Bought shares, raising stake to 17%
Alex Guidi has acquired 3.8 million shares of Tag Oil Ltd., Vancouver, (Toronto Venture: TAO) at approximately C$0.16 for a total of C$611,520. Guidi now owns 15.7 million Tag shares, representing 17.18% of outstanding shares. He adds these additional shares were acquired for investment purposes. Tag has oil and gas assets in the Taranaki Basin in New Zealand. The primary assets include a 30.5% interest in the developing Cheal oil and gas discovery and surrounding high-potential exploration acreage which is in close proximity to the Cheal production facility, in which Tag also holds 30.5% interest.