Abstract

TAG Oil (NZ) Ltd. is a Canadian oil and gas company with core business and production in the Taranaki Basin, New Zealand. TAG Oil is currently offering two farm-in opportunities in New Zealand, the Oligocene PEP 51153 Pukatea and the Eocene PMP 38156 Cardiff. The Pukatea prospect is an onshore, near vertical wildcat targeting shelfal limestones. Best case recoverable volume is 10.5 MMbbls. Opportunity to participate in upcoming drilling, appraisal of the Puka Field oil discovery and interpretation of down dip potential is offered; up to 40% working interest is available. The Cardiff discovery, PMP 38156, is an Eocene play. TAG Oil holds 100% ownership. Also located onshore, Taranaki basin, the discovery is a gas condensate target with a P50 GIIP of 160 BCF and a P50 OIIP 4.3 MMbbls. In the Cardiff discovery there are seven prospective horizons, three have been successfully tested for hydrocarbons. Up to 60% working interest is available.