Tamarind is pleased to announce that we have signed a relationship agreement with Te Korowai o Ngāruahine Trust.

Ngāruahine is one of the eight iwi in Taranaki and its rohe is located between Taranaki Iwi to the west and Ngāti Ruanui to the east. The Tasman Sea is of particular significance to Ngāruahine, as historically it provided a means of navigation, a mechanism by which trade was conducted and particularly, sustenance by way of the food (mataitai/shellfish) contained within it.

Tamarind respects Te Korowai’s kaitiakitanga approach and is committed to working together with Te Korowai to enable ongoing information sharing and mutual education on matters relating to Tamarind’s activities and Te Korowai’s interests in the ocean and coastal marine area within its rohe. 

​Our agreement sets out a framework for an ongoing relationship and to record the mutual commitment to work together to achieve the agreed goals based on the values of:

• Whakapono – trust, honesty and integrity.
• Whanaungatanga – meaningful relationships based on good faith.
• Kanohi ki te kanohi – meaningful engagement and consultation.
• Kaitiakitanga – environmental stewardship, protection and enhancement.
• Kotahitanga – agreement to work together towards achieving the purpose of the Relationship Agreement.

​We look forward to further building our relationship with Te Korowai o Ngāruahine Trust and to finding ways that we can support their mission to be a healthy, wealthy and culturally vibrant iwi.

As announced in November 2018, Tamarind entered into a share and asset purchase agreement with TAG Oil Ltd. to acquire their Taranaki Basin assets.

TAG shareholders voted to approve the transaction on 3rd January 2019 and Tamarind has been busy working through transition planning.

Tamarind is working on transitioning a number of TAG’s employees to the company at completion of the transaction. As an established operator in the Taranaki Basin, Tamarind has a number of similarly established roles already. Unfortunately, this means there won’t be suitable roles for a number of TAG’s employees after the transition to Tamarind as operator. Tamarind’s main priority is to ensure a seamless and safe transition during the transfer period.

Deal close is expected to be on or around 31st March 2019 and remains subject to regulatory and government approvals.

State Gas, which is approximately 37 percent owned by Triangle Energy, posted the following news release this morning.

Read the full ASX Release below.

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: