TAG Oil Ltd., Vancouver, (TSX: TAO; OTCQX: TAOIF) has reported continued positive drilling results at the Cheal field, with the completion of the first two wells of a ten-well drilling campaign.
Electric log analysis of these wells indicates high-quality oil pay in the targeted Mt. Messenger and Urenui Formations. A pumping unit is currently being mobilized ...
The Cheal-C1 and C2 wells are important step-out wells as they are located approximately 3.5 km's to the northwest of TAG's recently announced Cheal-B5 well and they significantly extend the known oil-and-gas saturation area within the Cheal permit.
The well is naturally flowing at an average rate of 1,870 barrels of oil equivalent per day, consisting of 1,700 barrels of oil and 1.0 million cubic feet of gas per day flowing through a 40/64" choke over a five-day test period.