TAG Oil Ltd. V.TAO

Alternate Symbol(s): TAOIF

Energy Oil & Gas E&P

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.

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TAG Oil Ltd.

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Post by synectixon May 07, 2014 10:22am

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Post# 22533169

From EW Southern Cross plugged

PEP 54876: Southern Cross Permit (50% EW)

The Southern Cross-1 well and a subsequent side-track well were drilled on the Southern Cross permit with both wells reaching TD and encountering hydrocarbons within the Mt. Messenger Formation. Both wells however were deemed to be sub-economic and were plugged and abandoned. Under the terms of the Joint Venture Agreement with TAG, East West funded the first $2.5 million in costs of the Southern Cross-1 well with both companies paying their 50% share after the initial investment of $2.5 million.

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