TAG Oil has experienced heavy trading activity recently, with over 13 million shares traded in January. This is due in part to the news that Apache has exited our East Coast Basin joint venture as part of their global corporate repositioning.
We have strong support from analysts following TAG, and the entire TAG team including large shareholders are delighted to take back 100% control of the project, sending out positive feedback to the investment community.
We’re happy to move forward with the strong technical work that TAG and Apache accomplished together in the East Coast Basin, and are ready to begin exploration drilling in this frontier blanketed with conventional and unconventional oil and gas opportunities.
Says MPartners, “We view the quick, cash settlement with Apache positively.”
Says Credit Suisse, “We maintain our Outperform rating and raise our TP to $9.50.”
Says Casimir Capital, “TAG back in the driver’s seat…Recommendation: Strong Buy.”
Says National Bank Financial, “Reiterate Outperform Rating…We continue to like the stock at these levels.”