background presentation to nz drill

Extract from my notes of last year.......


An oil seep was uncovered during geotechnical works on the flank of the anticline in 2003, and soil gas surveys have confirmed the presence of thermogenic hydrocarbons in the vicinity of the mapped structure.

What happened in practice was a Canadian Co' - TAG originally farmed into the drill with the 100% holder NZ energy Co' Greengate and subsequently lost the rights when Greengate failed to proceed with its obligations - which strangely enough meant TAG lost its earn in + the $400k odd it spent on seismic - enter GGX.

TAG's geologist said, "there is nothing better than seeing a big surface anticline with oil seeps" and mapped it @ 200 mmbiop, The TAG oil boss is reportedly on record as describing it as the most exciting prospect he had seen in his career. ( understandably they were somewhat upset at being shown the door ........)

TAG can be heard discussing the drill (and other boring stuff) at this presentation to an oil conference in Dubai in Nov of last year (06)

http://events.onlinebroadcasting.com/minellc/103106/frameset.php?file=tag&co=tag&player=win