TAG Oil Ltd. is an exploration-driven oil and gas production company at the forefront of activity in Australasia. We are a financially strong organization with several high-impact exploration prospects in proven prolific oil and gas fairways in Australia, a country recognized for its stability and significant untapped oil and gas exploration potential.
TAG Oil has a rich history of success, and our greatest opportunities still lie ahead.More
October 24, 2019
TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to provide this corporate update following closing of the sale of its New Zealand assets (the “Transaction”). Post the closing of the Transaction and certain adjustments for working capital, TAG has been significantly repositioned with a cash balance of ~C$41 million, ongoing cashflow from the 2.5% gross overriding royalty on all future production from the New Zealand assets sold, and up to US$4.5 million in future event specific payments payable on Tamarind Resources Pte. Ltd. achieving certain milestones. TAG has…
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