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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 Malpeque2on Mar 18, 2020 3:36pm
419 Views
Post# 30823084

CASH BURN for the Q ended December 2019. G & A

CASH BURN for the Q ended December 2019. G & A It was over $2M  Canadian.    Shareholder relations.......huge increase.    Salaries.  Travel.

You name it...........these C suite  pigs at the corporate trough,  they  spent it.    

The asset sale was end of September 30,  2019.    Mid March 5 months later and the doors are still open..........still chewing through your $$$.   IF anyone cared about returning the remaining money and assets to the stockholders with an $8M annual corporate burn rate the sale or liquidation of the ENTIRE company would have been done by now.

Corporate welfare here for some serious loser C-suite execs.     
Bullboard Posts