12:14 PM EST - TAG Oil Ltd. : announced today that the Company is beginning the next phase of its Taranaki program, including exploratory and horizontal development drilling, and various workover operations including multi-stage fracture treatments. This program is within TAG's 100% controlled, 15,400-acre (24 Section) Broadside exploration and Cheal oil discovery acreage in the Taranaki Basin. The impact of this operation is anticipated to materially increase reserves, as well as the 420 barrels of oil and 400 mcf gas currently produced per day. TAG Oil Ltd.
shares V.TAO are trading even at $2.53.
