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TAG Oil Haemorrhaging
Wednesday, 16 January 2013, 9:58 am
Press Release: Manu Caddie
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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.
"That
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
region.
"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
whatsoever."
ENDS
© Scoop Media

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