16 January 2012
TAG Oil Haemorrhaging
Canadian oil company TAG Oil has lost 30% of its
value in the two days since the announcement it had lost
East Coast exploration partner Apache Corporation.
seems to be around $70 million dollars a day" said Manu
Caddie, a Gisborne District Councillor who has raised
concerns about the risks of drilling in the East Coast
"So they are in free-fall and still putting on a
brave face that they can carry on in the East Coast Basin
without the $100 million Apache contributed, without the
exploration experience and expertise Apache offered and if
this haemorrhaging continues for another couple of days, it
will be without any company value
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