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Interesting News On Tag Oil Cardiff Drilling

|Includes:TAG Oil Ltd. (TAOIF)

Link to news:

The company has not reported a discovery yet but has mentioned the gas kicks on its recent update. This quote from the article is interesting.

In a statement released yesterday, the Canadian-listed company said it is experiencing gas "kicks" of up to 20 times background levels in its Cardiff-3 well west of SH3 at Ngaere.

Energy industry sources in Taranaki say any gas encountered as low as two to three times background levels is normally deemed to be commercially productive - so what Tag Oil is now experiencing may mean the company has made a very significant gas strike.

Disclosure: I am long OTCQX:TAOIF.

Stocks: TAOIF