Production and Exploration Activities Continue as Planned: Incorrect Reports in Media

A recent article in The Taranaki News entitled “Drilling opposition puts 42 out of work” reported that “TAG Oil Ltd stopped production while it waits for resource consent for 18 new wells at its Cheal sites near Stratford.”  This report is inaccurate.

In fact, production has not stopped at Cheal, nor have any ongoing operations – such those related to our well testing program for our recently completed discovery wells (Cheal-C1, Cheal-C2, Cheal-A8 and Cheal B5) – been affected in any way.

In addition, TAG continues to complete work-over’s on existing wells at Cheal (Cheal-A1, Cheal-B1 and Cheal-B2) as well as acquiring seismic on our Sidewinder permit and in the East Coast Basin.

The issue reported on was a delay to the final well we were planning on drilling this year (the Cheal B6 well, the 4th in our current drilling program) due to the consenting issues that were brought forward. That said, we hope to be drilling again very soon – possibly prior to Christmas. We’re certainly hopeful we can we can get the Ensign rig workers back to work at Cheal as soon as possible.

TAG continues to employ a significant number of New Zealanders, all of whom are critical to our continued success. Our commitment to the communities where we live and work is just one of the reasons we conduct all our operations to the highest possible standards. We recognize how important it is to the people of New Zealand (which includes those who work with us, their families and ours!) that we conduct our business responsibly… and we will continue to do so.