Tag Oil to Begin Drilling at Second Taranaki Basin Well

Tag Oil will commence drilling operations this month at the Sidewinder-2 well, which is located in Taranaki Basin, New Zealand.

Sidewinder-2 is the first of several appraisal and exploration wells to be drilled in the 32km² (12 section), 100% Tag-controlled Petroleum Exploration Permit 38748 (PEP 38748).

The Sidewinder-2 and 3 wells will be drilled to a depth of 2,400m, targeting the similar Mount Messenger Formation play level as Sidewinder-1, with a slightly down-dip location to intersect an interpreted oil leg associated with this proven accumulation.

The company also plans to conduct a multi-well, high-impact exploration campaign in PEP 38748 to target prospects that were identified by 3D seismic surveys.