Tag Oil Cashheavy Wildcatter in NZ - 500 Beiträge pro Seite

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Nach langer Zeit schaffe ich es endlich mal wieder hier zu posten.

General Info:

- $22 in cash
- 3.7 million gross acres (1.9 net) and additional 10 million under application
- 19 exploration wells over the next 2 years (Capex of $20can net to tag)
- positive cashflow current production is more than covering g&a
- 30% flat corporate tax royalty 5% before payout 20% after

- On the Taranaki Basin: 350 wells drilled (12 pools discovered) since 1865 size half of Alberta which has 500,000 wells drilled
- The average shallow well is doing 600-800 bopd
- Creaming Curve is looking good
- Acquisitions are explained as eat or be eaten especially to get access to rigs. They are in NZ but the problem is to keep them there. Hence a bigger portfolio which enables to contract a rig longer term.
- Contracted the parker rig for a year

Cheal:

- production currently 100 boe/d forecast of 580 boe/d by q207 1mm 2p reserves from Cheal
- Cheal Wells are $1,5-2 million in cost (2000 meters)
- Brecon 3D seismic revealed Cheal is bigger than previously anticipated. Want to drill 10 wells, now. After evaluation of what they have, then they might think about increasing the production facilities.


Prospects:

- Prospects: Next to the Supplejack discovery there is the Waitoriki Prospect (Deep Gas) P50 Resource of 45 BCF + 3mm bbls oil net to TAG
- Radnor (low permeability) currently looking at how they could produce it. On those deep prospects there have never been modern techniques used like underbalanced or horizontal or modern fraccing techniques. TAG is looking to use such techniques in future to exploit those discoveries.
- Wildcatters: Wairarapa Basin: no wells drilled to date. Shot 3D seismics. Have seen oil seeps on the surface. Not drilling in 07 but probably 08. Also might have very thick oil shale play underneath as unconventional play.
- Northland Basin (offshore): (under application) 10 million acres. One COP well in the 80s had oil and gas shows. Drilling in 2010 or so after seismic etc.
- Canterbury (1.4 million acres, mostly offshore): Onshore (100% ownershio)they have a P50 resource of 80 mln bbs on the Salmon prospect. In this permit PEP 38256 they want to use slimhole drilling for 1/3 of usual cost. They need to gather some data and need to drill some wells learn about geology etc. Same is for the Kate Prospect PEP 38260. There are oil seeps around the anticline (would be 1200 meters)


3 Wildcat wells underway. Mangamingi wird gerade gecased. Kate-1 and Ratanui Nr. 1 will be spudded in February.

Na wenn das nix ist.

Denglisch Ahoi.

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TAG strikes oil in eastern Taranaki
Neil Ritchie, New Zealand
Wednesday, 24 January 2007
CANADIAN-listed junior TAG Oil has struck oil with its first wildcat well, Mangamingi-1, in the rugged hills of eastern Taranaki, New Zealand, and plans to test the well to determine the commercial significance of the hydrocarbon shows encountered.

Drilling in onshore Taranaki, New Zealand

"We had some very solid oil shows and are casing the well, as we think the well is worth further testing," TAG president Drew Cadenhead told PetroleumNews.net this morning.

"Mangamingi-1 has confirmed our theory that oil has migrated through the underlying wedge of thrusted basement sediments and has accumulated in the overlying shallow Miocene sediments in this under-explored eastern region of the Taranaki Basin."

Mangamingi-1 reached a total measured depth of 1871m (vertical depth 1550m) over the weekend and, after evaluating drilling data, including logging, TAG decided to case the well in preparation for further testing.

Cadenhead had earlier told PNN that TAG saw potential in several shallow Miocene-aged sands – the conventional Kiore sands, similar to those found in Swift Energy's Kauri oil field to the south, and the Urenui and Mount Messenger sands, the producing formations at the nearby Cheal oil field that TAG and operator Austral Pacific Energy own. TAG was also keen to test the unconventional potential in the fractured Murihiku Basement.

Today Cadenhead said Mangamingi-1 had oil shows in the cuttings over "a very large interval, which is very uncommon in Taranaki". While not continuous, there were shows over all the targeted formations, including the fractured basement. There were also oil shows in the sidewall cores taken.

He added that TAG would now initiate a testing program, depending on equipment availability, over the next two weeks. That program should include perforating a couple of zones where sidewall cores had been taken.

Mangamingi-1 is only the third well to be drilled in the eastern Taranaki hinterland and follows the 1964 Kiore-1 well, drilled by Shell BP and Todd, and Tiwakawaka-1 drilled in 2004 by Greymouth Petroleum – both of which were unsuccessful.

"It seems that too far east or west and there are no hydrocarbons," Cadenhead said.

"However, we seem to have struck the hydrocarbon belt in the middle."

TAG, which holds 100% equity in the licence PEP 38758, conducted geochemical sampling and a 35km 2D seismic survey over part of the permit last January to help pinpoint likely zones of interest and the best drilling site.

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TAG hat an Cheal die anderen 31,5%. Is übrigens interessant sich bewertungstechnisch AEN und TAG anzusehen, kann man ab und an ganz nett den random walk arbitragieren.

Press Release Source: Austral Pacific Energy Ltd.

Austral Pacific Updates Operational & Corporate Matters
Wednesday January 31, 4:01 pm ET

WELLINGTON, New Zealand, Jan. 31 /PRNewswire-FirstCall/ -- Austral Pacific Energy Ltd. (TSX-V: APX; NZSX: APX; Amex: AEN)

Cheal -- PMP 38156 -- New Zealand

The Company is pleased to report that three of the four Cheal development wells drilled from the northern Cheal B location during November/December 2006 have been successfully completed and perforated. Production testing of the first of the three wells, the Cheal B3 well, commenced late on 26th January 2007 and over the first four days the well produced a total of 1972 barrels of 38 API oil and 1.24 million standard cubic feet of gas with no water at an average rate of 493 barrels of oil per day and 310 thousand standard cubic feet of gas per day. The well is currently flowing naturally without artificial lift and is choked back to maintain a flow rate of approximately 500 barrels of oil per day. Testing of the other two Cheal B site wells will commence in February and further announcements will be made at that time.

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The fourth well, B4, which was drilled as an exploration well to test sands to the north west of the Cheal field's bounding fault and successfully confirmed the presence of hydrocarbons beyond the currently defined limits of the field, will be side-tracked and is expected to be completed as a development well at a later date following a further review and interpretation of seismic data in that area.

Construction of the Cheal production facilities continues at the Cheal A site and progress remains on schedule. All three 2000 barrel tanks and both the 400 barrel tanks have been installed. Front-end engineering design on the pipelines connecting the A and B sites has been completed and reviewed and detailed design is now underway. Arrangements to secure the long term sale of both oil and gas are under negotiation.

Austral Pacific holds a 69.5% interest in the permit and is the operator.

Douglas -- PPL 235 -- Papua New Guinea

The 2D seismic data acquired in 2006 has now been processed and interpreted. The data has identified and confirmed drilling locations on the northern sector of the Douglas structure. It has also identified the nearby Puk Puk prospect as being a valid exploration drilling target. Further specialized seismic processing will be conducted to determine if the data can be used to predict the presence of hydrocarbons at reservoir level elsewhere on Douglas and in the Puk Puk prospect, as was the case at the Douglas-1 well.

The pre-feasibility study commissioned in 2006 to examine and rank options for the development of the Douglas resource was received and reviewed by the PPL 235 joint venture participants in December. The study examines a range of technologies for commercializing the Douglas gas discovery and identifies several potentially economically viable options. Two of these options, one of which involves a major longer term user and a second that would exploit gas through power co-generation on a smaller scale but with more immediate prospect of commercialization, are now being actively pursued.

Austral Pacific holds a 35% interest in the permit which is operated by Rift Oil.

Ratanui-1 -- PEP 38741 -- New Zealand

The Ratanui-1 exploration well is expected spud on or about 1st February 2007. The well, located east of Inglewood in onshore Taranaki, is targeting the Urenui and Mt Messenger sands of Miocene age such as those encountered at Cheal. Drilling to a total depth of 2120 meters (6955 feet) is expected to take approximately two weeks. The estimated well cost on a dry hole basis is US$1.54 million.

Austral Pacific holds a 55% interest in the permit and is the operator.

Corporate

The Company's Chief Executive Officer, Mr. Rick Webber, has initiated an investor outreach program commencing in New Zealand. A copy of his presentation is available on the Company's website.

The Company's Chief Financial Officer, Mr. Bruce McGregor, has advised the Company his intention to resign for personal reasons and will leave the Company on 23rd February 2007. A search for a replacement for Mr. McGregor along with recruitment of several other technical and administrative positions is currently underway.

None of the Exchanges upon which Austral Pacific's securities trade have approved or disapproved the contents hereof. This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of applicable legislation. Other than statements of historical fact, all statements in this release addressing future production, reserve potential, exploration and development activities and other contingencies are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements, due to factors such as market prices, exploration and development successes, continued availability of capital and financing, and general economic, market, political or business conditions. See our public filings at www.sedar.com and www.sec.gov/edgar/searchedgar/webusers.htm for further information.

Web site: www.austral-pacific.com

Email: [e-mail]

Phone: Rick Webber, CEO [phone]


Source: Austral Pacific Energy Ltd.

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Nice. Der Kurs zieht auch ein bisserl an.

TAG Oil Spuds Ratanui-1, Updates Operations
Wednesday January 31, 7:05 pm ET

VANCOUVER, Jan. 31 /PRNewswire-FirstCall/ - Independent Canadian oil and gas company TAG Oil Ltd. (TSX-V: TAO and OTCBB: TAGOF) announced that the Ratanui-1 exploration well in PEP 38741 (TAG 45%) in onshore Taranaki, New Zealand, is expected to commence drilling operations later today. The well is scheduled to drill to a depth of 2,120m (6,955'), and will take approximately 14 days to reach total depth. The well is targeting two separate zones within the Miocene-aged Mt Messenger Formation.

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TAG Oil President Drew Cadenhead commented: "Ratanui-1 is a follow-up to our SuppleJack discovery last year. We have confirmed this area to be oil and gas bearing with the SuppleJack wells, Ratanui is targeting the same Formations."

Mangamingi-1:

After analyzing oil shows and wireline log data from the recently drilled Mangamingi-1 well (TAG 100%) in PEP 38758, onshore Taranaki, New Zealand, a completion and testing program is now under design. It is anticipated that the Ensign Service Rig #6, which is scheduled for availability the fourth week of February, will be utilized for the work.

Cheal:

The Cheal development program in PMP 38156-S (TAG 30.5%), onshore Taranaki, New Zealand, is progressing on time and on budget. Production testing has now been initiated on the recently drilled Cheal-B site wells. Cheal B-3 is currently under test and has averaged 450 BOPD in the first seven days of the test program. TAG Oil President Drew Cadenhead commented: "Cheal B-3 is our first well to be tested of the recent four-well drilling campaign. This well is showing impressive potential so far, we look forward to the cash flow from the Cheal program as a whole, which is on schedule for full capacity by mid-year."

About TAG Oil:

TAG Oil Ltd. is an independent Canadian oil and gas exploration and production company with a well-balanced portfolio of assets in and around the Canterbury, Taranaki and East Coast basins of New Zealand. With exploration permits totaling 3,686,593 gross acres (net 1,847,593). TAG Oil is one of the largest holders of prospective acreage in New Zealand.

Forward Looking Statements:

Statements contained in this news release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of TAG Oil. Actual results may vary materially from the information provided in this release. As a result there is no representation by TAG Oil that the actual results realized in the future will be the same in whole or in part as those presented herein. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements, are set forth in filings that the Company has made, including the Company's most recent reports in Canada under National Instrument 51-102 and in the United States under Forms 20-F and 6K.