Independent Canadian oil and gas production and exploration company TAG Oil Ltd. announced today that the Company has signed a letter of intent with New Zealand based Genesis Energy to sell its 15.1% interest in PEP 38738-D and PMP 38156-D containing the Cardiff deep gas prospect for a combination of cash and a 1% royalty on any future production from both permits. The LOI is conditional to a formal agreement being signed as well as consents required under the joint venture operating agreement and the Ministry of Economic Development in New Zealand.
Green Marine
about 19 years ago
TAG Oil Announces Cardiff Transaction and Provides Update
Independent Canadian oil and gas production and exploration company TAG Oil Ltd. announced today that the Company has signed a letter of intent with New Zealand based Genesis Energy to sell its 15.1% interest in PEP 38738-D and PMP 38156-D containing the Cardiff deep gas prospect for a combination o
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