TAG Oil Up 1% As Reports 100% Increase in Production Revenue, Strong Year-End Financial Results

TAG Oil (TAO.TO) said on Tuesday that it has filed its audited financial results, Management Discussion and Analysis and Annual Information Form with the Canadian Securities Administrators for the period ended March 31, 2011.

The exploration company edged higher by 1% to $6.92 after reporting that production revenue for 2011 increased to $13.1 million compared to $6.5 million in 2010. Production of light oil was 150,742 net barrels, sold at an average price of $86 per barrel with production costs reduced to less than $20 per barrel.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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