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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
Comment by sololeoon Dec 04, 2013 11:50am
168 Views
Post# 21969136

RE:Note the dates....Excuse the format...

RE:Note the dates....Excuse the format...synectix...the launching of the Normal Course Issuer Bid that your post references came out of TAO's AGM last year (held on December 6th, 2012), and replaced the NCIB from the previous year that expired. I would expect TAO to launch a new NCIB again in the next few days, whether it is timed for the expiry of the current NCIB, or timed with the AGM on December 12th.

If they do so, the announcement should summarize the results of the NCIB that is about to expire, for those who don't keep track of the NCIB transactions along the way. Also, they'll detail in the announcement who will conduct the bid and, based on shares outstanding and average daily trading volumes, the maximum amount that can be purchased under the NCIB on an annual and daily basis. Given the higher number of shares now outstanding, I'd expect the new NCIB to have a higher annual limit, and given the inflated volumes that TAO has enjoyed (!?!) since the Apache opt-out, I would expect that the daily maximum allowed will also be higher.
Bullboard Posts