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TAG Oil Announces Share Buyback in Light of Retreating Oil Prices
Dec. 08, 2014 08:15AM PST
Resource Investing News TAG Oil (TSX:TAO, OTCQX:TAOIF) announced that it intends to purchase 5,885,051 of the company’s common shares as the share price is currently being hampered by low oil prices. Over the past 12 months TAG has purchased and cancelled 1,977,200 of its common shares at an average weighted purchase price of CDN $2.10 per common share.
TAG Oil (TSX:TAO, OTCQX:TAOIF) announced that it intends to purchase 5,885,051 of the company’s common shares as the share price is currently being hampered by low oil prices. Over the past 12 months TAG has purchased and cancelled 1,977,200 of its common shares at an average weighted purchase price of CDN $2.10 per common share.
According to the press release:
TAG Oil believes that its share price does not reflect the underlying value of the Company, and that purchasing shares for cancellation will be advantageous to the Company and its shareholders.
Click here to read the TAG Oil Limited (TSX:TAO,,OTCQX:TAOIF) press release