Field news and more

A quick update on Cardiff’s deep gas/condensate well

To wrap up our excitement on drilling our first deep gas well…   Drilling of Cardiff-3, targeting the high-impact Kapuni formation is nearing completion. As reported, the early signs are positive and we’ll be likely carrying out a full testing program over the next few months. We didn’t want you to think that no news was anything but good news,…

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Exchange approval for continued share buyback

Via press release on Friday (and here for those of you who missed it) TAG announced its intention to acquire up to 6,073,339 of its common shares for cancelation through the Toronto Stock Exchange, subject to TSX acceptance.    TAG’s share buyback program is based on our belief that the market price of the Company’s shares…

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Ngati Ruanui kaumatua Ngapari Nui and TAG Oil sow the seeds of respect

In early October we were delighted to sign a formal partnership agreement with Ngati Ruanui, whose traditional tribal lands extend from Hawera to Stratford, in the Taranaki. This was a high priority for TAG, and we worked diligently to get here, as it forms the foundation for a long, strong and mutually beneficial relationship for…

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Q2 2014 continues exciting times for TAG

Here’s an excerpt from TAG Oil’s Q2 conference call, conducted by Chief Executive Officer Garth Johnson and New Zealand Country Manager Randy Toone on November 14th. You can listen to the full podcast and see the Q2 financials here, or here’s a highlight for those of you who don’t want to listen to the whole recording.   …

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Plant news: Lifters lag, but Cheal E up and running in record time

TAG committed to its Cheal E facility after drilling the E1 well, and less than two months later, the new oil-handling facility is in place: designed, constructed and commissioned in record time…and we’re flowing oil through this new facility today. All successful E site wells can now be tied straight into this permanent plant.   In…

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Cheal-E individual well testing underway

Cheal-E continues to provide good news, with three wells cased as potential oil wells – one of which is being flow tested – and Cheal-E 4 now drilling ahead.   To ensure more reliable production forecasting on future wells, we’re following a protocol of initially testing each well individually: with each flowing for approximately 15…

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Cardiff-3 deep gas drilling: One zone at a time, so far so good…

Patience is the watchword with Cardiff-3, which hit 4,300 meters this morning.    We’ve got strong gas shows in the target formations penetrated to date – as expected – with strong mudlog shows of up to 85% total gas readings in the top sections of the Kapuni Formation. But we need to be patient with…

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30-Days’ Deep on Cardiff-3 Drilling

Cardiff-3 has reached a depth of 3,918 meters on day-30 of its drilling, and we expect it will take another two weeks to hit our projected depth of 4,900 meters. At that point, we should know whether to proceed with hydraulic fracturing stimulation or not, depending on the total meters of net gas pay, permeability, and the…

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Perforation action shots at the Cheal-E2 site

While our deep prospects have been dominating the news, the team is moving ahead methodically drilling TAG’s shallow oil and gas prospects at Cheal. They took a minute to send some shots from the field of a recent perforation at Cheal-E2, as well as modeling some of the new equipment that’s in place to move…

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Drilling Deep in the Taranaki Basin

The team spudded the Cardiff-3 well on September 2nd, and we expect it will take six weeks total to reach its projected depth of 4,900 meters. As of yesterday, we were at about 1,000 meters.   This is the kickoff to our high impact, deep drilling campaign in Taranaki, which will run over the next…

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