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 desl198on Mar 11, 2015 6:24pm

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Post# 23511479

Contractual commitments

Hi Weeble, Would you be able to comment on the work commitments. On sedar Q3 page 13 it shows 75M spending obligations within a year. Now, in footnotes it says that including in the amount there is 48M would only be carried out if financed by partner. However, it still leaves tag with 27M in commitments. I know that old management were planning to use cash flow for those. However My concern is, with new oil price and new CEO, will tag be able to finance those from cashflow or our precious cash position of 31M will have to be consumed? Feedback appreciated.

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