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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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TAG Oil Ltd. (TAOIF: OTCQX International) | TAG to Transfer Stake in New Zealand Power Generator to Coronado Resources

Category : Stocks

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TAG to Transfer Stake in New Zealand Power Generator to Coronado Resources

PR Newswire

VANCOUVER, May 15, 2013

VANCOUVER, May 15, 2013 /PRNewswire/ – TAG Oil Ltd. (TSX: TAO; OTCQX: TAOIF), reports that it has agreed to sell its 90%
stake in Opunake Hydro Limited (“OHL“), an established electricity generator and supplier in New Zealand, to
Coronado Resources Ltd. (TSX-V: CRD; OTCQX: CRDAF) in exchange for
common shares of Coronado valued at approximately CDN$5,000,000. The
common shares of Coronado being issued to TAG Oil and the vendor of the
remaing 10% interest represents full consideration paid by Coronado to
acquire 100% of the issued and outstanding shares of OHL.

OHL is an active power generation company based in New Zealand, and is
poised to rapidly expand its generation capabilities. Upon completion
of this transaction, OHL will have working capital of approximately
CDN$8 million allowing the company to acquire additional gas fired
electricity generation equipment, while securing natural gas supply
through TAG. This will enable both TAG and OHL to benefit from
increased generation of electricity for sale into thriving retail,
industrial and commercial markets.

The transaction is being completed pursuant to the terms of a definitive
share purchase agreement dated May 13, 2013 between TAG Oil, Coronado
and the vendor of the remaining 10% interest in OHL. Under the terms of
the share purchase agreement, TAG will receive 13,015,410 common shares
of Coronado valued at CDN$0.39 per share. The Coronado share price is
based on the volume weighted average closing price of Coronado’s common
shares on the TSX Venture Exchange (“TSX-V“) for the 20 consecutive trading days ending on May 10, 2013.

TAG currently holds 25,975,000 common shares, or 40.08%, of Coronado and
upon completion of the transaction, TAG will hold 38,990,410 common
shares, or 49.18%. The common shares will be held for investment
purposes and TAG may, depending on market and other conditions,
increase or decrease its beneficial ownership of common shares or other
securities of Coronado whether in the open market, by privately
negotiated agreement or otherwise.

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BP asks PM to help curb US leak cost

Category : World News

BP appeals to Prime Minister David Cameron to intervene over the escalating compensation costs of the Gulf of Mexico oil disaster.

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TAG Oil Ltd. (TAOIF: OTCQX International) | TAG Oil’s Ngapaeruru-1 Well Intersects Oil and Gas Shows in Source Rock

Category : Stocks

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TAG Oil’s Ngapaeruru-1 Well Intersects Oil and Gas Shows in Source Rock

PR Newswire

VANCOUVER, May 14, 2013

VANCOUVER, May 14, 2013 /PRNewswire/ – TAG Oil Ltd. (TSX: TAO) and (OTCQX:
TAOIF), reports that TAG’s 100%-controlled Ngapaeruru-1 exploration
well has reached a total depth of 1417 meters after successfully
drilling through the Waipawa and Whangai source rock formations, the
main objective of the well.

Excellent mud gas shows – which indicate the presence of gas zones or
soluble gas in oil – were recorded between the intervals of 1140 -
1295m (155m gross hydrocarbon column). Preliminary gas ratio analysis
interprets a predominantly wet gas / oil signature. All data has now
been forwarded to independent laboratories for expert analysis.

In addition, TAG Oil cut and recovered sidewall cores over 14 separate
intervals within the 155 meters of potential unconventional oil and gas
pay, sampled total organic content (TOC) and acquired in-situ gas analysis at depth. Detailed petrophysical evaluation is now
underway with a full suite of unconventional logs to ascertain source
rock quality, fracture identification, geochemistry, and rock moduli
data. This data is critical to determining the most suitable completion
method and production testing of the Ngapaeruru-1 well, as well as to
better understanding the long term feasibility of TAG’s East Coast
Basin opportunity.

“Our team did an excellent job drilling this first ever unconventional
target in the East Coast Basin,” commented Drew Cadenhead, TAG’s Chief
Operating Officer. “Diligence and communication made certain that the
occasionally tricky drilling conditions in this Basin were handled as
planned: safely, efficiently, and with no environmental incidents. The
fact that early mud-log analysis has returned wet gas and oil
indications is both encouraging and very exciting. We’re looking
forward to more detailed results once analysis of the data acquired
from the Ngapaeruru-1 well is complete.”

Ngapaeruru-1 is located in TAG’s 100%-controlled Petroleum Exploration
Permit 38349 in the East Coast Basin of New Zealand. The Ngapaeruru-1
well represents New Zealand’s first test directly targeting the
naturally fractured Waipawa and Whangai formation source rocks which is
believed to contain a significant oil and gas resource.

For further information on the Ngapaeruru-1 exploration well and TAG
Oil’s unconventional prospects please visit:
http://www.tagoil.com/20130422-TAG-Oil-First-Oil-And-Gas-Exploration-Well-East-Coast-Basin.asp

TAG Oil Ltd.

TAG Oil Ltd. (http://www.tagoil.com/) is a Canadian-based production and exploration company with operations
focused exclusively in New Zealand. With 100% ownership over all its
core assets, including extensive oil and gas production infrastructure,
TAG is enjoying substantial oil and gas production and reserve growth
through development of several light oil and gas discoveries. TAG is
also actively drilling high-impact exploration prospects identified
across more than 2,984,171 net acres of land in New Zealand.

In the East Coast Basin, TAG is exploring the major unconventional
resource potential believed to exist in the source-rock formations that
are widespread over the Company’s acreage. These oil-rich and naturally
fractured formations have many similarities to North America’s Bakken
source-rock formation in the successful Williston Basin.

Cautionary Note Regarding Forward-Looking Statements:

Statements contained in this news release that are not historical facts
are forward-looking statements that involve various risks and
uncertainty affecting the business of TAG. Such statements can be
generally, but not always, identified by words such as “expects”,
“plans”, “anticipates”, “intends”, “estimates”, “forecasts”,
“schedules”, “prepares”, “potential” and similar expressions, or that
events or conditions “will”, “would”, “may”, “could” or “should” occur.
All estimates and statements that describe the Company’s objectives,
mudlog gas readings, oil indicators, drilling, goals and or future
plans with respect to the drilling in the East Coast Basin
forward-looking statements under applicable securities laws and
necessarily involve risks and uncertainties including, without
limitation: risks associated with oil and gas exploration, development,
exploitation and production, geological risks, marketing and
transportation, the risk associated with estimating undiscovered
original initially-in-place, availability of adequate funding,
volatility of commodity prices, environmental risks, competition from
others, and changes in the regulatory and taxation environment. Actual
results may vary materially from the information provided in this
release, and there is no representation by TAG Oil that the actual
results realized in the future will be the same in whole or in part as
those presented herein.

Other factors that could cause actual results to differ from those
contained in the forward-looking statements are also set forth in
filings that TAG and its independent evaluator have made, including
TAG’s most recently filed reports in Canada under National Instrument
51-101, which can be found under TAG’s SEDAR profile at www.sedar.com.

TAG undertakes no obligation, except as otherwise required by law, to
update these forward-looking statements in the event that management’s
beliefs, estimates or opinions, or other factors change.

SOURCE TAG Oil Ltd.

See the article here: TAG Oil Ltd. (TAOIF: OTCQX International) | TAG Oil’s Ngapaeruru-1 Well Intersects Oil and Gas Shows in Source Rock

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BP withdraws some staff from Libya

Category : Business, World News

Oil giant BP withdraws some non-essential staff from operations in Libya following UK government advice about uncertainty in the country.

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Sears Oil and Gas Corp. (SRSGD: OTC Link) | Symbol Change

Category : World News

Fri, May 10, 2013 12:00 – Sears Oil and Gas Corp. (SRSGD: OTC Link) – Symbol Change – The symbol, SRSGD, is no longer a valid symbol for Sears Oil and Gas Corp.. As of Fri, May 10, 2013, the new trading symbol is SRSG. You may find a complete list of symbol changes at otcmarkets.com.

See the article here: Sears Oil and Gas Corp. (SRSGD: OTC Link) | Symbol Change

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UK industrial output beats forecasts

Category : World News

UK industrial production rose in March, boosted by manufacturing and a recovery in oil and gas output, according to the Office for National Statistics.

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Oil and gas sector exports grow

Category : Business, World News

Exports related to the oil and gas industry grow for the 14th year in a row and are now worth £17.2bn, a survey suggests.

Originally posted here: Oil and gas sector exports grow

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Shell profits up in first quarter

Category : Business

Oil giant Royal Dutch Shell reports a rise in first quarter profits and says chief executive Peter Voser will retire next year.

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AusTex Oil Limited (ATXDY: OTCQX International) | Home Country News Release – Becoming a substantial holder

Category : Stocks

AusTex Oil Limited has filed a Home Country News Release – Becoming a substantial holder To view the full release click here (link to PDF).

Read more here: AusTex Oil Limited (ATXDY: OTCQX International) | Home Country News Release – Becoming a substantial holder

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AusTex Oil Limited (ATXDY: OTCQX International) | Home Country News Release – Production Activities and Results – Audio Interview

Category : Stocks

AusTex Oil Limited has filed a Home Country News Release – Production Activities and Results ? Audio Interview To view the full release click here (link to PDF).

See the article here: AusTex Oil Limited (ATXDY: OTCQX International) | Home Country News Release – Production Activities and Results – Audio Interview

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