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Vancouver, B.C. (PRWEB) February 18, 2015

TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), is pleased to record the 1/3 quarter outcomes for fiscal yr ending March 31, 2015. the company finished running revenues of $ 12.28 million all over the quarter, and moderate day by day production grew eight% to 1,991 BOE/d (77% oil) compared to 1,845 BOE/d (78% oil) remaining quarter.

to see a desk of TAG Oil’s moderate day by day manufacturing and earnings per quarter, please consult with

rising TAG’s oil production from its core Taranaki Basin oil field construction area has been – and can continue to be – a priority, and has been trending consistently upwards for a long duration of years. TAG’s shallow Miocene drilling focus, which has been significantly de-risked thru in depth three-D seismic coverage and drilling over the last 4 years, will help fuel TAG’s reserve-primarily based boom in Taranaki. the company additionally expects growth to come from drilling success on attractive shallow and deep formation prospects along pattern with present oil and gas discoveries in Taranaki.

“I commend the TAG Oil staff for reaching a excellent result over the quarter, whereas reducing costs and choosing optimization opportunities,” commented Alex Guidi, TAG Oil Chairman. “although we are decreasing the level of high-risk capital expenditure, TAG controls a high quality, long-time period construction-stage asset, producing top class-priced (Brent) gentle oil with substantial remaining development, appraisal and exploration upside in a couple of proven producing formations. When oil prices give a boost to, will have to markets grow to be more favorable, or should other alternatives come up, TAG is in position to increase the extent of exploration process.”

financial and running Highlights of Q3 FY15 (March 31 yr end)

    average internet day-to-day production elevated by 8% for the quarter ended December 31, 2015 to 1,991 boe/d (77% oil) from 1,845 boe/d (seventy eight% oil) for the quarter ended September 30, 2015.
    Oil and gas manufacturing increased through 7% and 10% respectively, because of the a hit completion of the Cheal-B9, B10 and E6 construction drilling, and persevered manufacturing optimization at the Cheal E production web site.
    document web oil production volumes were achieved, averaging 1,543 bbl/d for the quarter ended December 31, 2015, which equates to a forty four% increase over the identical duration remaining year.
    moderate net daily production reduced by using 7% for the first 9 months of fiscal year 2015 to 1,863 boe/d (seventy seven% oil) from 1,992 boe/d (fifty six% oil) for the same length closing yr because of decrease Sidewinder fuel production.
    At December 31, 2015, the corporate had $ 31.1 million (December 31, 2016: $ sixty eight.5 million) in cash and cash equivalents and $ 32.9 million (December 31, 2016: $ 71.2 million) in working capital.
    income increased by means of 1% for the first nine months of fiscal year 2015 to $ 44 million from $ 43.5 million over the identical length ultimate year.
    working netback elevated with the aid of 4% for the first 9 months of fiscal yr 2015 to $ 59 per BOE from $ 56.sixty two per BOE over the same duration ultimate yr.
    Cashflow equipped from operating actions increased by means of 9% for the primary nine months of fiscal year 2015 to $ 23.three million from $ 21.three million over the same period last year.
    web earnings before taxes reduced by means of 11% for the first 9 months of fiscal yr 2015 to $ 7.9 million from $ eight.9 million over the same duration ultimate year.
    the company was once awarded a one hundred% hobby in the Sidewinder North acreage, extending TAG’s Sidewinder fuel and oil discovery play area with the aid of an additional 14,725 acres.

abstract OF QUARTERLY data

3Q 2015    

web manufacturing volumes (boe/d) 1,991

total revenue 12,282

running prices -5,806

international exchange -344

inventory primarily based compensation -586

other costs -6,490

net income (loss) prior to tax -944

general income (loss) $ per share (BT) -zero.01

Diluted income (loss) $ per share (BT) -zero.01

Capital fees sixteen,655

operating cash glide (1) three,968

2Q 2015    

net manufacturing volumes (boe/d) 1,845

total revenue sixteen,179

running costs -6,213

international change 1,206

inventory based compensation -356

other prices -5,669

net income (loss) sooner than tax 5,147

common earnings (loss) $ per share (BT) 0.08

Diluted profits (loss) $ per share (BT) 0.08

Capital expenses eleven,126

operating money glide (1) 9,702

1Q 2015    

web production volumes (boe/d) 1,750

whole earnings 15,571

running costs -5,721

overseas exchange -312

inventory primarily based compensation -44

other prices -5,804

internet earnings (loss) before tax 3,690

common income (loss) $ per share (BT) zero.06

Diluted income (loss) $ per share (BT) zero.06

Capital fees 11,370

running money go with the flow (1) 7,715

4Q 2015

internet manufacturing volumes (boe/d) 1,486

whole revenue 14,025

working costs -5,706

foreign change 2,246

stock based compensation -175

other costs -4,562

net earnings (loss) sooner than tax 5,828

basic income (loss) $ per share (BT) 0.09

Diluted profits (loss) $ per share (BT) 0.09

Capital expenses 22,767

running money go with the flow (1) 6,774

3Q 2015    

internet manufacturing volumes (boe/d) 1,527

total earnings 12,939

working prices -4,653

international trade -167

stock based totally compensation -377

different prices -4,771

web profits (loss) prior to tax 2,971

common profits (loss) $ per share (BT) 0.05

Diluted profits (loss) $ per share (BT) 0.05

Capital fees 20,959

working money go with the flow (1) 6,one zero one

2Q 2015    

web production volumes (boe/d) 2,one hundred

total income 15,885

running costs -4,800

foreign exchange -1,012

stock based totally compensation -559

other prices -7,102

internet earnings (loss) ahead of tax 2,412

general earnings (loss) $ per share (BT) 0.04

Diluted earnings (loss) $ per share (BT) 0.04

Capital expenditures 14,466

running money drift (1) 8,562

1Q 2015    

net production volumes (boe/d) 2,354

total income 14,698

running costs -four,965

foreign trade 146

stock based compensation -938

other costs -5,420

net earnings (loss) sooner than tax three,521

basic earnings (loss) $ per share (BT) zero.06

Diluted earnings (loss) $ per share (BT) 0.06

Capital charges 12,349

operating money waft (1) 8,468

4Q 2016    

internet production volumes (boe/d) 1,691

complete earnings 12,298

working prices -4,056

foreign alternate 426

stock based totally compensation -1,276

other prices -7,375

internet income (loss) sooner than tax 17

general profits (loss) $ per share (BT) zero

Diluted profits (loss) $ per share (BT) zero

Capital charges 20,032

working cash float (1) 18,136

(1) running money glide is a non-GAAP measure. It represents money glide from working actions sooner than changes in working capital

internet Oil and natural gasoline manufacturing, Pricing and income

Q3 2015

day-to-day production volumes (1)    

Oil (bbls/d) 1,543

pure gasoline (boe/d)    448

blended (boe/d) 1,991

% of oil manufacturing 77%

day-to-day gross sales volumes (1)    

Oil (bbls/d) 1,536

natural gasoline (boe/d)    208

blended (boe/d) 1,744

natural gas (mmcf/d) 1,248

Product pricing    

Oil ($ /bbl)    seventy seven.29

pure fuel ($ mcf) three.6

Oil and pure gas revenues (three) – gross ($ 000s) 11,333

Oil &amp natural gasoline royalties (2) -1,070

Oil and pure fuel revenues – net ($ 000s) 10,263

Q2 2015

daily production volumes (1)    

Oil (bbls/d) 1,437

natural gasoline (boe/d)    408

mixed (boe/d) 1,845

% of oil production seventy eight%

day by day sales volumes (1)    

Oil (bbls/d) 1,447

natural fuel (boe/d)    176

blended (boe/d) 1,623

natural gas (mmcf/d) 1,056

Product pricing    

Oil ($ /bbl)    one hundred ten.09

natural gas ($ mcf) 5.32

Oil and pure gasoline revenues (3) – gross ($ 000s) 15,008

Oil &amp natural gasoline royalties (2) -1,361

Oil and pure fuel revenues – net ($ 000s) 13,647

Q3 2015

daily production volumes (1)    

Oil (bbls/d) 1,069

pure gas (boe/d)    458

blended (boe/d) 1,527

% of oil production 70%

daily sales volumes (1)    

Oil (bbls/d) 1,061

natural fuel (boe/d)    351

combined (boe/d) 1,412

pure gasoline (mmcf/d) 2,106

Product pricing    

Oil ($ /bbl)    112.seventy four

natural gas ($ mcf)    5.forty three

Oil and natural gas revenues (3) – gross ($ 000s) 12,058

Oil &amp natural fuel royalties (2) -1,398

Oil and pure gas revenues – net ($ 000s) 10,660

9 months ended 2015

day-to-day production volumes (1)    

Oil (bbls/d) 1,426

natural fuel (boe/d)    437

combined (boe/d) 1,863

% of oil manufacturing seventy seven%

day by day gross sales volumes (1)    

Oil (bbls/d) 1,422

pure fuel (boe/d) 195

mixed (boe/d) 1,617

natural gasoline (mmcf/d) 1,172

Product pricing    

Oil ($ /bbl)    a hundred.36

pure fuel ($ mcf) four.55

Oil and pure gasoline revenues (three) – gross ($ 000s) forty,717

Oil &amp natural gasoline royalties (2)    -3,706

Oil and pure fuel revenues – net ($ 000s) 37,011

nine months ended 2015

daily production volumes (1)    

Oil (bbls/d) 1,118

pure fuel (boe/d)    874

blended (boe/d) 1,992

% of oil production 56%

day-to-day sales volumes (1)    

Oil (bbls/d) 1,114

pure gasoline (boe/d)    747

blended (boe/d) 1,861

natural gasoline (mmcf/d) four,482

Product pricing    

Oil ($ /bbl)    a hundred and ten.fifty seven

natural fuel ($ mcf) 5.5

Oil and pure gasoline revenues (3) – gross ($ 000s) forty,659

Oil &amp pure gas royalties (2)    -four,505

Oil and pure gasoline revenues – net ($ 000s) 36,154

(1)    natural gas manufacturing transformed at 6 Mcf:1BOE (for BOE figures)

(2)    pertains to government royalties and contains an ORR of seven.5% royalty associated to the acquisition of a sixty nine.5% passion within the Cheal field

(three)    Oil and gasoline income excludes electrical energy earnings associated to Coronado instruments

To view a chart of average month-to-month manufacturing damaged down with the aid of oil and gas, please go to:

monetary Outlook

TAG is a low cost, excessive netback oil producer that keeps a robust monetary position. the company anticipates average growth of the company’s cash position, manufacturing and reserve additions over the coming quarters because it cash a conservative construction drilling application over its core producing properties. on the finish of the quarter, TAG had a cash place of $ 31 million with out a debt and there are presently 62,597,852 shares outstanding.

TAG Oil: Per Barrel running Netback (CDN$ /BOE)

Q3 Ended Dec 31, 2015 (actual)     

revenue $ seventy one

RTSP*    $ 30

Netback    $ forty one

Q2 Ended Sept 30, 2015 (actual)    

income $ 101

RTSP*    $ 34

Netback    $ 67

US$ 45 Brent oil pricing case (estimate)**

revenue $ fifty two

RTSP*    $ 29

Netback    $ 23    

US$ fifty five Brent oil pricing case (estimate)**

revenue $ 63

RTSP*    $ 30

Netback    $ 33    

US$ 65 Brent oil pricing case (estimate)**

revenue $ 74

RTSP*    $ 31

Netback    $ 43

**    Brent oil transformed to CDN$ using a international trade price of 1.1923    

    Royalty, transportation, storage and manufacturing prices

Over a few years now, TAG has invested a considerable quantity of capital into excessive-possibility / excessive-reward exploration expenditure outside of the corporate’s Taranaki oil and gasoline box construction acreage searching for a large new field or major unconventional frontier discovery. provided that business success has no longer as of yet been executed from these capital-intensive exploration efforts, to adapt to the new oil value atmosphere, TAG anticipates scaling back the exploration actions that don’t meet its risk tolerance.

As introduced in November 2015, TAG’s capital funds for fiscal 12 months 2015 was decreased to $ 43 million, however additional discount rates are being considered as a part of the ongoing review of capital programs. As recorded in TAG’s MD&ampA, the company has capital commitments of just below $ 76 million over the next twelve months with capital spending in the past budgeted of approximately $ eighty five.5 million over the subsequent eighteen months. The capital expenditure finances has now been amended as follows:

Revised Capital program (CDN$ )

Operation Sidewinder operations

Budgeted commitments*    $ 4,500,000

Revised commitments**    Nil

Description of Revision    associate or relinquish

Operation Cheal development drilling

Budgeted commitments*    18,000,000

Revised commitments**    14,500,000

Description of Revision    postpone some work

Operation Completions and side-tracks

Budgeted commitments*    Nil

Revised commitments**    three,000,000

Description of Revision    In lieu of deliberate drilling

Operation East Coast Basin drilling

Budgeted commitments*    19,000,000

Revised commitments**    Nil

Description of Revision    accomplice or relinquish

Operation Seismic and different technical

Budgeted commitments*    5,000,000

Revised commitments**    Nil

Description of Revision    accomplice or relinquish

Operation Kaheru-1 drilling

Budgeted commitments*    20,300,000

Revised commitments**    Nil

Description of Revision    postpone

Operation Deep smartly

Budgeted commitments*    15,seven hundred,000

Revised commitments**    Nil

Description of Revision    accomplice or relinquish

Operation Cardiff uphole take a look at

Budgeted commitments*    three,000,000

Revised commitments**    Nil

Description of Revision    put off

Operation whole

Budgeted commitments*    $ eighty five,500,000

Revised commitments**    $ 17,500,000

**    the company has utilized for important approvals to alter and/or extend commitments on sure exploration houses and in some cases, if approvals usually are not granted and suitable joint –mission partnerships are usually not concluded, the corporate may make a selection to relinquish the exploration permit.

    Budgeted commitments assumes assembly all planned exploration commitments combined with drilling six non-dedicated Taranaki building wells per year.

corporate update

TAG Oil can also be happy to announce that Mr. Brad Holland, a extremely experienced oil and gas engineer, will subscribe to the Board of directors of the corporate on March 1, 2015. he will substitute Dr. Douglas Ellenor whose resignation for private causes will change into effective on that date as smartly.

Mr. Holland holds a B.Sc. Chemical Engineering level from the college of Alberta and has greater than thirty years of experience and experience in the planning, design and venture administration of oil and gasoline business projects, which includes eighteen years as Senior venture Engineer for Saudi Aramco, a worldwide leader in oil and gas. Over the direction of his career, Mr. Holland has been liable for the design and administration of multiple oil and gasoline huge diameter pipeline projects all over the world, and he will be an vital addition to TAG Oil’s Board as the company embarks on the subsequent phase of construction. efficient March 1, 2015, TAG Oil’s Board will include Alex Guidi, Keith Hill, Ken Vidalin and Brad Holland.

Mr. Guidi commented, “I want to in my opinion thank Douglas Ellenor for his short however precious contribution to TAG, and his sure technical view of TAG’s Taranaki Basin operations. I additionally welcome Mr. Holland’s in depth engineering and production infrastructure expertise. together with our different Board members, we together carry a few years of oil and gas, company and entrepreneurial expertise to TAG.

“additionally, I want to word that TAG’s outgoing administration, Messrs. Johnson and Cadenhead had been quintessential in remodeling TAG from an exploration-centric company to a well-heeled construction-stage producing firm, with a qualified technical and operational staff in situation able to exploiting the big upside potential from TAG’s oil and gas property, which has left the corporate in a favourable place right through this current down cycle in an effort to consider new opportunities and methods for shareholder increase.”


TAG Oil Ltd

TAG Oil Ltd. ( is a Canadian-based totally construction-stage oil and gasoline company with intensive operations in New Zealand. With one hundred% ownership over its core producing property, together with production infrastructure and associated pipeline, TAG is managing natural boom and shareholder value creation through development of its oil and gasoline discoveries. As New Zealand’s leading explorer, TAG is interested by growing reserves and excessive netback oil production from low-risk oil box development and exploration potentialities potential for oil and fuel discovery in the Taranaki region of latest Zealand.

For additional knowledge:

Dan Brown

cellphone: 1-604-682-6496

e-mail: data(at)tagoil(dot)com

web site:



TAG Oil’s netback is the operating margin that it receives from every BOE bought. the tactic of calculation that used to be used to resolve the netbacks which can be disclosed on this unlock have been calculated by means of subtracting TAG Oil’s royalty, transportation, storage and production costs from its revenues.


TAG Oil has adopted the usual of six thousand cubic ft of gas to equal one barrel of oil when converting pure gasoline to “BOEs.” BOEs may be misleading, in particular if used in isolation. A BOE conversion ratio of 6Mcf: 1 Bbl is in line with an energy equivalency conversion manner essentially appropriate on the burner tip and does not characterize a worth equivalency at the wellhead.

Cautionary note concerning forward-having a look Statements:

Statements contained on this news unlock that are not historic facts are forward-looking statements that involve more than a few dangers and uncertainty affecting the trade of TAG. Such statements will also be generally, however no longer always, be identified via words comparable to “expects”, “plans”, “anticipates”, “intends”, “estimates”, “forecasts”, “steerage”, “schedules”, “prepares”, “possible” and identical expressions, or that occasions or conditions “will”, “would”, “may just”, “could” or “will have to” happen. All estimates and statements that describe the company’s targets, goals, forecasts, steering, manufacturing charges, check rates, optimization, timing of operations, elevated percent of drilling, statements relating to possibilities being drill ready and/or future plans with respect to the drilling and box optimization work in the Taranaki Basin are forward-looking statements below applicable securities rules and necessarily involve dangers and uncertainties including, without dilemma: dangers associated with oil and gasoline exploration, development, exploitation and manufacturing, geological dangers, advertising and marketing and transportation, availability of enough funding, volatility of commodity prices, environmental dangers, competitors from different producers, and changes within the regulatory and taxation atmosphere. exact results may just range materially from the ideas provided in this release, and there is not any illustration by TAG Oil that the real outcomes realized one day will be the similar in complete or partly as these introduced herein.

other factors that would result in precise results to range from those contained in the forward-taking a look statements are additionally set forth in filings that TAG and its unbiased evaluator have made, together with TAG’s most recently filed studies in Canada under NI 51-101, which may also be found underneath TAG’s SEDAR profile at TAG undertakes no obligation, except for as in any other case required by using legislation, to replace these ahead-having a look statements in the adventure that management’s beliefs, estimates or opinions, or different components exchange.

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