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TAG Oil Talks 2016 Plans; Focusing on EOR Ops, Possible JV Deals
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TAG Oil Ltd. has reported the first quarter results for the fiscal year ending March 31, 2016. The company also detailed its preliminary plans for 2016.
The Company achieved revenue of $10.4 million during the quarter, a 7% increase compared to $9.7 million for the previous quarter ended March 31, 2015.
Operations Update and Outlook for Fiscal Year 2016TAG will focus on the following goals during the 2016 fiscal year:
Grow baseline reserves, production, and cash flow in the Taranaki Basin via low-risk workovers and re-completion of bypassed zones in existing wells, deploying enhanced oil recovery techniques across producing acreage, as well as performing ongoing shallow development drilling; Evaluate acquisitions in New Zealand and the rest of Australasia to increase the Company's…- ✓ Full news archive — U.S., Canada & international coverage
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