The Cardiff Deep Gas Discovery is TAG OIl’s

This sign will be changing soon. This is the entrance to the Cheal "C" site, which happens to be our new Cardiff site on PMP 8156-D.

This sign will be changing soon. This is the entrance to the Cheal “C” site, which happens to be our new Cardiff site on PMP 8156-D.

TAG Oil is now the proud holder of PMP 38156-D. It’s within the same permit boundary as our PMP 38156-S, where we’re producing oil and gas and developing discoveries in shallower formations. This ends the old permit split and TAG now controls 100% of all prospective formations within PMP 38156.

The Cardiff structure has been identified as a large anticlinal trap, some 12 km long by 3 km wide, with a number of potential pay zones within the Kapuni Sands Formation. Situated on trend and among several sizable deep gas/condensate discoveries including nearby landmark Kapuni and the prolific Mangahewa and Pohokura gas fields, the Cardiff gas/condensate discovery has the potential to become a substantial resource.

Gas with rich condensates was discovered at Cardiff within the upper Kapuni zone, which encountered 12m of net pay and flowed at over 3 million cubic feet and 100 barrels of condensate (light oil) per day with improving rates observed on long-term testing. This zone can be identified on 3D seismic to be a prospective target across the span of the Cardiff structure. And an even greater resource potential exists in the deeper K1A and K3E zones, where strong gas shows were encountered over a gross 600m interval. This will be a primary target in future Cardiff wells.