TAG Oil picks up failed Kea's Puka prospect for $250,000

Mon, 06 Jun 2016

By Pattrick Smellie June 7 (BusinessDesk) - Canadian-listed Taranaki oil and gas producer TAG Oil has picked up a 70 percent interest in the Puka onshore oil and gas exploration permit for $250,000 following the liquidation of the previous owner, Kea Petroleum. The 85 square kilometre area covered by Petroleum Exploration Licence 51153, known as Puka, is located east of TAG's Cheal field, where it is producing oil and gas. Three exploration wells have been drilled in the prospect since the Puka field was discovered in 2012. The Puka-1...

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