TAG Oil Blog

2014 New Zealand Petroleum & Minerals Block Offer Awards

Posted by Denise della Santina on Dec 16, 2014 2:31:00 PM

Every year, the government of New Zealand allocates petroleum exploration permits in an annual tender called a Block Offer. This year’s was the most successful to date, with 15 permits granted, totaling 405,000 square kilometers. There was strong interest from existing operators and new players, paying off New Zealand Petroleum & Minerals’ efforts to raise awareness of New Zealand’s oil and gas exploration potential, and the government’s commitment to support responsible investment in petroleum exploration. 

TAG Oil received both permits that we bid on, both located in the Taranaki Basin: Permit 57065 (“Sidewinder North”) and Petroleum Exploration Permit 57063 (“Waiiti”), adding 36,781 acres to the Company’s portfolio. As noted in a press release late last week, the permits are situated in a prolific oil and gas production fairway in close proximity to producing oil and gas fields, making them strategic for TAG, and complementary to our existing producing operations.

Sidewinder North provides an opportunity to extend TAG Oil’s known Sidwinder oil and gas discovery play area, while Waiiti gives TAG the opportunity to explore for both shallow Miocene oil and deep Eocene condensate-rich gas, where a prior operator encountered significant elevated gas and oil shows. 

Tag OilNew Zealand Country Manager Max Murray (left) at the ceremony with Minister of Energy and Resources, Simon Bridges (right). 

Topics: Taranaki, Announcements

2014 TAG Oil Scholarship Winner

Posted by Denise della Santina on Nov 25, 2014 2:37:00 PM

TAG MatthewMatthew Kowalewski is the 2014 recipient of TAG Oil’s $5,000 scholarship, awarded annually to a promising senior from Stratford High School that is interested in an oil and gas-related field of study.

In Matthew’s case, he plans to tackle a double major in geology and physics next year at Waikato University.

In a competitive field of high-achieving local students, it was Matthew’s combination of strong academics, solid work ethic, and demonstrated leadership that impressed the TAG scholarship team. "We look for well-rounded individuals who deliver academically but also have a positive influence at school," said TAG country manager Max Murray. 

Matthew has those characteristics in spades, and we look forward to seeing what this bright and driven young man achieves in the years to come. Congratulations!

Topics: community, Announcements

Farewell Ron, and welcome Dr. Ellenor

Posted by Denise della Santina on Nov 7, 2014 3:21:00 PM

TAG WEB RonfAs announced via press release earlier this week, Board member Ronald Bertuzzi is retiring. In a statement Wednesday, Chairman Alex Guidi said, “I would like to personally extend my sincere appreciation to Ron for his many years of dedicated service to TAG Oil, starting back from the Company’s formative years. Ron has been an enthusiastic and valuable contributor.”

We echo that sentiment, and wish Ron the very best in retirement. So long, Ron!

Dr. Douglas Ellenor, PhD Geology will step in to join the Board. Dr. Ellenor has a proven track record of finding oil as well as managing large capital programs, including major acquisitions and divestments over the course of his career. More to come on Dr. Ellenor soon.

Topics: Announcements

TAG Oil Proud to be an “Overall Energy Company of the Year” Finalist

Posted by Denise della Santina on Aug 19, 2014 11:41:00 AM

Following a rigorous judging process, TAG Oil was delighted to be a finalist in the prestigious Deloitte Energy Excellence Awards, as one of just four companies in the Overall Energy Company of the Year category. 

Chairman of the Judging Panel Richard Westlake said the caliber of entries was extremely high and the finalist selection process had been a tough one. The finalists were: 

  • Meridian Energy
  • TAG Oil
  • Shell New Zealand
  • Mighty River Power

Although TAG Oil was edged out by global “supermajor” Shell (Shell New Zealand), we got great feedback and support, and are pleased with what we’ve accomplished in New Zealand to date.  Said Judge Westlake, "The judging panel was impressed by the depth and quality of the entries and our task certainly hasn't been easy. Some of the entries this year were the best the panel has seen."

Energy Awards 2 edit

Representing TAG Oil at the blacktie gala were, left to right: Ryan Brown, Carey Davis, Chris Ferguson, Shane Hamnett and Drew Cadenhead. 


Now in their fifth year, the Excellence Awards provide an opportunity to recognize excellence and achievement across the electricity, oil, gas and petroleum industries.

Whether it’s providing New Zealand homes and businesses with a reliable energy supply or exploring the country’s underdeveloped resources, this sector provides exciting opportunities for innovation and investment.               

The Deloitte Energy Excellence Awards have been formed to recognise and celebrate excellence across the many disciplines that comprise the sector. “                       

                                     --- Hon Simon Bridges, Minister of Energy and Resources

 

Topics: community, Announcements, TAG shareholders, New Zealand

Welcome aboard, Max

Posted by Denise della Santina on Aug 6, 2014 10:23:00 PM

As we bid goodbye to Randy Toone, who returns to North America, we’re happy to welcome, effective September 1, 2014, Max Murray to the TAG Oil team as our New Zealand Country Manager.

MaxMurrayMax is a 30-year oil and gas industry veteran with a deep understanding of the New Zealand oil and gas landscape. He’s an excellent person to help TAG continue its evolution from a junior explorer to the busiest integrated explorer and producer of oil and gas in New Zealand.

Over six years with Origin Energy, Max was most recently Manager of Production Upstream E&P and Senior In-Country Manager, accountable for the safe and efficient operation of all producing assets across Australia and New Zealand. Max previously held senior positions with Swift Energy New Zealand, Ras Laffan Liquefied Natural Gas Co. Ltd., and Methanex New Zealand.

Topics: Announcements, New Zealand

What oil and gas means to New Zealand

Posted by Denise della Santina on Jun 2, 2014 10:59:00 AM

TAG Oil’s second new video (2 minutes and 21 seconds) shows the contributions natural resources make in New Zealand. In two parts, the first section focuses on economics: the positive economic benefits of oil and gas in terms of GDP and employment, what TAG Oil contributes, and some of the potential still to be explored. From our perspective, this can be done safely and responsibly, taking great care to respect the land, leave a small footprint, and co-exist in harmony with our neighbors.

The second part of the video shows some of the unexpected places petroleum products show up in our daily lives. Fuel, paint and tires, we know, but solar panels? Canoes? Smartphone components? Toys? And yes, even beauty products. We take these things as much for granted in modern life as we do the fresh New Zealand air that we breathe and the clean water we drink.

Conservation helps every single one of us. But the next time you grab your surfboard and drive to the beach, recognize that we’re all also consumers. Here’s to a good balance!

 

TAG Oil in New Zealand from TAG Oil on Vimeo.

Topics: Announcements, New Zealand

TAG Oil's story gets shared via OTC Markets

Posted by Denise della Santina on May 6, 2014 8:21:00 AM

TAG Oil founder and Chairman Alex Guidi takes a step into the spotlight, to talk to the folks at OTC Markets.

Image 2 resized 600

As this month's feature interview, we got the chance to spread the news TAG's oil and gas drilling success, record revenues, exploration strategy, and sound financial fundamentals, as well as New Zealand's major untapped potential. 

Says Chairman Guidi, "Exploration is a risky business. However TAG Oil is an opportunity for investors to participate in a high-impact exploration company with risk mitigated by a foundation of reserves and an established production base. We have years of development drilling opportunities ahead, state-of-the-art infrastructure in place to handle growth, and a portfolio of drilling opportunities with significant undiscovered resource potential.... When you consider the significant undiscovered potential, a ready market for domestic consumption of natural gas, and the premium quality, high-netback oil sold into the Australasian market, TAG’s potential in New Zealand is very compelling."

Read the full interview here: TAG Oil's OTC Interview

TAG Oil is a member of the OTCQX, designed for investor-focused companies that meetdescribe the image high financial standards, are current in their disclosure and receive third party advisory. According to OTC, "The companies found on OTCQX are distinguished by the excellence of their operations and diligence with which they convey their qualifications." 

Topics: third-party reports, Financial coverage, Announcements

TAG Oil meets the public at the Hong Kong Mines & Money event

Posted by Denise della Santina on Mar 24, 2014 5:14:00 PM

Hong KongWe're joining mining companies from around the world over the next few days at the Hong Kong Mines & Money show, which is in its seventh year and attracts thousands of investors. Since HK is closer to where we operate in New Zealand, we thought it was a good chance to meet some investors closer to the source.

With TAG's revenue up 19% for the three months to December 31 (to $12.9 million), and net income more than quadrupled compared to the prior year period, this is a good time to be out and about with the TAG Oil story. And with operating netbacks of $78 / barrel of oil during the latest period, which is once again substantially higher than what's being achieved in North America, it's a great time to be operating in close proximity to Asia.

This five-day event runs from 24-28 March at the Hong Kong Convention and Exhibition Centre, with a good line-up of speakers. If you happen to be in the area, drop by and chat with our IR Director Seth Kay, and pick up some materials that are hot off the presses.

Topics: Announcements

Another US-Based investment newsletter follows TAG Oil

Posted by Denise della Santina on Mar 9, 2014 6:30:00 PM

Bill Mathews, editor of the investment newsletter The Cheap Investor, featured TAG Oil in the March 2014 issue.

Citing TAG's excellent balance sheet, increasing revenues and earnings, and undervalued stock price, the editors, "believe TAG Oil has the potential to move at least 50 to 100% over the next year."

They also suggested that TAG list on the NASDAQ or NYSE MKT Exchange in addition to the Toronto Stock Exchange and OTC, for better exposure and a greater institutional following in the U.S.

Bill, we'll let you know if we take your advice! 

Screen Shot 2014 03 06 at 5.51.22 PMThe CHEAP Investor has a stellar track record of picking winning stocks. Their philosophy is based on hard work, researching hundreds of stocks in order to find the ones that are undervalued, and selling at a good low price. For the 56 months ending June 2013 (their last accounting), they've recommended 265 winning stocks out of 268 chosen, with average gains of 179%.

Topics: Financial coverage, Announcements

Peanut butter & jelly, oil & gas, kids & dinosaurs

Posted by Denise della Santina on Feb 20, 2014 1:40:00 PM

Screen Shot 2014 02 19 at 3.16.47 PMSome combinations, like the ones in our title,  are tried and true classics. While others need a little extra encouragement.

So TAG Oil and its Kaheru joint venture partners Beach Energy and New Zealand Oil and Gas are harnessing kids’ love of dinosaurs – and their unlimited imaginations – to bring science to life outside of the classroom.

We’re in the business of fossil hunting, and we think there’s a great story to tell right under the feet of New Zealand’s kids that will ignite their interest in geology and the sciences in general.

So the JV is sponsoring “What Lives Down Under,” to teach and engage online and in a traveling roadshow. It’s fun for us to get in touch with our inner kid once in awhile, too.  

Topics: Taranaki, Announcements, New Zealand, oil and gas production