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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
Post by Weebleon Mar 03, 2016 2:45pm
306 Views
Post# 24618757

New COO

New COOIf I remember right, Henrik is Lukas Lundin's nephew.

VANCOUVER, BC / ACCESSWIRE / March 3, 2016 / TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to announce that Mr. Henrik Lundin accepted the appointment as Chief Operating Officer, commencing on or about June 27, 2016, and will be based in the Company's operations' office in New Plymouth, New Zealand.

Mr. Lundin is an experienced oil and gas engineer who holds a BSc in Petroleum Engineering from the Colorado School of Mines in Colorado, United States. Mr. Lundin's career as a reservoir engineer has developed through his experience in onshore fields located in Syria and France, as well as offshore fields located in Norway and Tunisia. Mr. Lundin's career path has taken him from acting petroleum/thermal engineer for Tanganyika Oil Company Ltd., which was acquired by Sinopec, to his current position as a senior reservoir engineer for the industry-leading Lundin Petroleum AB, with a focus on the Brynhild field and the giant Johan Sverdrup field in Norway.

TAG Chairman Alex Guidi commented, "I am very excited to have Henrik join TAG in an executive capacity to help lead the Company though its next phase of growth. Henrik is a proven leader who has demonstrated solid career progress, and he brings a diverse skill set across a number of technical disciplines that will benefit TAG's operations in New Zealand and elsewhere as opportunities arise."

With Mr. Lundin commencing as Chief Operating Officer, he has resigned as a director. The Company has appointed Dr. David Bennett as a director in his place.

Dr. Bennett has extensive exploration, technical, operational, and corporate experience in New Zealand and throughout Australasia. He will be a hands-on director, helping TAG Oil high-grade and prioritize its prospect inventory, as well as give technical guidance to TAG's exploration and development programs.

Dr. Bennett has led exploration teams responsible for a considerable number of discoveries including the multi-TCF Douglas and Puk Puk gas resource in Papua New Guinea's Foreland region, as well as a number of new field discoveries in New Zealand such as Ngatoro, Goldie, Cheal, Puka, Kahili and Kupe South.

"As a former colleague, I am very pleased to have Dave join TAG Oil, and to bring his significant technical savvy and wealth of oil and gas expertise to our organization," commented Alex Guidi. "Dave not only has extensive New Zealand experience, but also specifically with respect to the Cheal field and Cardiff discovery in the Taranaki Basin, our core operations. TAG will also benefit from his wealth of industry experience and relationships across the Australasian region, TAG's focus area for future expansion."

Dr. Bennett is a former director of TAG and was previously the Chief Executive Officer of TSX and AMEX listed Austral Pacific Energy Ltd. (formerly Indo-Pacific Energy Ltd.) and Trans-Orient Petroleum Ltd., which experienced significant growth to become leading Australasian oil and gas companies during his tenure from 1993 to 2005.

Dr. Bennett holds an MSc in Exploration Geophysics from Leeds University UK and a PhD in Geophysics from the Australian National University.

The Company also announces the approval to grant up to 1,900,000 share options at a price of approximately $0.75 per share to various directors, executive officers, employees, and consultants, as part of TAG's ongoing strategy of granting share options to attract and retain talent, as well as motivating its team to work towards ensuring the success of TAG.


Read more at https://www.stockhouse.com/news/press-releases/2016/03/03/tag-oil-announces-henrik-lundin-as-chief-operating-officer-and-david-bennett-as#Im3xod8dXQUAm0FB.99

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