Tue Sep 24 04:18:53 UTC 2024: ## TAG Oil Shares Plunge 33.3% on Monday

**Toronto, Canada – September 24, 2024** – TAG Oil Ltd. (TSE:TAO) experienced a significant drop in share price on Monday, closing at C$0.13, a 33.3% decline from the previous day’s close of C$0.20. The company, which focuses on oil and gas exploration and production in Canada, New Zealand, and Australia, saw a trading volume of 63,400 shares, a 47% decrease from its daily average.

While TAG Oil boasts a strong financial position with a current ratio of 81.24 and a quick ratio of 81.14, indicating ample liquidity, its market cap stands at C$11.10 million and its P/E ratio is 1.86. The company’s 50-day moving average price sits at C$0.13.

TAG Oil’s operations include eight exploration and production permits in New Zealand and one in Australia. The company holds interests in the Taranaki basin in New Zealand and a 100% interest in the Petroleum Lease 17 permit covering 25,700 acres in the Surat Basin of Australia.

Analysts are currently watching the company closely to understand the factors contributing to the significant drop in share price.

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