QualityStocks'  Instablog

Send Message
QualityStocks (www.qualitystocks.net) assists publicly traded companies by getting their story out to the investment community while helping investors discover emerging companies with plenty of growth potential. Our name, QualityStocks, emphasizes our commitment to connect subscribers with... More
My company:
My blog:
QualityStocks Micro-Cap and Small-Cap Blog
  • TAG Oil Ltd. (TAOIF) Signs Farm Out Agreement on New Zealand Properties 0 comments
    Sep 2, 2011 5:16 PM | about stocks: TAOIF

    TAG Oil Ltd. announced the signing of a farm out agreement with Apache Corporation (NYSE:APA) on the company’s oil and gas properties in New Zealand. The company believes that this agreement is the best method to accelerate the exploration and development of these assets.

    TAG Oil Ltd. said that Apache Corporation has agreed to conduct an appraisal, exploration and development program on various areas of the company’s East Coast Basin properties. The company currently has more than one million acres of prospective properties in this basin.

    The farm out agreement will cover exploration permits PEP 38348, 38349 and 50940, and will require Apache Corporation to pay part of the company’s previous direct costs on the permits involved. TAG Oil Ltd. will also receive a full reimbursement of three future phases of operations on the properties.

    TAG Oil Ltd. said that each phase will involve drilling and seismic work and will earn Apache Corporation a set working interest percentage share of the properties. The company expects seismic work to begin shortly on the permit areas with drilling to begin in early 2012.

    Apache Corporation will be the operator for all work conducted under the farm out agreement, except for the first four vertical wells on the properties, which will be operated by TAG Oil Ltd., with the assistance of Apache Corporation.

    For more information on the company, go to tagoil.com

    Please see disclaimer on the QualityStocks website: disclaimer.qualitystocks.net

    Stocks: TAOIF
Back To QualityStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.