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TAG Oil Jumps 8% After Signing E&P Farm-Out Pact with Apache for Offshore New Zealand

TAG Oil Ltd. (TAO.TO) is up more than 8%, gaining 57 cents to trade at $7.68 a share after announcing a farmout agreement with Apache Corp to explore and potentially develop oil and natural gas resources in the East Coast Basin of New Zealand.

Apache will conduct a multi-phased exploration, appraisal and potential development program within TAG's East Coast Basin exploration permits, comprising more than 1 million acres on the southeast portion of the North Island. TAG currently holds a 100% working interest in the properties.

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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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