news/south-taranaki-star/9320951/Trolleys-line-up-to-contest-honours" style="margin: 0px; padding: 0px; color: rgb(37, 96, 145); font-family: Georgia, "Times New Roman", Times, serif; text-decoration: none;" rel="noindex nofollow" target="_blank">Trolleys line up to contest honoursTranquility belies work Paradise once bare fields/www.stuff.co.nz/taranaki-daily-news/news/south-taranaki-star/9293895/Organic-farm-to-open" style="margin: 0px; padding: 0px; color: rgb(37, 96, 145); font-family: Georgia, "Times New Roman", Times, serif; text-decoration: none;" rel="noindex nofollow" target="_blank">Organic farm to openGardens to show their best/www.stuff.co.nz/taranaki-daily-news/news/south-taranaki-star/9293894/Best-service-winner-takes-advice-on-board" style="margin: 0px; padding: 0px; color: rgb(37, 96, 145); font-family: Georgia, "Times New Roman", Times, serif; text-decoration: none;" rel="noindex nofollow" target="_blank">Best service winner takes advice on board  

Award-winner goes the extra mile for clients

18px Arial, Helvetica, sans-serif; margin: 0px 0px 10px; padding: 0px; color: rgb(51, 51, 51); text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; font-size-adjust: none; font-stretch: normal; background-color: rgb(255, 255, 255); -webkit-text-stroke-width: 0px;"> An oil company's plan to edge closer to Mount Taranaki has infuriated a South Taranaki iwi.

Commissioner Mick Lester this week held an independent hearing into Tag Oil's application to drill up to eight wells at 1045 Rowan Rd, Mahoe.

The Crown Minerals Act 1991 states that no permits can be issued which would cover any part of Egmont National Park, including land beneath the park.

But Nga Hapu o Ngaruahine Iwi Inc chief negotiator and spokeswoman Daisy Noble is annoyed the Department of Conservation provided the council with written affected party approval for both exploration and production in the area without speaking to iwi.

"If we allow this to happen in this national park, where the hell else is it going to happen?

"The eight iwi of Taranaki had a right to be consulted by DOC on this activity, they had to be and it hasn't happened."

She said Ngati Haua hapu, a subsidiary of Ngaruahine, had lodged an objection to the activities with the council.

"It affects us totally because we are talking about an activity of

this magnitude that is so close to our maunga," she said.

"The maunga can't help but be affected in some way. What exactly those effects are going to be, none of us are going to know until they start".

Shewas disillusioned by the way matters had been dealt with. "I believe this is of national importance," she said.

DOC Taranaki acting conservation partnerships manager Connie Norgate said the department had no concerns about the activities as long as TAG Oil managed them appropriately.

"The department considered a number of factors regarding the proposal including proximity to Egmont National Park, proximity to walking tracks within the park, potential effects on indigenous vegetation and indigenous fauna, risk of fire, iwi consultation," she said.

"While the well is close to the boundary of Egmont National Park, based on the application there is a very low potential for adverse effects on values associated with Egmont National Park."

She said flaring fire would be contained within a pit and managed appropriately.

"The closest walking track is approximately 5km from the proposed well site. Kiwi are very sparse in this part of Egmont National Park."

Tag Oil New Zealand country manager Randy Toone told the hearing the company was determined its activities would "minimise potential effects" on the environment and neighbouring landowners. "We're committed to being good neighbours and envisage our operations continuing long term in Taranaki."

The hearing has been adjourned.

- © Fairfax NZ News




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