Big Brothers Big Sisters of Taranaki (BBBS) recently held their Annual General Meeting and were able to reflect on another successful year.

Some of the highlights include 14 new matches being made in the last six months which shows the mentoring programme is continuing to grow. They have over 100 volunteer mentors matched with over 100 children from our community. And they've seen 26 of these matches going strong for more than five years now!

We are proud to support an organisation that is making such a real and positive difference in the lives of so many people. "Although BBBS is a Trust and completely dependent on charitable donations and funding, we remain in  a healthy position due to the partnership we have with Tamarind," says Paul Shearer, Chairperson BBBS Trust.

Check out their website to learn about how you can become a mentor.

Tamarind has recently completed the purchase of a 33.3% interest in the Corowa oil discovery in block WA-41-R. We are looking forward to taking an innovative approach using mobile operating and production units as part of a wider strategy. 

Read the full article below or on Upstream Online.

Read initial coverage from Argonaut highlighting Tamarind's TAG NZ acquisition and possible IPO below.

Check out their full Morning Note below:

Tamarind would like to announce that it has entered into a share and asset purchase agreement with TAG Oil Ltd. to acquire their Taranaki Basin assets. The sale will include TAG’s 100% working interests in: PMP 38156 (Cheal and Cardiff), PMP 53803 (Sidewinder), PMP 60454 (Supplejack), PEP 51153 (Puka), PEP 57065 (Waitoriki) and TAG’s 70% interest in PMP 60291 (Cheal East) and PEP 54877 (Cheal East).
 
We are pleased to be adding to our existing New Zealand portfolio, which is currently focused offshore. Acquiring these onshore assets will provide an opportunity to further leverage our existing capabilities in NZ. The TAG assets currently produce approximately 1,370 boe/d gross with 2P reserves of 4.2MMboe and 3P reserves of 7.9MMboe. We will continue to build on our capabilities in production optimization to further develop the field.

​Transaction Highlights

• Cash payment to TAG of US$30 million at closing.
• TAG to receive a 2.5% gross overriding royalty on future production from all NZ Assets.
• Up to US$5 million in event specific payments payable on achieving various milestones (first milestone, grant of PMP 60454 (Supplejack) conversion, has already been achieved triggering payment of US$500,000 at closing).
• The Transaction will be funded from Tamarind’s available financial resources.

 
We expect the transaction to close in the first quarter of 2019, depending on the required regulatory and corporate approvals.