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TAG Oil Ltd CEO reports 'encouraging' results at Pulatea-1 oil well in New Zealand

TAG Oil Ltd (TSE:TAO) CEO Toby Pierce tells Proactive Investors the company has unveiled details of a "quite exciting" flow test at the Pukatea-1 well in New Zealand.

Pierce says the well flowed at a stabilized rate of approximately 276 barrels of oil equivalent per day, 74% of it being oil, and the rest gas.
Pierce says the company will have another month of testing, followed by several months of a production scenario.

 

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