NewswireToday - /newswire/ -
Vancouver, British Columbia, Canada, 2011/12/14 - TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), is pleased to announce that Ken Vidalin P.Eng., has joined the Company's board of directors. Mr. Vidalin holds a B.Sc. Mechanical Engineering degree from the University of Dakota - TagOil.com. TSE: TAO
Mr. Vidalin is the founder, former director and former Chief Operating Officer of Canadian-based Methanex Corporation (TSX: MX), the world's leading methanol producer, with major infrastructure in New Zealand, and the country's largest commercial user of natural gas.
Mr. Vidalin is also the founder, former president and former Chief Operating Officer of Acetex Corporation, a global chemical industry leader. Celanese Corporation acquired Acetex in July 2005, in a transaction valued at approximately US $500 million.
Mr. Vidalin brings additional strong technical and business qualifications to TAG's board, which now consists of Garth Johnson, Alex Guidi, Keith Hill, Ron Bertuzzi and Ken Vidalin.
About TAG Oil Ltd
TAG Oil Ltd (tagoil.com)is a Canadian-based production and exploration company with operations focused exclusively in New Zealand. With 100% control over all its core assets, including oil and gas production infrastructure, TAG is anticipating substantial oil and gas production and reserve growth through development of several light oil and gas discoveries. TAG is also actively drilling high-impact exploration prospects identified across more than 1,300 sections of land in the onshore Taranaki and East Coast Basins of New Zealand's North Island.
"BOE"s may be misleading, particularly if used in isolation. A BOE conversion ratio of 6Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.
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 generally, but not always, identified by words such as "expects","plans","anticipates","intends","estimates","forecasts","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, or future plans relating to operations in the Taranaki and East Coast Basins are forward-looking statements under applicable securities laws and necessarily involve risks and uncertainties. Actual results may vary materially from the information provided in this release, and there is no representation by TAG that the actual results realized in the future will 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 National Instrument 51-101, which can be found under TAG's SEDAR profile at 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.