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TAG Preps for Expanded NZ Drilling Program; Will Add Rig
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TAG Oil Ltd. has reported its financial results with the Canadian Securities Administrators for the Company's September 30, 2013 second quarter fiscal 2014 year.
TAG Oil Quarterly Highlights At September 30, 2013 , the Company had cash of $61.2 million , working capital of $62.9 million and no debt prior to closing a $25 million bought deal financing. Production revenue increased to $30.58 million for six months and $15.89 million for the quarter. Net income of $7.43 million was generated for six months and $2.97 million for the quarter, before the deduction of non-cash share-based compensation. Daily average production for six months increased to 2,227 boe per day (51% oil) and 2,100 boe per day (58% oil) while realizing $113.30 per barrel of oil and $5.18 per mcf of gas for the…Finish this article — free account or subscription
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