We at TAG Oil have no doubt that we've firmly positioned TAG to both grow and have a successful future, whether oil prices stay at their current levels or proceed to get higher.
Our beliefs are based on the solid foundation on which TAG has been built and expanded upon through our years of operations.
Here's a little bit of that foundation:
- Our experienced corporate, production, drilling and operations' teams bring a level of expertise that's unparalleled in the industry. The experience and belief in the Company have led the team to have skin in the game.
- A commitment to long-life production with potential resources upside.
- Although an international company, TAG's holdings are in stable and secure countries. New Zealand and Australia are both politically stable, fiscally attractive and under-drilled, and their untapped oil and gas potential has been compared to major producing regions in California and Norway.
- TAG is a low cost and high netback oil and gas producer. While we receive a premium Brent pricing our operating costs are some of the lowest in the industry. Currently, our break-even is a mere US$34/bbl.
- Our balance sheet is strong and contains no debt, with just 83.3 million shares outstanding.
- High working interest (>70%) and operatorship of all assets allows us to maintain operating and financial flexibility. TAG's three wholly owned processing plants and associated pipeline network are fully owned and operated, allowing for quick tie-ins.
As a company, we have drilled more than 40 wells focusing mainly on low-cost, onshore operations. And while high oil prices are never a bad thing in our business, we're confident that we'll achieve positive results from our strategic, fully funded work program for FY2017.