TAG controls a 100% interest in the Cheal Oil Field, which includes a relatively shallow, multiple zone, oil-and-gas discovery in the Mt. Messenger Formation (1800m), and the shallower Urenui Formation (1400m). PMP 38156 is situated in the main play area of the onshore Taranaki Basin, and is prospective for high impact reserve and production growth.
Since acquiring 100% interest in the Cheal field in 2009, TAG has successfully utilized modern completion technologies that have significantly increased reserves and production. In February 2011, TAG commenced an ongoing program to fully exploit Chealís lightly explored shallow zones.
A strong base of geotechnical and engineering data coupled with TAG's 3-D seismic coverage of the entire 7500-acre Cheal Mining Permit provides a clear foundation for future asset development. Furthermore, with the Cheal production facility in the heart of the development area, every new well can be brought on-stream quickly, efficiently and cost-effectively.
In April 2013, TAG completed its Cheal infrastructure expansion project in the Taranaki region of New Zealand, establishing itself as a completely independent processor, transporter, and marketer of the gas the Company discovers, extracts and produces.
Over the coming years, TAG will be drilling numerous "step-out" and exploration wells targeting lower risk, yet high-impact prospects identified across the remainder of the lightly explored 7500-acre Cheal permit area.