A Pure Play: New Zealand E&P AGM: December 12, 2013 TSX: TAO OTCQX: TAOIF
Executive Summary: Corporate Overview Capital Structure: 64.57 million shares o/s; 68.25 million fully diluted Working Capital: 65 million in cash, no debt, high net-back oil 2.8 Million Acres of Land (net): Onshore Taranaki, East Coast…
Introduction: North and South Islands of New Zealand Three Basins 2.8 Million Acres of Conventional and Unconventional Opportunities Taranaki Basin: Conventional Production Target low-risk drilling opportunities Owning 100% of…
What Has TAG Accomplished Since December 2012 AGM December 2012 June 2013 (cont.) Drilled Cheal-B8 discovery 1p, 2p and 3p reserves of 2.2mm, 6.2mm and Acquire 80 kms of seismic in Canterbury 8.3mm (BOE with +85% oil) 4 new permits in…
The next 12 Months 12 to 15 Wells & Seismic Taranaki Drilling Ops. East Coast Drilling Ops. TD and test Cardiff-3 Waitangi Hill: 1 unconventional well TD Cheal-E5 East Coast Testing Program: Cheal Mining Permit: 4 wells Ngapaeruru-1…
Goals, Values & Responsibility Be the 1 New Zealand Oil and Gas Producer by 2023 Accountability Schedule Actions Goals Targets Core Purpose: Core Values: People Matter Most Unlock New Zealands Potential TAG Lives Safely Our…
Taranaki Basin: Production Discussion 2013 Tag Oil Ltd., www.tagoil.com 8
Cheal & Sidewinder Production July 2010 to Nov 2013 Production Contribution Cheal Oil and Sidewinder Gas Sidewinder shallow gas provides early stage learning curve Cheal oil provides consistent growth Big IP Cheal oil wells better…
Oil & Gas Production July 2010 Nov 2013 Monthly Production Clarity Consistent growing oil production High net-back oil to build revenue and cash flow Oil provides longer-life reserves 2013 Tag Oil Ltd., www.tagoil.com 10
TAGs Taranaki Production Growth Oct 2010 to Sept 2013 Consistent Production Growth Compound Annual Growth Rate: September 30, 2011 to September 30 2013 2013 Tag Oil Ltd., www.tagoil.com 11
Cheal & Sidewinder Revenue July 2010 to Oct 2013 BOE vs. BBL The Facts Oil increasing revenue consistently BOE/D not the only measuring tool for success 2013 Tag Oil Ltd., www.tagoil.com 12
Taranaki Basin: Increasing Reserves TAG Oil 2P Reserves and Growth Potential (MMBOE) Net working interests in 48,538 onshore acres in Taranaki FY13 2P 6.2 million BOE (85% oil); 3p = 8.3 million BOE Critical data compiled on…
2012 Blocks Offer Success: Adding 37,501 Acres 10 Initial Wells Target 197 Bcf + 18.45 Mmbbls Net 4 Blocks awarded (all operated by TAG): 3,914 acres - PEP 54873 100% TAG (1 well Heatseeker - pg 22) - PEP 54876 50% TAG (3 wells…
2012 Blocks Offer: Commercial in 2013 August 2013 First Well Continual Drilling Testing and Facility Build First Oil Sold November 2013 2013 Tag Oil Ltd., www.tagoil.com 17
2013 Blocks Offer Success: Adding 109,073 Acres Taranaki Basin: PEP 55769 East Coast Basin: PEP 55770 100% interest 60% interest and operator 2,916 acres 106,157 acres 4 drill ready prospects to date US10 million carried by JV…
Taranaki Basin: Shallow and Deep Opportunity Cheal: 7,487 Acres Grow Revenue and Reserves High net-back oil from Cheal Multi-year continuous drilling program 4 Cheal wells planned for CY14 Infrastructure expansion done in March…
Taranaki Basin: The Next Cheal Sidewinder: 4,989 Acres 100% TAG-owned and includes 714 acre mining permit Drilled Sidewinder-A1 to A7 gas wells to date Oil discoveries expected based on by- passed shows at Sidewinder and analog…
Taranaki Basin: Onshore Deep Potential Cheals Cardiff Deep Prospect - Spudded Sept 2013 A Major Kapuni Gas Target 100% working interest Drilling underway; initial test December 2013, frack January 2014 Sproule Resource Assessment…
Taranaki Basin: Onshore Deep Potential Heatseeker Prospect (100% TAG) 26,327 Acres Heatseeker located immediately west of landmark Kapuni Field Discovery 3D Seismic interpretation shows large climbing structural high at 3500 meters…
Taranaki Basin: Onshore Deep Potential Sidewinders Hellfire Deep Prospect A Major Kapuni Gas Target Sidewinder Production Station within permit provides pipeline to market Internal Resource Assessment (July 2013): 119.5 Bcf + 4.78…
Taranaki Basin: Offshore Kaheru Permit Shallow Offshore Exploration 40% working interest in 77,039 acres JV operated by NZOG (partners in Tui & Kupe, New Zealands newest offshore commercialized pools) Beach Petroleum farmed-in to…
East Coast Basin: Ngapaeruru-1 Drilling 2013 Tag Oil Ltd., www.tagoil.com 25
East Coast: Overview Billions of Barrels of Potential Underexplored Opportunity Nearly 1.6 million acres of conventional and unconventional targets in most prospective areas of the basin (depth and thickness) Significant number of…
East Coast: Overview Ngapaeruru-1 Well: The First of Many Unconventional Data Set Builds Drilled first exploration well Ngapaeruru-1 in April 2013 3 weeks to TD, no operational, environmental or HSE issue = smooth sailing Vast…
East Coast Basin: Summary Proof of Concept Success The Next Steps: Test Ngapaeruru-1 for moveable hydrocarbons Drill Waitangi-Valley-1 on PEP 38348 Relocate unconventional team to East Coast permanently Drill at least 6 more…
East Coast Basin: Summary World-Class Upside Potential Billions of barrels of OOIP Widespread and thick oil and gas seeps identified over millions of acres Big 3 confidence builders: 1. Naturally fractured basin 2. Significant…
South Island: Canterbury Basin Overview Emerging Frontier Basin 1.2 million acres of conventional and unconventional targets in proven hydrocarbon system Permit onshore and offshore Offshore water…
Anticipated Work Program and Capex Potential Capex* Capex* Area of Focus To March 2014 To March 2015 Details Taranaki Shallow 9 million 36 million 15 wells, seismic & ongoing optimization Taranaki Deep 24 million 15 million Cardiff…
Near-Terms Catalysts and Targeted Resource Potential Operational Catalysts* Gas Oil/Cond Anticipated Prospect name (Bcf) (Mmbls) Operation Timing P50 P50 Cardiff 159.8 5.49 TD/Perf December 2013 Stimulate & test JanFeb 2014 Cheal…
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