VANCOUVER, May 12, 2015 /PRNewswire/ - Mr. Alex Guidi, Founder and Chairman of TAG Oil
Ltd., listed on the Toronto Stock Exchange (trading symbol TAO),
and in the US on the OTCQX (trading symbol TAOIF), is pleased
to announce the appointment of oil and gas executive Frank Jacobs to the post of Chief Operating
Officer.
Mr. Jacobs holds a B.Sc. Chemical Engineering degree from the
Higher Technical College in Breda,
Netherlands, as well as a M.Sc. degree in Petroleum
Engineering from the University of
Calgary. Mr. Jacobs has more than 35 years of experience in
the oil and gas industry that includes operations management from
concept to full-scale field development, numerous production and
corporate acquisitions, and development of existing oil and gas
production.
Mr. Jacobs has enjoyed a successful career as an international
oil and gas executive and has worked extensively in Australia, SE
Asia, North and South
America, and New Zealand.
Most recently, Mr. Jacobs was based in Kuala Lumpur leading the field development,
project funding and technical team for the US$135 million Ophir oil field development project offshore
Malaysia.
Mr. Jacobs has extensive experience in the management of
production assets, as well as a long list of successful production
and corporate acquisitions to his credit over the span of his
career. He has been a senior executive of public companies in
Australia and Canada, including former Managing Director of
Cue Energy, where he led the acquisition of several oil and gas
properties in Papua New Guinea and
Indonesia. He also led the
acquisition of numerous Australian companies including Basin Oil,
Barcoo Petroleum and Esso Timor Sea Limited.
"I have known Frank for more than 15 years, and am very happy
that we finally have the opportunity to work together," said
Alex Guidi, Chairman of TAG Oil Ltd.
"Frank will work closely with our sub surface team in
New Zealand and I have the upmost
confidence that he will ensure our oil and gas field development is
properly executed, and the value of our assets are maximized. Frank
is also one of the most successful production acquisition
specialists I have ever known, and his wealth of operational and
engineering experience will be a great benefit to TAG. Having Frank
aboard gives me a high level of confidence in TAG's ability to
unlock the significant value identified across the Company's
development-stage projects and production assets as well as
identifying new opportunities."
TAG Oil Ltd.
TAG Oil Ltd. (http://www.tagoil.com/) is a Canadian based,
development stage, oil and gas company with extensive
operations—including production infrastructure—in the Taranaki
region of New Zealand. As one of
New Zealand's leading operators,
TAG is poised for long-term, reserve-based growth, and is
positioned with attractive exploration activities in the lightly
explored Taranaki Basin discovery fairway. As a low cost, high
netback oil and gas producer, TAG is debt-free and reinvests its
cash flow into development and step-out drilling along trend with
the Company's existing production.
Cautionary Note Regarding Forward-Looking Statements:
Statements contained in this news release that are not
historical facts are forward-looking statements that involve
various risks and uncertainty affecting the business of TAG. Such
statements can be generally, but not always, be identified by words
such as "expects", "plans", "anticipates", "intends", "estimates",
"forecasts", "guidance", "schedules", "prepares", "potential" and
similar expressions, or that events or conditions "will", "would",
"may", "could" or "should" occur. All estimates and statements that
describe the Company's objectives, goals, forecasts, guidance,
production rates, test rates, optimization, timing of operations,
increased pace of drilling, statements regarding prospects being
drill ready and/or future plans with respect to the drilling and
field optimization work in the Taranaki Basin are forward-looking
statements under applicable securities laws and necessarily involve
risks and uncertainties including, without limitation: risks
associated with oil and gas exploration, development, exploitation
and production, geological risks, marketing and transportation,
availability of adequate funding, volatility of commodity prices,
environmental risks, competition from other producers, and changes
in the regulatory and taxation environment. Actual results may vary
materially from the information provided in this release, and there
is no representation by TAG Oil that the actual results realized in
the future would be the same in whole or in part as those presented
herein.
Other factors that could cause actual results to differ from
those contained in the forward-looking statements are also set
forth in filings that TAG and its independent evaluator have made,
including TAG's most recently filed reports in Canada under NI 51-101, which can be found
under TAG's SEDAR profile at www.sedar.com. TAG undertakes no
obligation, except as otherwise required by law, to update these
forward-looking statements in the event that management's beliefs,
estimates or opinions, or other factors change.
SOURCE TAG Oil Ltd.