Multiple Basins with Multiple Opportunities
New Zealand is recognized as one of the few remaining potential, untapped oil and gas frontiers in the world. Most of the exploration attention in New Zealand has been focused around the Taranaki Basin, which has attracted the world’s most prominent international explorers. With fewer then 200 wildcats drilled since 1955, this prolific proven basin is still in its infancy — major discovery potential remains. With reported proved oil reserves of 534 million barrels and proved gas reserves of 7.3 trillion cubic feet discovered, TAG is firmly positioned with its fertile hunting grounds in Taranaki.
(Source: New Zealand Ministry of Economic Development http://www.crownminerals.govt.nz/cms/petroleum/facts-and-figures.)
The East Coast Basin, where TAG holds a significant portion of the prospective onshore area, exhibits dramatic oil and gas seeps, and exploration data reveals numerous high-impact, multi-zone conventional targets at depths between 250 to 2000 meters. The East Coast Basin's oil-rich tight source-rock formations are a widespread exploration target with major unconventional oil and gas potential.
And the Canterbury Basin, where TAG holds a million-plus-acre permit, has massive promise as one of the few remaining oil and gas frontiers left in the world. With easy access to Christchurch, an untapped natural gas market, this is an important long-term holding for TAG's exploration portfolio.
Stable Government, Low Costs and Above-Average Energy Value
New Zealand is an economically developed country where TAG Oil can continue to explore, develop and produce for years to come, enjoying the benefits of an international oil and gas portfolio without the political and economic disadvantages associated with many other parts of the world. New Zealand's permitting regime and fiscal terms are ranked among the best in the world, oil produced is sold at premium world prices, and there is a thriving domestic natural gas market.
For more information on New Zealand oil and gas exploration, as well as the latest news, maps and publications, please access New Zealand's Crown Minerals website.