RE:RE:concession awards!!!As monkeykangaroo points out, Eastern Petroleum is a subsidiary of TAG Oil (actually a 100% owned subsidiary of Trans Orient Petroleum which, in turn, is a 100% owned subsidiary of TAG Oil...as per TAO's website).
The permit that the Eastern Petroleum - East West Petroleum jv was awarded (55770) is approximately 10 kilometers southwest of TAO's existing EAst Coast permit 38348 where they've indicated they are going to drill Punawei-1 and then Waitangi Valley-1. The new permit is some distance away to the northeast from TAO's other East Coast permit (38349) where they've already drilled the Ngapaeruru-1 well, which we are all anxiously awaiting news on.
Does anyone have any idea why TAO keeps partnering up with East West Petroleum? Seems to me that EW shareholders are getting a free ride from TAO with all of its experience in New Zealand.
As for the new Taranaki permit (55769), it lies adjacent and immediately east of TAO's existing permit 38748 (TAO 100%) on which TAO is preparing to drill...and a short distance northnorthwest of permit 54876 (TAO 50% and operator) and permit 54877 (TAO 70% and operator) and permit 38156 (TAO 100%...the Cheal oil & gas field where TAO is currently drilling Cardiff-3).