TAG Oil Reports Ngapaeruru-1 Exploration Well Progress in New Zealand's East Coast Basin

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[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, May 7, 2013 /CNW/ - TAG Oil Ltd. (TSX: TAO) and (OTCQX:\n TAOIF), is pleased to report that drilling of TAG's 100%-controlled\n Ngapaeruru-1 exploration well is drilling ahead, and has encountered\n elevated mud gas readings at a depth of 800 to 977 meters. The\n significance of the elevated gas readings will not be known until\n wireline logs have been run and evaluated.\n\n\nThe Ngapaeruru-1 well has reached intermediate casing point at 977\n meters with operations continuing according to the drill plan. The\n planned total depth of the Ngapaeruru-1 well is approximately 1800\n meters and is targeting the naturally fractured Waipawa Black Shale and\n Whangai source-rocks.\n\n\n\"We've passed a couple of critical drilling challenges successfully in\n the Ngapaeruru-1 well now, including cementing intermediate casing\n across the troublesome Weber and Wanstead Formations. TAG can now drill\n confidently ahead into the Waipawa and Whangai source rock targets.\"\n Drew Cadenhead, TAG's C.O.O. commented. \"We've had to increase the mud\n weights considerably as we drill deeper, and we continue to see rising\n mudlog gas readings, including the oil-indicative C3-C5 factions, which\n is encouraging. The \"oil kitchen\" in these source rocks is definitely\n working below us - it promises to be interesting drilling over the next\n couple of weeks.\"\n\n\nThe Ngapaeruru-1 well was spudded on April 22, 2013 and is located in\n TAG's 100% controlled Petroleum Exploration Permit 38349, located in\n the East Coast Basin of New Zealand.\n\n\nFor further information on the Ngapaeruru-1 exploration well and TAG\n Oil's unconventional prospects please visit: http://www.tagoil.com/20130422-TAG-Oil-First-Oil-And-Gas-Exploration-Well-East-Coast-Basin.asp\n\n\nTAG Oil Ltd.\n\n\nTAG Oil Ltd. (http://www.tagoil.com/) is a Canadian-based production and exploration company with operations\n focused exclusively in New Zealand. With 100% ownership over all its\n core assets, including extensive oil and gas production infrastructure,\n TAG is enjoying substantial oil and gas production and reserve growth\n through development of several light oil and gas discoveries. TAG is\n also actively drilling high-impact exploration prospects identified\n across more than 2,984,171 net acres of land in New Zealand.\n\n\nIn the East Coast Basin...

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