1050 Burrard Street, Suite 2901

Zeit   Kurs Stück
  16:27:53§2,50 € 400
__________________
GRATULATION  

Zeit


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Kosmonova buran  

Datum Erster Hoch Tief Schluss     Stücke Volumen
  25.11.13      3,38      3,43§3,34 3,40 $ 44.661 143 T

GrB  

Zeit


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100

GrB  

Datum Erster Hoch Tief Schluss     Stücke Volumen
  27.11.13     3,293      3,30§3,20 3,20 $ 57.627 175 T

GrB  

Zeit    Kurs Stück
  14:43:25§2,22 € 2.000
__________________
GRATULATION  

14:50 06.12.13

PR Newswire

VANCOUVER, Dec. 6, 2013

VANCOUVER, Dec. 6, 2013 /PRNewswire/ - TAG Oil Ltd. (TSX: TAOand OTCQX: TAOIF), reports that the Company intends to launch a normal course issuer bid (the "Bid") to purchase up to 6,073,339 of its common shares through the facilities of the Toronto Stock Exchange (the "TSX"), subject to TSX acceptance.

The purchase of common shares under the Bid will enable the Company to acquire its shares for cancellation. TAG believes that the market price of the Company's common shares may not reflect their underlying value and that the purchase of common shares for cancellation will increase the proportionate interest of, and will be advantageous to, all remaining shareholders.

There have been 867,000 common share purchased and cancelled under a normal course issuer bid by TAG within the past twelve months at an average weighted purchase price of $3.83 per common share.

Currently, TAG has 64,687,052 common shares issued and outstanding. The common shares that may be repurchased over a twelve-month period represent approximately 10% of TAG's 60,733,391 outstanding common shares in the public float. TAG has appointed Richardson GMP Limited (formerly Macquarie Private Wealth Inc.) as the Participating Organization that will be conducting the Bid on behalf of TAG with purchases under the Bid being able to commence on December 10, 2013, and will terminate on December 9, 2014, or on such earlier date as the Bid is complete. The average daily trading volume of the common shares for the previous six calendar months (the "ADTV") was 205,851 common shares. The amount and timing of such purchases will be determined by TAG and, in accordance with TSX policies, on any trading day, the amount of daily purchases may not exceed 25% of the ADTV or 51,462 common shares.

TAG Oil Ltd.

TAG Oil Ltd. (http://www.tagoil.com/) is a Canadian-based production and exploration company with operations focused exclusively in New Zealand. With 100% ownership over all its core assets, including extensive oil and gas production infrastructure, TAG is enjoying significant organic value creation through exploration success and ongoing development and appraisal drilling of several light oil and gas discoveries. As New Zealand's leading explorer, TAG actively drills high-impact conventional and unconventional exploration prospects identified in the Taranaki Basin, East Coast Basin and Canterbury Basin that covers more than 2,736,390 net acres of land, prospective for major discovery in New Zealand.

Cautionary Note Regarding Forward-Looking Statements:

Statements contained in this news release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of TAG. Such statements can generally, but not always, identified by words such as "expects", "plans", "anticipates", "intends", "estimates", "forecasts", "schedules", "prepares", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. All estimates and statements that describe the Company's objectives, goals, or future plans relating to the Bid are forward-looking statements under applicable securities laws and necessarily involve risks and uncertainties. Actual results may vary materially from the information provided in this release, and there is no representation by TAG that the actual results realized in the future will be the same in whole or in part as those presented herein.

Other factors that could cause actual results to differ from those contained in the forward-looking statements are also set forth in filings that TAG and its independent evaluator have made, including TAG's most recently filed reports in Canada under National Instrument 51-101, which can be found under TAG's SEDAR profile at www.sedar.com. TAG undertakes no obligation, except as otherwise required by law, to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors change.

SOURCE TAG Oil Ltd.

Quelle: PR Newswire  

is a Canadian-based production and exploration company with operations focused exclusively in New Zealand. With 100% ownership over all its core assets, including extensive oil and gas production infrastructure, TAG is enjoying significant organic value creation through exploration success and ongoing development and appraisal drilling of several light oil and gas discoveries. As New Zealand's leading explorer, TAG actively drills high-impact conventional and unconventional exploration prospects identified in the Taranaki Basin, East Coast Basin and Canterbury Basin that covers more than 2,736,390 net acres of land, prospective for major discovery in New Zealand.
 

that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of TAG. Such statements can generally, but not always, identified by words such as "expects", "plans", "anticipates", "intends", "estimates", "forecasts", "schedules", "prepares", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. All estimates and statements that describe the Company's objectives, goals, or future plans relating to the Bid are forward-looking statements under applicable securities laws and necessarily involve risks and uncertainties. Actual results may vary materially from the information provided in this release, and there is no representation by TAG that the actual results realized in the future will be the same in whole or in part as those presented herein.
SOURCE TAG Oil Ltd.

Quelle: PR Newswire  

Datum Erster Hoch Tief Schluss     Stücke Volumen
  06.12.13      3,07      3,20§3,07 3,20 $ 74.938 225 T

GrB  

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GrB  

20:50 09.01.14

PR Newswire

VANCOUVER, Jan. 9, 2014

VANCOUVER, Jan. 9, 2014 /PRNewswire/ - TAG Oil Ltd. (the "Company" or "TAG") (TSX: TAO) and (OTCQX: TAOIF) is pleased to provide the following exploration and development drilling update in both the shallow and deeper targets within the Taranaki Basin. As TAG enters calendar year 2014, the Company will be maintaining its strategy of deploying capital to high impact exploration targets while developing shallow reservoirs to provide sustainable capital for continuous exploration activities.

Deep / Eocene Exploration Taranaki Program (TAG 100%)

TAG is pleased to announce the Cardiff-3 well targeting the Eocene-aged Kapuni Formation reached Total Depth of 4,863 meters in December, fully penetrating and evaluating all three deep target zones as planned; the well took longer to drill than anticipated due to encountering thick coal sections in the Eocene-aged Mangahewa Formation.

Condensate-rich gas shows were recorded in all three target zones within the Kapuni Formation and as a result TAG is casing the well to total depth and will pursue a completion and testing program. Evaluation will begin with perforation and, if necessary, hydraulic stimulation of the deepest targeted prospect, the Kapuni K3E zone. Following evaluation of the K3E zone, the shallower K1A and Mckee Sand zones will be evaluated and a decision will then be made on an overall production strategy.  In total TAG encountered over 230 meters of potential net pay over the three target zones to be evaluated.

TAG COO Drew Cadenhead commented; "Significant data collected during the drilling operation is encouraging, and we will now move on to flow-testing which is the only definitive way to evaluate commercial success in these condensate rich tight-gas plays. This next stage of evaluation will occur throughout the next few months."

Shallow / Miocene Development Taranaki Program

Cheal-E Site (TAG 70%)

TAG successfully completed its initial five well drilling program at the Cheal-E Site in mid-December. Cheal-E1 has been naturally flowing through a 17/64" choke, for 44 days and has produced at an average of 547 BOE/d (88% oil) while Cheal-E4 has been naturally flowing through a 10/64" choke for 7 days and has produced an average of 315 boe/d (87% oil). In aggregate Cheal-E1 and Cheal-E4 have produced more than 23,100 barrels of oil (26,400 BOEs) to January 7, 2014. Following perforation, Cheal-E2 and Cheal-E3 tested oil naturally to surface and will require artificial lift to maximize production as expected. This work, as well as the perforation and completion of Cheal-E5 will be initiated in the second half of January as equipment becomes available. As required work is completed, Cheal-E Site wells will be tied in for permanent production at TAG's recently commissioned Cheal-E Site separation facilities.

Results of the Cheal-E drilling program have significantly extended the known oil and gas saturated area within TAG's 100% owned Cheal Mining Permit discovery through to E-Site. Pending completion of the outstanding activities at E-Site and further analysis of all results, TAG feels there is potential for 15 – 20 follow-up locations in the newly awarded areas.

Joint venture partner East West Petroleum (30% interest) paid 100% of the first $5 million in drilling costs of the first two Cheal-E wells and is entitled to recover the first $5 million in revenue from Cheal-E Site sales while also paying 100% of the costs to produce that revenue. Subsequent to the $5 million in revenue, all cash flow and operations will revert to 70% TAG and 30% East West. At present production rates, that payout is forecasted to occur in less than two months.

Cheal-G Site

With the conclusion of the Cheal E-Site drilling program, TAG moved its Miocene focused drilling rig to the Cheal G-Site where Cheal-G1 was spudded on January 3, 2014 kicking off a 3 well drilling program. Joint Venture partner East West Petroleum will fund the first $2.5 million in capital expenditure, and is entitled to receive the first $2.5 million in revenue sales while also paying 100% of the costs to produce that revenue, before costs and interest in the wells will revert to 50% TAG and 50% East West.

2014 Miocene Focus

Throughout 2013, TAG's Miocene strategy was focused on oil production growth, resulting in the reallocation of drilling capital towards oil targets versus potentially higher BOE/d rate, yet moderately less economic, shallow natural gas targets. With TAG achieving a netback of approximately CDN$83 / barrel for oil production in December, this strategy will continue into 2014 with the intention to drill a minimum of 10 gross shallow, Miocene wells within the greater Cheal area. The program will include at least seven 100% working interest development oil focused locations. Further details of the 2014 Miocene program as well as TAG's deep Kapuni and East Coast Basin will follow.

TAG Oil Ltd.

TAG Oil Ltd. (http://www.tagoil.com/) is a Canadian-based production and exploration company with operations focused exclusively in New Zealand. With 100% ownership over all its core assets, including extensive oil and gas production infrastructure, TAG is enjoying significant organic value creation through exploration success and ongoing development and appraisal drilling of several light oil and gas discoveries. As New Zealand's leading explorer, TAG actively drills high-impact conventional and unconventional exploration prospects identified in the Taranaki Basin, East Coast Basin and Canterbury Basin that covers more than 2,736,390 net acres of land, prospective for major discovery in New Zealand.

TAG Oil has adopted the standard of six thousand cubic feet of gas to equal one barrel of oil when converting natural gas to "BOEs". BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Cautionary Note Regarding Forward-Looking Statements:

Statements contained in this news release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of TAG. Such statements can be generally, but not always, identified by words such as "expects", "plans", "anticipates", "intends", "estimates", "forecasts", "schedules", "prepares", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.  All estimates and statements that describe the Company's objectives, goals, production rates, test rates, optimization, infrastructure capacity timing of operations and or future plans with respect to the drilling and testing in the Taranaki Basin are forward-looking statements under applicable securities laws and necessarily involve risks and uncertainties including, without limitation: risks associated with oil and gas exploration, development, exploitation and production, geological risks, marketing and transportation, availability of adequate funding, volatility of commodity prices,  environmental risks, competition from other producers, and changes in the regulatory and taxation environment. Actual results may vary materially from the information provided in this release, and there is no representation by TAG Oil that the actual results realized in the future will be the same in whole or in part as those presented herein.

Other factors that could cause actual results to differ from those contained in the forward-looking statements are also set forth in filings that TAG and its independent evaluator have made, including TAG's most recently filed reports in Canada under NI 51-101, which can be found under TAG's SEDAR profile at www.sedar.com.

TAG undertakes no obligation, except as otherwise required by law, to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors change.

SOURCE TAG Oil Ltd.


Quelle: PR Newswire  

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  15:38:46§3,15 $
       500                    §
  15:38:37§3,15 $
       500                    §
  15:32:22§3,2055 $
     1.000                    §
  15:32:13§3,15 $
     1.124                    §
  15:32:11§3,16 $
       100                    §
  15:31:20§3,2053 $
     1.000                    §
  15:30:03§3,21 $
       300                    §
  15:30:01§3,2118 $
     3.000                    §
  15:30:00§3,1962 $
200
GrB  

is a Canadian-based production and exploration company with operations focused exclusively in New Zealand. With 100% ownership over all its core assets, including extensive oil and gas production infrastructure, TAG is enjoying significant organic value creation through exploration success and ongoing development and appraisal drilling of several light oil and gas discoveries. As New Zealand's leading explorer, TAG actively drills high-impact conventional and unconventional exploration prospects identified in the Taranaki Basin, East Coast Basin and Canterbury Basin that covers more than 2,736,390 net acres of land, prospective for major discovery in New Zealand.

TAG Oil has adopted the standard of six thousand cubic feet of gas to equal one barrel of oil when converting natural gas to "BOEs". BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
SOURCE TAG Oil Ltd.


Quelle: PR Newswire  

Forward-Looking Statements:

Statements contained in this news release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of TAG. Such statements can be generally, but not always, identified by words such as "expects", "plans", "anticipates", "intends", "estimates", "forecasts", "schedules", "prepares", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.  All estimates and statements that describe the Company's objectives, goals, production rates, test rates, optimization, infrastructure capacity timing of operations and or future plans with respect to the drilling and testing in the Taranaki Basin are forward-looking statements under applicable securities laws and necessarily involve risks and uncertainties including, without limitation: risks associated with oil and gas exploration, development, exploitation and production, geological risks, marketing and transportation, availability of adequate funding, volatility of commodity prices,  environmental risks, competition from other producers, and changes in the regulatory and taxation environment. Actual results may vary materially from the information provided in this release, and there is no representation by TAG Oil that the actual results realized in the future will be the same in whole or in part as those presented herein.

Other factors that could cause actual results to differ from those contained in the forward-looking statements are also set forth in filings that TAG and its independent evaluator have made, including TAG's most recently filed reports in Canada under NI 51-101, which can be found under TAG's SEDAR profile at www.sedar.com.

TAG undertakes no obligation, except as otherwise required by law, to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors change.

SOURCE TAG Oil Ltd.


Quelle: PR Newswire  

Datum Erster Hoch Tief Schluss     Stücke Volumen
  10.01.14    3,1962    3,2118§3,07 3,1388 $ 39.266 118 T

GrB  

Datum Erster Hoch Tief Schluss     Stücke Volumen
  17.01.14    3,0067      3,05§2,98 3,03 $ 19.023 57 T

GrB  

...oder sollen wir besser einen Neuen Thread aufmachen ?  

Q3 Results with Extensive Conventional & Unconventional Exploration Program Underway
23:45 14.02.14

PR Newswire

VANCOUVER, Feb. 14, 2014

VANCOUVER, Feb. 14, 2014 /PRNewswire/ - New Zealand oil and gas producer TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF) is pleased to provide its financial and operating results for the three and nine months ended December 31, 2013. TAG currently has 64,402,052 common shares outstanding (68,085,386 fully diluted) and at December 31, 2013 the Company had cash of $68.5 million, working capital of $71.2 million and no debt.

"We continue to make significant progress on our strategy to deliver long-term shareholder value across all fronts within TAG, as well as achieving consistent profitability which has differentiated us from others in our international peer group." said Garth Johnson, TAG Oil Ltd. Chief Executive Officer. "With record production revenues, cash flow and profits and following completion of extensive infrastructure upgrades which are critical to facilitate anticipated growth, we have increased operational flexibility, which has resulted in committing to New Zealand's most active and diverse exploration campaigns in the country's history. We are confident TAG can continue to deliver value through organic production growth within an extensive drill-ready prospect portfolio consisting of low risk shallow Miocene development and step out wells, and leverage this cash flow into high-impact deep Eocene conventional wells and unconventional prospects in the East Coast."

TAG Oil Third Quarter Fiscal 2014 Highlights Ending December 31, 2013

Sold 97,616 barrels (nine months: 306,729 barrels) of light oil and 194 mmcf (nine months: 1.23 bcf) of gas.



Netbacks of approximately $78 per barrel of oil and $4.25 per mcf gas received for a combined netback of $64.63 per BOE compared to average North American netbacks ranging of approximately $34 per BOE.



Revenue for the three months ended December 31, 2013 increased 19% to $12,939,442 and 35% to $43,522,224 over the nine month period when compared to the same periods last year.



Net income for the three and nine-month periods ended December 31, 2013 increased 365% and 76%, respectively when compared with the same periods last year.



Cash provided by operating activities for the nine months to December 31, 2013 increased by 40% to $21.26 million compared to $15.12 million for the same period last year.



Active shallow drilling program (~2000 meters depth) continues to yield excellent success with five wells drilled within PEP 54877 (Cheal North East - E Site), two wells drilled on PEP 54879 (Cheal South - G Site).



TAG's first deep well, Cardiff-3 (4,863 meters depth) intersects 45 meters (148 feet) of potential net pay in the K3E zone within the Kapuni Sands Formation.



Reservoir characterization study on Ngapaeruru-1 well in East Coast Basin unconventional play provides encouraging new data.



Capital expenditures in the first nine months of fiscal year 2014 were $47.8 million consitsting of drilling 6 shallow Miocene wells, one deep Eocene well and spending $6.92 million on new infrastructure.
Financial Highlights

Three Months Ended Nine Months Ended
 2014 2013 % Change 2014 2013 % Change
Production revenue $12,939,442 $10,851,223 19% $43,522,224 $32,293,424 35%
Net income (loss) $2,971,158 $638,521 365% $8,903,569 $5,056,468 76%
Earnings per share (diluted) $0.05 $0.01 400% $0.15 $0.08 88%
Working capital $71,231,741 $67,750,630 5% $71,231,741 $67,750,630 5%
Total assets $254,073,555 $203,159,987 25% $254,073,555 $203,159,987 25%
Long term debt $0 $0 - $0 $0 -
Shareholder's equity $234,453,691 $187,271,076 25% $234,453,691 $187,271,076 25%
Oil and Natural Gas Operations, Production and Pricing

TAG continues to achieve record revenues including net income and cash flow. Operating netbacks of $78 per barrel of oil continue to be substantially higher than what is being achieved in North America, resulting in efficient payback of capital costs and long-term profitable operations.

Q3 FY2014 Oil and Natural Gas Production, Pricing and Revenue (net to TAG basis)

2014 2013 Nine months ended
 Q3 Q2 Q3 2014 2013
Daily production volumes(1)
Oil (bbls/d) 1,069 1,209 942 1,118 934
Natural gas (BOE/d) 458 891 785 874 831
  Combined (BOE/d) 1,527 2,100 1,727 1,992 1,765

Daily sales volumes(1)
Oil (bbls/d) 1,061 1,227 942 1,114 934
Natural gas (BOE/d) 351 782 512 747 581
Combined (BOE/d) 1,412 2,009 1,454 1,861 1,515

Natural Gas (Mmcf/d) 2,106 4,694 3,070 4,482 3,487

Product pricing
Oil ($/bbl) 112.74 113.30 109.57 110.57 108.80
Natural gas ($/Mcf) 5.43 5.18 4.79 5.50 4.55
     Sales§
Total revenue - gross $12,939,442 $15,884,584 $10,851,223 $43,522,224 $32,293,424
Less other revenue - gross (881,134) (861,603) - (2,863,656) -
Oil and natural gas revenue - gross 12,058,308 15,022,981 $10,851,223 40,658,568 32,293,424
Oil and natural gas royalties(2) (1,398,536) (1,632,648) (1,252,872) (4,505,048) (3,659,444)
Oil and natural gas Revenue - net $10,659,772 $13,390,333 $9,598,351 $36,153,520 $28,633,980
       (1)§Natural gas production converted at 6 Mcf:1BOE (for BOE figures, see BOE definition below)
       (2)§Includes a 7.5% royalty related to the acquisition of a 69.5% interest in the Cheal field
       (3)§Other revenue is electricity revenue related to OHL.
Taranakai Shallow Miocene and Deep Eocene Operations Update

Over the past several years, TAG has focused its efforts on developing the shallow Miocene targets (~2000 meters depth), with excellent success, as shown by thirty-one successful wells drilled to date. Given this success, TAG has added a deep Eocene drilling component to its Taranaki Basin operations with a goal to capture reserves several times larger than what is being achieved in the shallow Miocene drilling program. In the current quarter, TAG successfully drilled, logged and cased its first deep Eocene well, Cardiff-3, which intersected 45 meters (148 feet) of potential pay in the successful Kapuni Formation. The Company anticipates production testing this well in the near future. An independent assessment was prepared by Sproule International Limited with an effective date of July 31, 2013, which has estimated the undiscovered resource potential on the Cardiff prospect on a P50 basis at 160 billion cubic feet gas and 5.59 million barrels of natural gas liquids(1). Sproule is a qualified reserves evaluator in accordance with NI 51-101 and the Canadian Oil and Gas Evaluations Handbook.

TAG Oil's shallow Miocene drilling program has continued concurrently with the deep Eocene drilling program; most recently eight oil wells have been drilled from the Company's Cheal-E and G sites, delineating a much larger oil saturated area than originally anticipated at the Cheal field. Utilizing TAG's 100% owned processing infrastructure, testing and first production has commenced on three of the five wells drilled from the Cheal E Site, with over 50,000 barrels of light oil produced to date from the new discovery site. The recent drilling success in the Cheal-E and G sites provides TAG with many years of low-risk development drilling opportunities and additional step out locations, such as the coming Southern Cross well that could further expand the scope and size of the Cheal pool.

East Coast Basin Update

TAG has now received the results of the Reservoir Characterization Study ("RCS") from independent experts in unconventional plays on the Ngapaeruru-1 well, the first ever East Coast Basin unconventional test well. The RCS study provides the first true unconventional data set ever acquired in the East Coast Basin and provides a number of encouraging attributes, and importantly confirmation that TAG's drilling mudlog interpretations from the Ngapaeruru-1 well demonstrate that oil is being generated in the Whangai source rocks.

Given the results of the study, TAG will now perforate and production test Ngapaeruru-1 in the coming months; with the goal being to prove the concept of moveable hydrocarbons from within the source rocks, a critical step to pursuing the economic viability of this unconventional play.

Details of the RCS report indicate a number of positives with respect to the Whangai source rocks as a viable unconventional oil target:

        a)§The Whangai Formation source rocks penetrated in Ngapaeruru-1 is 293 meters thick, it's highly naturally fractured, the fractures are open, and each fracture zone correlates well with elevated oil and gas mudlog shows.
        b)§The hydrocarbon-filled porosity exceeds the minimum standard thresholds for unconventional reservoirs.
        c)§Permeabilities within the Whangai section exceed standard unconventional reservoir thresholds
        d)§The Whangai Formation has very low clay content, indicating fracture stimulation can be highly effective.
        e)§Vitrinite reflectance analysis places the Whangai source rocks in the oil/condensate window, correlating well with the 50-degree API oil seeps in this basin.
        f)§Ngapaeruru-1 intercepted a lateral equivalent of the true organic rich Whangai source rocks interpreted in the basin from oil seep fingerprinting, indicating that the Whangai source rocks have lateral variations as expected.
        g)§A deeper basinal setting (which is planned for the next two wells in the program) will look to identify increased TOC contents of the reservoir, which at Ngapaeruru-1 is slightly less than 1% (with 2% being the standard threshold) indicating subsequent wells may be more optimally located to intercept the ideal source rock origin.
The quality of the data set acquired at Ngapaeruru-1 is state-of-the-art, and, as expected, has provided the first ever specialized interpretation necessary to help unlock the major potential of this unconventional play.

TAG Oil Ltd.

TAG Oil Ltd. (http://www.tagoil.com/) is a Canadian-based production and exploration company with operations focused exclusively in New Zealand. With 100% ownership over all its core assets, including extensive oil and gas production infrastructure, TAG is enjoying significant organic value creation through exploration success and ongoing development and appraisal drilling of several light oil and gas discoveries. As New Zealand's leading explorer, TAG actively drills high-impact conventional and unconventional exploration prospects identified in the Taranaki Basin, East Coast Basin and Canterbury Basin that covers more than 2.7 million net acres of land, prospective for major discovery in New Zealand.

TAG Oil has adopted the standard of six thousand cubic feet of gas to equal one barrel of oil when converting natural gas to "BOEs". BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

(1) Cardiff Resource Estimates Footnote:

Best Estimate is considered to be the best estimate of the in-place volumes that will actually be present. It is equally likely that the actual in-place volumes will be greater or less than the best estimate. If probabilistic methods are used, there should be at least a 50 percent probability (P50) that the in-place volumes will equal or exceed the best estimate.

Undiscovered Petroleum Initially-In-Place (equivalent to undiscovered resources) is that quantity of petroleum that is estimated, on a given date, to be contained in accumulations yet to be discovered. The recoverable portion of undiscovered petroleum initially in place is referred to as "prospective resources," the remainder as "unrecoverable."

Prospective resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects.  Prospective resources have both an associated chance of discovery and a chance of development.  There is no certainty that any portion of the resources will be discovered.  If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.

Exploration for hydrocarbons is a speculative venture necessarily involving substantial risk. TAG's future success in exploiting and increasing its current reserve base will depend on its ability to develop its current properties and on its ability to discover and acquire properties or prospects that are capable of commercial production. However, there is no assurance that TAG's future exploration and development efforts will result in the discovery or development of additional commercial accumulations of oil and natural gas. In addition, even if further hydrocarbons are discovered, the costs of extracting and delivering the hydrocarbons to market and variations in the market price may render uneconomic any discovered deposit.  Geological conditions are variable and unpredictable. Even if production is commenced from a well, the quantity of hydrocarbons produced inevitably will decline over time, and production may be adversely affected or may have to be terminated altogether if TAG encounters unforeseen geological conditions. TAG is subject to uncertainties related to the proximity of any reserves that it may discover to pipelines and processing facilities. It expects that its operational costs will increase proportionally to the remoteness of, and any restrictions on access to, the properties on which any such reserves may be found. Adverse climatic conditions at such properties may also hinder TAG's ability to carry on exploration or production activities continuously throughout any given year.

The significant positive factors that are relevant to the resource estimate are:

Proven production in close proximity;
Proven commercial quality reservoirs in close proximity; and
Oil and gas shows while drilling wells nearby.
The significant negative factors that are relevant to the resource estimate are:

Tectonically complex geology could compromise seal potential; and
Seismic attribute mapping in the two, deep, liquids-rich gas plays can be indicative but not certain in identifying proven resource.
Cautionary Note Regarding Forward-Looking Statements:

Statements contained in this news release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of TAG. Such statements can be generally, but not always, identified by words such as "expects", "plans", "anticipates", "intends", "estimates", "forecasts", "schedules", "prepares", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. All estimates and statements that describe the Company's objectives, goals, production rates, test rates, optimization, infrastructure capacity timing of operations and or future plans with respect to the drilling and testing in the Taranaki and East Coast Basins are forward-looking statements under applicable securities laws and necessarily involve risks and uncertainties including, without limitation: risks associated with oil and gas exploration, development, exploitation and production, geological risks, marketing and transportation, availability of adequate funding, volatility of commodity prices,  environmental risks, competition from other producers, and changes in the regulatory and taxation environment. Actual results may vary materially from the information provided in this release, and there is no representation by TAG Oil that the actual results realized in the future would be the same in whole or in part as those presented herein.

Other factors that could cause actual results to differ from those contained in the forward-looking statements are also set forth in filings that TAG and its independent evaluator have made, including TAG's most recently filed reports in Canada under NI 51-101, which can be found under TAG's SEDAR profile at www.sedar.com.

TAG undertakes no obligation, except as otherwise required by law, to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors change.

SOURCE TAG Oil Ltd.


Quelle: PR Newswire  

March 2014 Energy Wrap

By Neil Ritchie

The scheduled arrival in New Zealand waters during late March of the jack-up Ensco Rig 107 will complete the four-strong drilling contingent currently in the country.

The Ensco rig will join the deepwater drillship Noble Bob Douglas, which has virtually finished drilling the Caravel-1 “wildcat” well off Otago, the semi-submersible rig Kan Tan IV, currently drilling the Pateke-4H “infill” well off Taranaki, and the Archer Emerald modular offshore drilling unit that is still on the offshore Taranaki Maui A platform.

The jack-up rig is being loaded onto the heavy lift vessel, the Talisman, in Singapore and, on arrival in New Zealand waters, is due to head to the sheltered Admiralty Bay in the Marlborough Sounds for offloading and then towing by its support vessels to offshore Taranaki.

Once off Taranaki it is due to start an extended development campaign for Maari oil field operator Austrian giant OMV and its partners lasting at least nine months. Afterwards other joint ventures may also utilise the rig for their exploration, and possibly appraisal, wells off Taranaki and perhaps in other geological basins.

The 107 is no stranger to this country, having spent about two years in New Zealand waters for various joint ventures in various basins from early 2008 to late 2010.

While there is no word yet regarding the results of the Archer Emerald programme, or whether Caravel-1 has struck any worthwhile hydrocarbons, Pateke-4H has had oil shows in the Kapuni Formation F sands where an oil-bearing reservoir is likely to have been encountered.

Meanwhile, onshore activity continues in Taranaki and elsewhere – from preliminary land surveying for future seismic surveys to more development drilling.

Todd Energy’s new $42 million Bentec Euro Rig 450t started its first well, Mangahewa-16 at the Mangahewa D wellsite on February 11 and is likely to reach the total deviated target depth, of up to 5500 metres, before the end of the month.

And the Canadian listed juniors TAG Oil, East West Petroleum and New Zealand Energy Corp continue their respective onshore exploration and development programmes around Taranaki, as does UK-listed Kea Petroleum.

TAG and East West should start their first well near Wharehuia, Southern Cross-1, by the end of the March, while TAG alone should start hydraulic fracturing the more southern nearby Cardiff-3 deep gas well, beginning with the perforation of the K3E sands, the deepest of three potential test zones within the Eocene-aged Kapuni Group Formation, before the end of the month.

As well as now producing light, high-quality oil from nine wells in its onshore Taranaki licences, NZEC is also preparing four further wells for future production.

It has completed workover activities on Waitapu-2 and that well should be starting production, with testing of the resultant hydrocarbon flows, from mid-March. Waitapu is NZEC’s second discovery after its initial Copper Moki find in licence PEP 51150 (Eltham).

NZEC and joint venture partner L&M Energy are continuing investigating ways to bring some virtually abandoned wells, plus others, back to full production in the nearby Tariki, Waihapa, Ngaere (TWN) licences.

They have identified cost saving opportunities at the Waihapa-8 well and are installing a dedicated downhole pump for artificial lift, heating gas at the wellhead and using existing gas lift. Increased production from this well is expected from late March. If successful, this should result in savings of approximately NZ$400,000 per annum.

The TWN partners are also evaluating bringing back production from the Tikorangi Formation at the virtually abandoned Waihapa-1B well. An uphole completion in the shallower Mount Messenger Formation is also possible. Artificial lift facilities are also being installed at the Waihapa-2 well, with production from the Mt Messenger Formation anticipated by April.

In addition, the TWN joint venture has entered into an agreement with an un-named gas marketing “counterparty” to transport gas along a section of the TWN gas pipeline for four years, with a five-year right of renewal. This is expected to generate between NZ$0.5-2million of revenue per year.

And two senior NZEC executives – Ian Brown, head of Wellington subsidiary Ian Brown & Associates, and Bruce McIntyre, Canadian company president -- have taken early retirement, though McIntyre will remain on the NZECC board and Brown will act as an advisor.

This cost-cutting exercise is in addition to country manager and industry veteran Chris Bush resigning to be effectively replaced by Petroleum Exploration and Production Association of New Zealand chief executive David Robinson from May.

Finally, Kea Petroleum is making more money, though it still struggles sometimes with Taranaki’s complex geology.

The company saw a huge improvement in revenues for the half-year to November 30, 213, which spiked to £1.2 million (almost NZ$2.4 million) from only £382,000 for the corresponding previous six months. Gross profits climbed to £739,000 from £180,000.

But it says that evaluation of the results of last year’s 3D seismic survey of its Puka discovery, shows both the Puka-1 and 2 wells were drilled on the edge of the channel fairway. Future wells will now aim to drill for better sands in the main channel.

Kea is still interpreting 3D data from the Mercury Prospect in the northern onshore-offshore licence lease PEP 52333 where it still wants to drill later this year, while it wants a work programme extension for its more remote northern onshore-offshore licence PEP 381204 where it drilled the Mauku-1 exploration well.  

Zeit  Kurs  Stück  
15:00:11 2,69 $  100  
14:58:32 2,69 $  500  
14:58:26 2,69 $  1.000  
14:57:52 2,69 $  500  
14:57:29 2,70 $  300  
14:56:58 2,69 $  500  
14:56:35 2,69 $  500  
14:54:36 2,69 $  1.800  
14:53:30 2,69 $  100  
14:50:47 2,6986 $  900  
14:50:47 2,6941 $  100  
14:50:10 2,70 $  800  
14:50:03 2,71 $  300  
14:44:54 2,70 $  1.094  
14:44:42 2,70 $  1.500  
14:44:37 2,70 $  1.400  
14:44:09 2,70 $  3.010  
14:44:08 2,71 $  100  
14:43:11 2,71 $  500  
14:40:03 2,72 $  1.700  
14:38:10 2,72 $  500  
14:37:50 2,72 $  500  
14:35:06 2,74 $  100  
14:35:04 2,7356 $  200
__________________
GRATULATION  

Zeit   Kurs Stück
  15:34:10§2,77 $ 100
_________________
GRATULATION  

Auf den Watzmann aufi gehts aufi!  

Waitangi Hill, Targeting Fractured Source Rocks
13:05 05.05.14

PR Newswire

VANCOUVER, May 5, 2014

VANCOUVER, May 5, 2014 /PRNewswire/ - TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF) announces that the Gisborne District Council has granted TAG consent to drill the Waitangi Valley-1 well (TAG 100%), located in Petroleum Exploration Permit 38348 in the East Coast Basin, New Zealand. Earthwork activities are already underway to build an access road and drilling pad, with construction expected to be fully complete and drilling rig mobilized to the site by the end of June. Waitangi Valley-1 will be drilled to a total depth of 3600 meters, with the well targeting the naturally fractured Waipawa Black Shale and Whangai source rock formations.

The Waipawa and Whangai formations are regarded as high-quality source rocks that compare technically to successful commercial tight-oil plays in North America, such as the Bakken Shale and Eagle Ford discoveries. The potential oil resource in the source rocks on TAG's acreage is significant by world standards, with independent assessments on TAG-controlled lands estimated at an undiscovered resource potential of approximately 14 billion barrels of oil initially-in-place. The mid-range P50 assessment considers approximately 20% of TAG's total land holdings, while the source rocks are interpreted to be widespread and, more importantly, accessible on a much greater area of the Company's 1.5 million acres. The Waitangi Valley-1 well also has significant conventional discovery potential within multiple Miocene-aged formations in an area where oil has already been discovered under significant pressure.

Waitangi Valley-1 will be the first modern deep exploration well drilled in the Waitangi Hill area: The historical Waitangi-1 oil discovery in 1912 produced 50 degree API sweet light crude from an oil reservoir at approximately 300 meters depth[1]. Geotechnical work done on oil samples taken from the Waitangi-1 well, which still produces live oil to surface today, and nearby oil seeps and oil samples from the five shallow Waitangi Hill wells TAG drilled in 2011, conclusively confirmed the "oil kitchen" is working and the underlying Waipawa and Whangai Formations are the source of this high-quality, movable oil making these naturally fractured oil and gas source rocks a prime unconventional exploration target.

"We are extremely pleased to receive this consent and we thank the Gisborne District Council for their diligence leading to this decision," said Garth Johnson, TAG Oil Ltd. Chief Executive Officer. "The Waitangi Valley well is one of TAG's high priority exploration prospects which was technically validated through work in our previous joint venture with Apache, and therefore we are very excited to drill this well. It is our vision to establish the country's first unconventional oil production and prove commerciality of this potentially very large resource."

1Such information is derived from a variety of publicly available information from government sources, regulatory agencies, public databases or other industry participants (as at the date stated therein) that TAG believes are predominantly independent in nature.



TAG Oil Ltd.

TAG Oil Ltd. (http://www.tagoil.com/) is a Canadian-based production and exploration company with operations focused exclusively in New Zealand. With 100% ownership over all its core assets, including extensive oil and gas production infrastructure, TAG is enjoying significant organic value creation through exploration success and ongoing development and appraisal drilling of several light oil and gas discoveries. As New Zealand's leading explorer, TAG actively drills high-impact conventional and unconventional exploration prospects identified in the Taranaki Basin, East Coast Basin and Canterbury Basin that covers more than 2.7 million net acres of land, prospective for major discovery in New Zealand.

Resource Estimates:

The resource estimates in this document were prepared by Sproule International Limited with an effective date of July 31, 2013, and by AJM Petroleum Consultants with an effective date of September 1, 2008. Each is a qualified reserves evaluator in accordance with NI 51-101 and the Canadian Oil and Gas Evaluations Handbook.

Best Estimate is considered to be the best estimate of the in-place volumes that will actually be present. It is equally likely that the actual in-place volumes will be greater or less than the best estimate. If probabilistic methods are used, there should be at least a 50 percent probability (P50) that the in-place volumes will equal or exceed the best estimate.

Undiscovered Resources:

Undiscovered Oil Initially-In-Place (equivalent to undiscovered resources) is that quantity of petroleum that is estimated, on a given date, to be contained in accumulations yet to be discovered. The recoverable portion of undiscovered petroleum initially in place is referred to as "prospective resources," the remainder as "unrecoverable."

Prospective resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects.  Prospective resources have both an associated chance of discovery and a chance of development.  There is no certainty that any portion of the resources will be discovered.  If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.

Exploration for hydrocarbons is a speculative venture necessarily involving substantial risk. TAG's future success in exploiting and increasing its current reserve base will depend on its ability to develop its current properties and on its ability to discover and acquire properties or prospects that are capable of commercial production. However, there is no assurance that TAG's future exploration and development efforts will result in the discovery or development of additional commercial accumulations of oil and natural gas. In addition, even if further hydrocarbons are discovered, the costs of extracting and delivering the hydrocarbons to market and variations in the market price may render uneconomic any discovered deposit.  Geological conditions are variable and unpredictable. Even if production is commenced from a well, the quantity of hydrocarbons produced inevitably will decline over time, and production may be adversely affected or may have to be terminated altogether if TAG encounters unforeseen geological conditions. TAG is subject to uncertainties related to the proximity of any reserves that it may discover to pipelines and processing facilities. It expects that its operational costs will increase proportionally to the remoteness of, and any restrictions on access to, the properties on which any such reserves may be found. Adverse climatic conditions at such properties may also hinder TAG's ability to carry on exploration or production activities continuously throughout any given year.

The significant positive factors that are relevant to the resource estimate are:

Proven production in close proximity;
Proven commercial quality reservoirs in close proximity; and
Oil and gas shows while drilling wells nearby.
The significant negative factors that are relevant to the resource estimate are:

Tectonically complex geology could compromise seal potential; and
Seismic attribute mapping in the two, deep, liquids'-rich gas plays can be indicative but not certain in identifying proven resource.

Analogous Information:

Certain information in the Information Materials may constitute "analogous information" as defined in NI 51-101, including, but not limited to, information relating to the areas in geographical proximity to the lands held by TAG. Such information is derived from a variety of publicly available information from government sources, regulatory agencies, public databases or other industry participants (as at the date stated therein) that TAG believes are predominantly independent in nature. TAG believes this information is relevant as it helps to define the reservoir characteristics in which TAG may hold an interest. TAG is unable to confirm that the analogous information was prepared by a qualified reserves evaluator or auditor or in accordance with the Canadian Oil and Gas Evaluator Handbook. Such information is not an estimate of the reserves or resources attributable to lands held or to be held by TAG and there is no certainty that the reservoir data and economics information for the lands held by TAG will be similar to the information presented therein. The reader is cautioned that the data relied upon by TAG may be in error and/or may not be analogous to TAG's land holdings.

Cautionary Note Regarding Forward-Looking Statements:

Statements contained in this news release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of TAG. Such statements can be generally, but not always, identified by words such as "expects", "plans", "anticipates", "intends", "estimates", "forecasts", "schedules", "prepares", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.  All estimates and statements that describe the Company's objectives, goals, and or future plans with respect to the drilling in the East Coast Basin are forward-looking statements under applicable securities laws and necessarily involve risks and uncertainties including, without limitation: risks associated with oil and gas exploration, development, exploitation and production, geological risks, marketing and transportation, availability of adequate funding, volatility of commodity prices,  environmental risks, competition from other producers, and changes in the regulatory and taxation environment. Actual results may vary materially from the information provided in this release, and there is no representation by TAG Oil that the actual results realized in the future would be the same in whole or in part as those presented herein.

Other factors that could cause actual results to differ from those contained in the forward-looking statements are also set forth in filings that TAG and its independent evaluator have made, including TAG's most recently filed reports in Canada under NI 51-101, which can be found under TAG's SEDAR profile at www.sedar.com.

TAG undertakes no obligation, except as otherwise required by law, to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors change.

SOURCE TAG Oil Ltd.


Quelle: PR Newswire  

http://www.ariva.de/news/...am-and-Provides-Operations-Update-5028285 GrB