Replies to post #1061 on TAG Oil Ltd (TAOIF)

[DANA1]

The Report lays out the development plan as follows:

Phase 1 (completion date January 2013) - drill & test 4 wells - 2 at Boar Hill & 2 at Waitangi plus complete 130 kms 2D Seismic.

Phase 2 (completion date April 2014) - drill & test 2 horiztontal wells in either North or South permit depending on success in Phase 1. Also complete 3D Seismic.

Phase 3 (completion date early 2015) Drill & test 4 more wells in either permit depending on success of P1 & P2, continue with 2D Seismic.

Phase 4 will be when drilling really ramps up starting in 2015 depending on successes of P1, P2 & P3.

NOTE: - Apache can withdraw at the end of any phase if they are not happy with the results.

There are only 10 wells planed to be drilled over the next 3 years, unless of course Apache & TAG make changes to the plan.

Looking forward to April & of course the Ranui 2 well currently being drilled by NZEC on the East Coast. By mid year we should have some sort of idea how successful the East Coast is going to be.

[futrcash]

I Really Like Tag's Proactive and Transparent Environmentally Responsible Approach!

This is by far the most Enlightened disclosure I've ever seen in the Industry-
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Near Term Timeframes contained in following quote-

PHASE 1 TIMING & ACTIVITIES
Phase 1 of the project will take nearly a year to complete. It commences with the permitting
and landowner consent process to acquire the seismic data, followed by the surveying of the
lines and drilling of the ‘shot holes’. The actual recording is expected to occur before and after
the Christmas period. Clean-up and remediation of the shot holes and lines follows in the New
Year.
It will take two months to process and interpret the seismic lines and finalize the well locations
to drill. Following that, we will permit and licence the wells, in March and April, 2012; and as
soon as possible, construct the road access and well pads.
Drilling will commence in early April, 2012. We plan to begin drilling in the South region, drill
the two wells there, then move north in about June of 2012. Each well will take about a monthto drill, though some may be quicker and some longer due to differing depths of the targets. By
August 2012, all drilling should be finished.
Testing is the activity whereby we stimulate or hydraulically fracture and flow back the wells.
Testing will occur for those wells we believe have found oil. Ideally, it will begin before the last
well has finished drilling, and all testing is to be completed before October, 2012.
The remaining months of 2012 will be spent evaluating the well results. There will be little
activity in the fields. We must make our decision to proceed to Phase 2 of the project or exit
the play altogether at the end of 2012.

futr

[futrcash]

All Time High Today!

chart approaching a golden cross crossover!



futr