Tag Oil Ltd. – Producing & Exploring For Oil In New Zealand

- properties located in New Zealand where the economic and political situations are stable
- New Zealand gas and oil exploration relatively unexplored
- the company demonstrated confidence with a 1.36 million share buyback announced in October
- only 1,122,000 options to directors and management
- property diversification of 5 separate drill sites covering almost 10,000 acres
- small float: only 16.8 million shares issued and outstanding
- technical analysis positive [see below]
Have attached a TAO daily chart. At first look I would have anticipated a greater pullback after the $1.10 rise beginning October 19 through October 27 perhaps retracing 50% of the move to $1.10. However, we see only a 25% retracement to the present level of $1.30. Both the RSI [above chart] and the MACD [below chart] are bullish. However, it is imperative that the stock does not break the present level of $1.30 on increased volume or a sell off to .75 to .80 is possible.