Canadian-listed energy company TAG has released its full year independent reserve results.
Canadian-listed energy company TAG (TSX:TAO,OTCQX:TAOIF) has released its full year independent reserve results
As quoted from the press release:
TAG Oil Ltd. confirms that ERC Equipoise Ltd. (“ERCE”), a qualified reserves evaluator in accordance with National Instrument 51-101 (“NI 51-101”) and the Canadian Oil and Gas Evaluation Handbook, has completed its independent reserves assessment on the company’s producing oil and gas assets within the Cheal (PMP 38156), Cheal East (PMP 60291) and Sidewinder (PMP 53803) permits in New Zealand. This report is dated and is effective as at March 31, 2019.
ERCE has assigned a pre-tax net present value of C$98.7 million (FY2018: C$97 million), using a 10 percent discount rate to the company’s net working interest proven plus probable reserves.