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TAG Oil to Drill High Impact Exploration Well and Provides Operational Update
TAG Oil to Drill High Impact Exploration Well and Provides Operational Update Cana...
About this update from Tag Oil Ltd
[{"type":"text","content":"\n\n\n\nTAG Oil to Drill High Impact Exploration Well and Provides Operational Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Jan. 16, 2018\n\n\n\nVANCOUVER, Jan. 16, 2018 /CNW/ - TAG Oil Ltd. (the \"Company\" or \"TAG Oil\") (TSX: TAO and OTCQX: TAOIF) is pleased to provide the following update on its operations in New Zealand and Australia.\n\nPlease click here to view a video update of TAG Oil's operations from its CEO, Toby Pierce.\n\nNew Zealand Exploration Drilling\n\nTAG Oil and its joint venture partner (Melbana Energy - 30% WI) have begun operations on the Pukatea-1 exploration well. The Nova-1 drill rig is expected to be mobilized to the drilling pad by mid-January, with drilling expected to commence on or around January 25, 2018 from the existing production pad. The Puka permit (PEP 51135, 70% TAG Oil) covers an area of approximately 85km2 (21,000 acres) and is located close to existing infrastructure and several low-cost alternative development paths.\n\nThe primary objective of the Pukatea-1 well will be the deep Tikorangi Limestone formation, which will be drilled to a total depth of ~3,170m. The Pukatea-1 well is adjacent to the Waihapa oil field that has produced more than 23 MMbbl from the Tikorangi Limestone and where individual wells produced up to ~5,000 bbl/d. In addition to the high impact Tikorangi Limestone exploration opportunity, TAG Oil has identified a secondary objective to intersect in the shallower Mt. Messenger formation while drilling on the way to the deeper target. This has resulted in some technical adjustments to the drilling plan, which include adding an additional wireline logging run for data gathering and an additional casing string to isolate the Mt. Messenger formation.  \n\nThe updated design for the wellbore path is expected to intersect the Mt. Messenger sands approximately 150m east of the Puka-2 wellbore (currently shut-in and awaiting a work-over).  The Puka-2 well tested 719 bbl/d of oil over a 12-hour period on a 22/64\" choke back in April 2013.  \n\nNew Zealand Produ...