About Us
In 2006 Tana drilled 12 exploratory wells that resulted in eight discoveries. Tana also brought an additional ten gas wells online in 2006. On August 31, 2006 Tana sold 14 producing properties containing 17 wells producing approximately 30MMCFGPD to CAPCO Offshore, Inc for $83 Million dollars. Tana will use the proceeds from this sale to fund its 2007 exploration and development plans.
In 2007 Tana drilled six operated wells, three of which were drilled on the shelf and three were drilled in deep water. Tana will also begin producing its first deep water field located in Mississippi Canyon Blocks 116/161 which is a non-operated subsea tieback to a nearby BP platform in June or July of 2007.
As of February of 2008 Tana's leasehold interests include 82 leases in the Gulf of Mexico, both on the shelf and in deep water. These 82 leases contain a total of 376,564 gross and 270,046 net acres with an average working interest of 65%.
In May of 2005 Tana International Exploration Company LLC and Tana Oil and Gas (Thailand) Ltd, were formed to pursue international drilling opportunities around the world. In June of 2005 Tana Oil & Gas (Thailand) participated in a three well drilling program in the Gulf of Thailand. While the wells were deemed uneconomic they did provide valuable geologic information. In 2006 Tana participated with the same group in bidding for two large concessions in the Gulf of Thailand. The first concession was awarded to Tana Oil & Gas (Thailand) Ltd, and its partners in December of 2006 and covers approximately 4.6 million acres. The second concession was awarded to Tana Resources (Thailand) Ltd and its partners in February of 2007 and covers approximately 3.3 million acres. Tana has a 25% interest in both concessions which lie in less than 350 feet of water.
In 2007 the seismic shoot began on the first concession and Tana, along with its partners, will evaluate the data and select drillsites early this summer. The anticipated spud date is scheduled for early in the fourth quarter of 2008.
Tana's success can be attributed to its experienced, efficient and dedicated staff. Tana's strategy for continued growth is to focus its exploratory activities on low to moderate risk plays in the Gulf of Mexico as well as internationally by analyzing the latest available 3-D data and utilizing existing infrastructure and maximizing both to their fullest potential. By maintaining a majority working interest position in future wells and operating both the drilling and development operations Tana's goal is to significantly increase reserves and production each year.