TAG Oil announces four east coast North Island wells

Fri, 01 Feb 2013

By Pattrick Smellie Feb. 1 (BusinessDesk) - TAG Oil has firmed up plans to start exploratory drilling for oil and gas in shale deposits on the east coast of the North Island, which it says could hold the equivalent of 14 billion barrels of oil. All four wells will be drilled using "conventional vertical drilling techniques", the company said in a statement. A spokesman confirmed there was no hydraulic fracturing, or "fracking", planned for any of the four wells. Drilling is scheduled for March or April this year. However, it was possible t...

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