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 kanerfalkon Feb 19, 2015 10:55am

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Post# 23443401

A note from founder and chairman Alex Guidi

Along with TAG directors Ken Vidalin and Doug Ellenor, I recently had the opportunity to spend time on the ground in New Zealand with our VP of Operations Shane Hamnett.

During our working tours, Shane pointed out some low-expenditure, fine-tuning opportunities to increase production at TAG’s production facility. In this low oil-price environment, it’s especially important to keep optimizing operations from top to bottom.

This picture is of us in front of the Cheal-E1 well, which is still flowing naturally after more than a year, and is the best performing well in the field. We’ll be working to replicate the excellent E1 results in future drilling!

Left to right: Ken Vidalin, Director Doug Ellenor, Director Alex Guidi, Chairman Shane Hamnett, VP of Operations

Although we’ve reduced the level of exploration capital expenditure to adapt to low oil prices, TAG Oil still has a strong foundation in place to pursue future growth. The Company controls quality, long-term, development-stage assets that are producing premium-priced (Brent) light oil, with substantial remaining development, appraisal and exploration upside in multiple formations. When oil prices improve, should markets become more favorable, or should other opportunities arise, we’ll be ready as always to once again increase our level of exploration activity.

Best regards,