Brief: TAG Oil says average net daily production rose 3 pct for qtr ended March 31, 2017
29/06/2017 14:00
June 29 (Reuters) - TAG Oil Ltd TAO.TO :
* TAG Oil reports FY2017 results
* Says average net daily production increased by 3% for
quarter ended march 31, 2017, to 1,218 boe/d
* Says revenue from oil and gas sales increased by 4% for
quarter ended march 31, 2017, to $6.3 million
* TAG Oil Ltd says capital budget for fy2018 is $27.4
million, which is projected to be funded entirely by forecasted
cash flow and working capital on hand
* Says estimating fy2018 revenue from operations will be $28
million, with production averaging approximately 1,400 boe/d
* Says expects to exit fy2018 with production of
approximately 1,900 boe/d
* Says should oil prices remain significantly below us$55
per bbl for any length of time, tag oil may reduce its capital
program
Source text for Eikon: ID:nCNWx2MXYa
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