DRILLING

TAG readies drillbit

CANADA-listed junior TAG Oil is about to kick off its 2010 New Zealand exploration program with the drilling of up to three shallow stratigraphic core wells to further investigate the historic East Coast Basin Waitangi Hill oil seeps.

"We are just waiting on the weather and expect to spud the first well during the weekend. We plan to drill and core continuously down to a depth of about 250 metres," company chief operating officer Drew...

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