TAG's Cheal-E6 well intersects oil and gas bearing sands
TAG's Cheal-E6 well intersects oil and gas bearing sands
VANCOUVER, Canada -- TAG Oil has successfully drilled the Cheal-E-JV-6 (Cheal-E6) well, located in the onshore Taranaki basin of New Zealand, to a total depth of 1,939 m.
The Cheal-E6 step out well is interpreted to have intersected over 9 m of net oil and gas bearing sands in the Mt. Messenger formation, which was the main objective of the well.
Cheal-E6 is being completed as a potential oil well, with production testing to begin this week and, if economic, it will be immediately commercialized through TAG's 100% owned production infrastructure.
TAG owns a 70% working interest in the Cheal-E-JV-6 well development.
Based on the excellent performance and continued encouraging results of the Cheal-E site area, TAG will now proceed to drill the Cheal-E7 step out well (TAG 100%).
