ERC Equipoise Ltd. (ERC) has completed an independent reserves assessment on TAG Oil Ltd.’s (TAG Oil) interests within the Cheal (PMP 38156), Cheal East (PEP 54877) and Sidewinder (PMP 53803) permits, dated and effective 31 March 2017. ERC has assigned a pre-tax net present value of CAN$82.12 million, using a 10% discount rate to the company’s net working interest proven plus probable (2P) reserves.
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