TAG Oil through the years

2018: Passing the torch

  • TAG sells New Zealand assets and operations
  • Revenue growth continues quarter over quarter
  • 23% increase in operating netbacks

2017: Staying ahead of the curve

  • ERC Equipoise assigns net present value of $82.12 million on proven and probable reserves
  • Field optimizations at Cheal helps stabilize production
  • Dividend paid by way of Coronado shares
  • Industry downturn persists but oil pricing on the rise

2016: Setting the Stage

  • Encouragement at Cardiff-3 well
  • New oil leg discovered at Sidewinder
  • More distressed asset acquisitions
  • Henrik Lundin appointed COO, Barry MacNeil appointed CFO
  • Dr. David Bennett joins the board
  • Low oil prices persist
international oil and gas

2015: Holding Steady through Challenging Times

  • Finished the year in strong financial position
  • New CEO Toby Pierce appointed
  • Capex slashed in response to falling global oil prices. 
  • TAG focuses on low-risk, low-capital, incremental production increases to maintain profitability
  • Founder Alex P. Guidi appointed as Interim CEO  
Tanker truck and TAG Oil building

2014: Operating to Plan — and Growing

  • Fiscal year ends with record revenue
  • Cardiff-3 flows gas/condensates. First stimulation attempt fails  
  • East Coast Basin Waitangi Valley-1 unconventional exploration drilling attempt failed due to  high pressured zones.
  • $60 million CapEx program announced funded through forecasted cash flow and working capital
New Zealand rig

2013: Optimized and Operating at Full Force

  • TAG Oil launches largest drilling campaign in New Zealand history
  • Production revenue hits $44.5 million for fiscal year
  • Ngapaeruru-1 unconventional well intersects hydrocarbon column in Whangai source rock
  • $40 million infrastructure expansion completed to facilitate production growth
  • Drilling continues in Taranaki
TAG Oil team members at Cheal

2012: Momentum Building & Setting Higher Goals

  • Successful drilling continues
  • National Bank Financial and Credit Suisse brings analyst coverage to nine
  • Company sees a 227% increase in production revenue, 300% increase in reserves
  • TAG closes $46,345,750 bought deal funding at $10.45 per share
  • Cheal B-7 becomes TAG’s 14th consecutive successful oil and gas well drilled
Man in blue hat working by valves

2011: Success and More Corporate Milestones

  • TAG graduates from TSX-V to the Toronto Stock Exchange (TSX)
  • 100% increase in production revenue
  • Trading begins on OTCQX International in the U.S.
  • New oil/gas discoveries at Cheal and Sidewinder
  • Mandate to build production and reserve growth
New Zealand oil and gas companies - TAG Oil

2010: Transformation

  • $53 million funding at $5.20 a share closed
  • TAG flows oil from bypassed Urenui discovery
  • Cardiff gas/condensate discovery acquired
  • Sidewinder-1 oil/gas discovery
  • 450% increase to reserves at Cheal field
  • Shallow drilling validates East Coast Basin unconventional oil prospects
TAG Oil 2009

2009: Paving the Way

  • TAG acquires Trans-Orient Petroleum, and unconventional prospects
  • Cash flow increases by approximately 300%
  • Operating costs reduced by 75% to $19 per barrel
  • TAG acquires 100% of Cheal oil & gas field
  • TAG sees opportunity in financial crisis
Cheal Facility - TAG Oil

2008: Retrenching

  • Exploration activity slows down; budgets slashed
  • Financial crisis; equity markets crash
  • Cheal dispute settled in TAG’s favor
  • Encouraging drilling results at Cheal
Men working Sidewinder drill

2007: Highs and Lows

  • Oil production generated only $938,838 in gross revenue
  • New Chief Executive Officer brought on board
  • Board changes
  • Drilling disappointments
  • Operating agreements create new challenges
TAG Oil growth in New Zealand

2006: Modest Growth

  • More drilling prospects established
  • TAG now a small oil producer
  • More Taranaki Basin permits acquired
  • Equity financing closed for $30 million

2002-2005: Putting the pieces in place

  • TAG acquires permit interests, increasing its land base to 1,512,710 net acres
  • Complex operations, including 3-D seismic and a detailed geochemical survey, managed in-house
  • More aggressive wildcat exploration drilling begins
  • Canaccord raises $15 million for TAG with institutions, enhances balance sheet
  • Secures listing on TSX-V


  • TAG increases its New Zealand acreage portfolio
  • Completes the largest onshore seismic survey ever acquired in New Zealand
  • Mt. Messenger prospects identified in the Taranaki Basin


  • TAG continues to build up permit stakes in the Taranaki Basin
  • Exploration drilling planned
  • More start-up capital raised from private investors


  • TAG embarks on a strategic initiative to acquire projects in New Zealand
  • Still in the minority of those touting the concept of Peak Oil
  • TAG Oil is founded by the IREMCO group and international oil and gas entrepreneur, Alex P. Guidi