VANCOUVER, Aug. 11 /CNW/ - TAG Oil Ltd. (TSXV: TAO) and Trans-Orient
Petroleum Ltd. (TSX-V: TOZ and OTCBB: TOPLF) announced today that the two
companies will move their technical and operational base to New Plymouth in
the Taranaki region, New Zealand's oil and gas center. The companies will
together strengthen the base's technical and operational capability by
building a regional team to facilitate their recently expanded operations.
"Both companies are moving towards a wave of activity, and we want to
ensure that our technical and operational abilities are solidly established,"
explained Garth Johnson, CEO for both TAG and Trans-Orient. "In this regard, I
am pleased to announce that Mr. Carlos Kazianis will be promoted to New
Zealand Operations Manager for both companies."
Mr. Kazianis has an excellent track record of operational success and has
extensive international field experience in well-site supervision, management
of drilling operations and critical technical support. He also provides
collation and completion of geological prognoses for drilling, well planning
and many other management responsibilities. Mr. Kazianis has worked in Europe,
Africa, the Middle East, Southeast Asia, Papua New Guinea and New Zealand. He
was previously a base manager for Geoservices in Thailand, senior advisor to
the Petroleum and Minerals Investment Unit of New Zealand's Crown Minerals,
and is a former lieutenant in the New Zealand Army.
The companies also announced today that in order to facilitate
restructuring of their expanded operations in New Zealand, Drew Cadenhead will
resign as COO of Trans-Orient and relocate from its head office in Vancouver,
B.C. to New Zealand to provide ongoing technical support to TAG and
Trans-Orient. Mr. Cadenhead holds a bachelor's degree in geology from the
University of Calgary and has extensive technical experience in Western Canada
and New Zealand.
"Our goal is cost-effectively to provide both companies with broad
operational and technical skill as we accelerate our exploration strategy and
more importantly, full development of the Cheal oil discovery, which is
paramount to our near-term production growth strategy," Johnson further
commented. "Both TAG and Trans-Orient have over a decade of New Zealand
exploration history, and collectively share an extensive technical database
that enables us to identify additional opportunities within our significant
TAG Oil Ltd. (http://www.tagoil.com/) is a Vancouver, BC-based company
that controls 100% of the Cheal oil discovery in the onshore Taranaki Basin of
New Zealand. The Company is poised to grow through existing profitability,
full development of the Cheal Mining License and exploration of its extensive
onshore Taranaki prospect portfolio. TAG remains in a strong financial
position, with sufficient working capital to fund operations for the
Trans-Orient Petroleum Ltd. (http://www.transorient.com/) is a Vancouver,
BC-based exploration company that is focused on exploring a large frontier
area of the East Coast Basin of New Zealand. Trans-Orient's acreage
encompasses the main play area where the Company is targeting high-impact
conventional prospects and an unconventional opportunity targeting world-class
fractured oil shale source-rock formations that has been independently
assessed to have major reserve potential.
This release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of applicable legislation.
Other than statements of historical fact, all statements in this release
addressing future operations, undiscovered hydrocarbon resource potential,
exploration, potential reservoirs, prospects, leads and other contingencies
are forward-looking statements. Although management believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance, and
actual results may differ materially from those in the forward-looking
statements due to factors such as market prices, farm-outs, relinquishments,
exploration successes, continued availability of capital and financing, and
general economic, market, political or business conditions. Please see our
public filings at www.sedar.com for further information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Dan Brown, (604) 682-6496, firstname.lastname@example.org