Afdil Finance

Non Profit Charity Approved by the Division of Banking to Offer Debt Management Plans in the State of Iowa

Lighthouse Point, FL (PRWEB) April 13, 2012

Debt Management Credit Counseling Corp (dmcconline.org), a nonprofit charitable organization (“DMCC”), announced today they have been approved by the Division of Banking to conduct business in the state of Iowa. This means that Iowa citizens are now able to speak to a DMCC certified credit counselor and discuss their eligibility for a debt management plan in order to lower their monthly payments for their unsecured debts. DMCC counselors will not only assist these consumers with a debt management plan but also teach the importance of maintaining a budget in order to get out of debt and to sustain financial stability.

Debt management plans are only offered by creditors through accredited credit counseling agencies that are licensed or otherwise authorized to provide such services in the state in which consumer resides. These plans are offered to consumers in cooperation with their creditors, who in most cases agree to reduce interest rates, eliminate past due and over-limit fees, stop collection efforts, and report the accounts as current to the major credit bureaus. “For over a decade, DMCC has been helping consumers with the consolidation of their debt payments through our debt management plans” said Stephen Lichtenberger, Manager of Operations. “These plans are a viable solution for consumers who need assistance in repaying their credit cards as a result of an unforeseen hardship.”

In addition to debt management plans, DMCC provides an array of educational materials to help consumers stay informed on the latest financial information; including a proprietary self-study financial literacy program available for free on their website. DMCC also offers free counseling to help consumers get started with the organization of their finances. It is a U.S. Trustee approved agency to offer bankruptcy counseling and education and as a HUD Approved Housing Counseling Agency DMCC offers foreclosure prevention and loan modification. Consumers interested in a debt management plan or any other services offered, should call DMCC and speak with a counselor regarding their personal financial situation.

About Debt Management Credit Counseling Corp.

DMCC is a nonprofit 501(c)(3) public charity committed to educating consumers on financial issues and providing personal assistance to consumers overextended with debt. Education is provided free of charge to consumers via seminars, workshops, a proprietary financial literacy program, and a vast array of online and printed materials. Free personal counseling is provided to consumers to identify the best options for the repayment of their debt. Consumers interested in speaking with a DMCC certified credit counselor may call (866) 618-3328 or request help at dmcconline.org. DMCC is a HUD Approved Housing Counseling Agency, is approved by the U.S. Trustee to provide bankruptcy counseling and education, and has an A+ rating with the Better Business Bureau.

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Credit Vault Publishing Endorses and Partners with Socially Responsible Lender

Credit Vault Publishing

Portland, OR (PRWEB) March 04, 2012

Credit Vault Publishing, publisher of the Credit Power guidebooks, has fully endorsed and partnered with PayFor Loan Company (“PayFor”), an innovative loan company that helps U.S. consumers get out from under the burden of excessive debts while looking to rebuild their credit ratings.

PayFor Loan Company’s program allows consumers with excessive unpaid debts to qualify for a refinance of the unpaid unsecured debts at a discount to the original amount owed on accounts such as credit cards, collections, repossessions, medical bills and IRS debts. PayFor provides new financing for consumers settlement accounts.

Roger Cruise, a noted expert on consumer credit and finance and primary author of the Credit Power guidebooks, states that, “PayFor Loan Company truly stands alone in its objectives to help as many consumers as possible get out from underneath their burden of crushing debt. We are truly impressed with PayFor’s commitment to make such a positive impact in millions of people’s lives across the U.S., and wholly endorse PayFor’s debt repayment program, stated Mr. Cruise.”

“PayFor accepts this endorsement and welcomes the partnership with Credit Vault Publishing. It is truly a great privilege to be recognized by an expert that aligns with PayFor’s mission to help families across America rid their burden of debts and become more educated about credit and finance.” states PayFor’s CEO, John Tran.

About Credit Vault Publishing:

Credit Vault Publishing was established in 2011 to provide a wide range of educational products, tools and in-depth information that helps millions of America’s consumers to thoroughly understand how to repair, build and maximize their credit ratings, while improving their finances in the process.

About PayFor Loan Company:

PayFor is more than just a business for its employees and partners. It is a team of experienced, dedicated professionals who have together helped thousands of people and managed over one billion dollars of unsecured debt. Headquartered in the Bay area of California and with locations all across the United States, PayFor is here for anyone in the U.S. that needs help with their unsecured debts. PayFor is a socially responsible lender.

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Freedom Debt Relief Offers 9 Tips to Keep to Get-Out-of-Debt Resolution

San Mateo, CA (PRWEB) February 28, 2012

With up to 88 percent of individuals failing to keep their New Year’s resolutions, now is the time for those who resolved to reduce debt in 2012 to stay motivated, according to Kevin Gallegos, vice president of Phoenix operations for Freedom Debt Relief (FDR).

“Getting out of debt is one of the most time-honored resolutions each year,” said Gallegos. “It’s a resolution that makes sense, as the average American household that carries credit card debt owes nearly $ 16,000.” Come February, though, sticking to resolutions to find debt relief can become hard.

Gallegos offered nine tips to help people stick to their 2012 get-out-of-debt resolutions.

1.    Determine your baseline. “You can’t get where you’re going unless you know where you’re starting from.” When it comes to finances and debt, the starting point is a list of everything you owe, including mortgage, credit card debts, auto loans, student loans, personal loans, payday loans, medical bills, and any overdue amounts for utilities, insurance, etc. Next, create a list of monthly income and “must-pay” expenses. These expenses include shelter, basic food, utilities, transportation necessary for your job, basic clothing, etc. The difference of income minus necessary expenses equals your discretionary income. From this amount, you must pay all other expenses – entertainment, eating out, shopping, travel, cable TV, phone service – as well as debt.

2.    Determine debt-paying priorities. Necessities such as food, shelter and utilities are most important. A vehicle may be necessary for transportation to a job. After making those payments, determine how to allocate any additional money toward your get-out-of-debt resolution. Pay payday loans first, and then credit cards. During this time, do not add to your debt. Use cash, checks, debit or electronic withdrawal from your checking account. Take credit cards out of your wallet and delete credit card information from online shopping sites. Think twice before closing credit card accounts, as this could lower your credit score by reducing the amount of available credit.

3.    Get organized. Beside each bill you listed in Step No. 1, note payment amount, interest rate and due date. Write down how much you will pay each month to each creditor. Pay at least the minimum amount on each bill. To eliminate debt, pay any extra funds you have available to one debt until it is paid off. Then transfer the “extra,” as well as what you were paying on that debt, to the next bill until it is repaid, and so on. Some people like to pay off the smallest balances first, to get the fastest sense of accomplishment. Others like to pay the debt with the highest interest rate first, in order to minimize interest fees. Choose one method and stay consistent.

4.    Get serious about expenses. It may be possible to make $ 100 a month or more available by carefully scrutinizing expenses, said Gallegos. That may include steps like bringing lunch from home, giving up cigarettes or alcohol, bicycling or carpooling to work, or giving up subscriptions to movie services, music services, magazines or paid websites. Store brands and coupons can help. Also make sure to avoid paying for expedited shipping or “convenience” fees. Keep notes on what you save, and apply that amount to your debt. While monthly progress may seem small, remember to think long-term; your efforts will pay off.

5.    Track progress. Use a spreadsheet – or pencil and paper – to track how much debt you have paid. Note the month and starting total balance, and update it every month. It is also a good idea to get your free credit report once a year at http://www.annualcreditreport.com.

6.    Pay on time. On-time payments will eliminate late fees and penalty interest rates that make debt mount faster, noted Gallegos. They also are the most important element of good credit, which will help down the road in qualifying for lower interest rates on a house or car loan. Good credit can also help with securing an apartment rental and even a job.

7.    Know when to get help. If you cannot afford your debt payments, consider getting professional help. Many sources and types of help are available. These might include credit counseling and debt management plans, debt consolidation or debt settlement (also known as credit advocacy). For those in serious debt situations for whom debt management or debt relief services cannot help, bankruptcy may be the right solution.

8.    Create an emergency fund. Put some portion of your income into savings for emergencies. Most financial advisors suggest savings should cover three to six months of necessary living expenses. But even a few hundred dollars to start can prevent you from going into debt when you face a medical bill, auto repair or other unexpected expense. If you can save as little as $ 25 per month, you would have $ 300 at the end of the year.

9.    Save. Work toward saving at least 10 percent of all income to eventually have three to six months of necessary living expense. But even a small amount can prevent you from going into debt when you face a medical bill, auto repair or other unexpected expense.

“Even if things have gotten off to a rocky start, it’s not too late to make 2012 the year to get out of debt,” said Gallegos. “Achieving any New Year’s resolution requires patience and persistence, but it will be worth it to create a better future.”

Freedom Debt Relief (http://www.freedomdebtrelief.com)

Freedom Debt Relief provides consumer credit advocacy, also known as debt resolution or debt settlement, services. Working as an independent advocate for consumers to negotiate with creditors and lower principal balances due, the company has resolved more than $ 1.5 billion in debt for more than 120,000 clients since 2002. The company is an accredited member of the American Fair Credit Council (formerly The Association of Settlement Companies) and a platinum member of the International Association of Professional Debt Arbitrators. FDR holds the Goldline Research Preferred Provider certification for excellence among debt relief companies.

Freedom Debt Relief is a wholly owned subsidiary of Freedom Financial Network LLC (FFN). Based in San Mateo, Calif., FFN also operates an office in Tempe, Ariz. The company, with more than 500 employees, was voted one of the best places to work in the San Francisco Bay area in 2008 and 2009, and in the Phoenix area in 2008, 2009 and 2010. FFN’s founders received the Northern California Ernst & Young Entrepreneur of the Year Award in 2008.

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The US Sports Clubs and Promoters Market to Reach US$ 19.23 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

San Jose, California (PRWEB) February 14, 2012

Follow us on LinkedIn – Soccer and baseball are the most popular forms of sports in the world. Sports industry is expanding at an enormous rate across the globe. Commercialization in the sports industry is attributed to the wide accessibility of sports leagues and games. In the North American region, National Football League, Major League Baseball, National Basketball Association, and National Hockey League are the most successful professional sports franchises. The professional soccer league is one of the most successful franchises in Japan. The Japanese soccer league (J-League) operates as an independent business in Japan.

Additionally, many of these commercial companies also utilize the venue of each game to generate profits. Sports broadcasting companies are counted among the major players in the sports industry. Even the high rates of sports telecasting rights and lower ratings of most sports did not affect the television domain. For instance, in the US, most of the NFL teams charged higher broadcasting rights, as compared to the teams from other leagues. Additionally, NFL also allowed the DirecTV satellite deal worth US$ 2.0 billion. Baseball is the other form of sports, which is benefited from broadcasting in the sports industry.

Sports clubs cover a diverse sector, including clubs such as soccer, baseball, basketball, rugby, hockey, golf, Formula 1, cricket, and other forms of sport. Rising overhead costs are a cause for concern for sports organizers who find it a challenge to maintain profitability, despite the huge popularity of sports such as soccer, basketball, and baseball. Escalating stadium costs, player fees, and taxes are some of the expenses that are eating into the organizers’ profits.

Sports related tourism is an annual US$ 51 billion industry. The Middle Eastern nations, such as Dubai and UAE, are conducting several sporting events, such as Skiing, Formula 1, Golf, Equestrian events and others in order to consolidate the region’s position as a travel destination. The sports clubs and promoters market is a mature concept in North America and Europe, and an evolving industry in the Asia-Pacific region. Major endorsement deals and corporate sponsorship is widely prevalent in western nations, however, the concept is not as widespread in the Asia-Pacific zone where it is still a gradually increasing phenomenon.

The research report titled “Sports Clubs & Promoters: A Global Outlook” announced by Global Industry Analysts Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a rudimentary overview of the industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Regional markets elaborated upon include the United States, Europe, Germany, The United Kingdom, Asia, Singapore, among others. The report offers a compilation of recent mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

For more details about this comprehensive industry report, please visit –

http://www.strategyr.com/Sports_Clubs_and_Promoters_Industry_Market_Report.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.

Follow us on LinkedIn

Global Industry Analysts, Inc.

Telephone: 408-528-9966

Fax: 408-528-9977

Email: press(at)StrategyR(dot)com

Web Site: http://www.StrategyR.com/

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Debt Collections Booming Business, Consumers Look For Help

American Financial Solutions

Seattle, WA (PRWEB) February 09, 2012

According to a new report released by the Association of Credit and Collection Professionals (ACA), debt collection agencies recovered $ 55 billion in debt owed to creditors during 2010 (ACA International, 2012). The money generated for the economy as a whole is positive. However, for consumers dealing with collection agencies and debt management, the experience is not always pleasant. To help consumers know their rights and responsibilities when working with collection agencies, American Financial Solutions has put together a quick tip sheet.

[1] If you receive a letter or a telephone call from a collection agency, respond. Ignoring the debt or correspondence from the collection agency can result in additional fees, possible court proceedings and damage to your credit report.

[2] Attempt to communicate in writing. Writing provides a record of all conversations, agreements and payments. When you send a letter, send it via the Post Office as certified mail, return receipt requested. This provides proof you sent the document and proof that the collection agency received it.

[3] For telephone contacts, keep a note pad to document the day, time, name of the collection agent, name of the collection agency and a brief description of the conversation that took place during the call.

[4] Attempt to communicate calmly when speaking with a debt collector. If you sense the conversation is going badly, politely let them know you are hanging up and will follow up the conversation with a letter.

[5] If you have any doubt that you owe the debt, dispute it. Request, in writing, that the agency provide proof of the debt.

[6] If you do owe the debt, know what you can afford to pay before you agree to a payment. For instance, the collection agency states the bill is $ 375 and you must pay $ 125 for the next three weeks. Do not agree to pay that amount if you know you cannot. Explain what you can afford to pay.

[7] Collection agencies do not have to accept your payment (if less than they want), but send it anyway. If they cash it, it will be used to pay down your debt. If they return the payment back to you, keep the letter and envelope they return it in and continue to send the amount you promised to pay.

[8] If you owe multiple debts to the same collection agency, you can specify which account you want your funds to go to. The agency may have merged the debt together like a debt consolidation, but they are still separate.

[9] In the event a collection agency takes you to court over the debt be sure to respond to the court either personally or through an attorney. Bring all documentation including your notes with you. If you do not respond to the court notice the collection agency can obtain a default judgment against you. This judgment can allow them to garnish wages and freeze bank accounts.

[10] Learn all of your rights when dealing with debt collectors. Visit the Federal Trade Commission’s website.

Managing debt that has been turned over to collections can be frustrating. There are many rules and regulations that govern someone attempting to collect a debt and provide consumers with some protection. To learn more about dealing with debt collectors, debt consolidation or debt management, contact a certified credit counselor today.

American Financial Solutions(AFS) is a non-profit 501(c)3 financial education and credit counseling agency that helps people find solutions for managing their money and improving their financial lives. Since 1999, AFS has helped individuals across the United States through one-on-one counseling, classes and the use of debt management plans. AFS is a member of the National Foundation for Credit Counseling (NFCC) as well as the Association for Independent Consumer Credit Counseling Agencies (AICCCA). AFS is also accredited by the Council on Accreditation (COA) and has an A+ rating by the Better Business Bureau. Find us and like us on Facebook, Twitter and Google+.

ACA International. (2012). New study shows third party debt collection substantially impacts California’s economy. [Press release]. Retrieved from prnewswire.com/news-releases/new-study-shows-third-party-debt-collection-substantially-impacts-californias-economy-138347704.html

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CEO, Garrett Puckett, Proudly Announces the Recently Launched VA Loan Websites with Security America Mortgage, Inc., for Veterans Relocating to North Carolina

Toll Free VA Loan Number

(PRWEB) February 03, 2012

Security America Mortgage, Inc. recently announced released the VA Loan calculations on YouTube to grow the knowledge base for American Veterans and Military War Heroes who are purchasing a home in 2012. The VA home mortgage company also launched an additional “VA Home Loan” websites. These changes were done to reflect more location specific challenges coming this year. With a proactive and supporting role, Security America Mortgage, Inc. announced the 2012 calculation changes to all of their connected military members in Florida as well as launching new location websites that support the need to spread the word to all military service members about how the VA Purchase in Florida will be affected.

For example, as of January 1, 2012, the Department of Veteran Affairs changed a few of their standards for how calculations can be made to VA loans by lenders, which are the methods used to calculate the VA loan maximum amounts/minimum amounts. But what will these changes really mean for veterans and active duty military members who are ready to buy a home using a VA Loan in Florida? It means that Veterans buying a home in cities like Miami, Orlando, and Tampa will need to re-learn what to expect (and how much they can receive) from their VA Home Loan.

The VA Home Loan experts take a unique approach to showing how much better VA Loan amounts will be in the year going forward by reminding military members how easy buying a home can be with simplified examples of the VA Loan Process and VA Refinance.

The good news is that the loan amounts are funded by lenders, like Security America Mortgage, Inc., and the amounts are all calculated by the mortgage company – not the VA. The VA only insures the VA guaranty loan up to a certain amount – which is kind of like a “promise” to the lender to pay a home loan for a veteran if they ever default on a loan for any reason. For expert mortgage companies like Security America Mortgage, Inc., who specialize in VA loan and Real Estate services for Florida home buyers, they can still offer VA loans that provide the lowest rates possible in 2012. Since the 2012 VA loan calculations do not alter the great VA benefits, VA loans can still be obtained by eligible members in order to:

1. Purchase or build a new home

2. Purchase a residential condominium unit

3. Purchase a residential cooperative housing unit

4. Repair, alter, or improve a residence owned by the veteran and occupied as a home

5. Refinance an existing VA or conventional home loan

6. Buy a manufactured home and/or lot

7. Install a solar heating or cooling system or other energy-efficient improvements

The 2012 calculations also make it easier for Security America Mortgage, Inc. provide better Florida VA loan services to pre-approve VA home and refinance loans for military members buying a home in Florida cities like Miami, Orlando, and Tampa. In fact, there are actually the three different VA Refinance options available for military individuals who want to save money by lowering monthly mortgage payments significantly.

The Florida VA Refinance Loan options are as follows: VA Loan Refinance Option #1 – VA Streamline Refinance – Interest Rate Reduction Loan (IRRL), VA Loan Refinance Option #2 – “Cash-Out” or Debt Consolidation Refinance, VA Loan Refinance Option #3 – Conventional to VA Refinance Loan.

GET STARTED WITH A VA HOME LOAN BENEFIT WITH SECURITY AMERICA MORTGAGE EXPERTS NOW!

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Legal Industry to struggle in the UK: A timid corporate arena will lead to struggling demand and revenue

IBISWorld Market Research

London, United Kingdom (PRWEB) November 28, 2011

The Legal industry in the United Kingdom is expected to experience a slow recovery over the coming five years, according to IBISWorld, the UK’s largest publisher of industry market research. According to IBISWorld’s latest report, growth will be held back by government fiscal austerity measures, which will affect not just public sector spending but also the private sector. Despite early indications of recovery, industry revenue is expected to decline by another 0.4% in 2011-12 to £25.5 billion as a turbulent economic environment continues to depress growth. Consequently, overall industry revenue is anticipated to decline by 0.8% annually over the five years.

The global financial crisis delivered a substantial hit to the Legal industry in the UK, with revenue declining by 1.9% in 2008-09 and then a further 5.4% in 2009-10. Ever since, recovery has been slow as debt woes in Europe and tighter capital restrictions constrain banking liquidity and consequently dampen economic activity. Worst affected have been the top-tier firms, which earn the bulk of their revenue from major corporate clients. Although initial activity resulting from the collapse held up revenue over 2009, a decline in corporate transactions and merger and acquisition activity caused revenue and profits for the large firms to fall in 2009-10. However, as corporate investments pick up both locally and abroad, magic circle firms which have an estimated 10% of the domestic legal activities market have reported marginal revenue growth but greater profit growth made on the back of efficiency gains. According to IBISWorld, despite early indications of recovery, industry revenue is expected to decline by another 0.4% in 2011-12 to £25.5 billion as a turbulent economic environment continues to depress growth. Consequently, overall industry revenue is anticipated to decline by 0.8% annually over the five years.

According to IBISWorld analyst, Ee Jen Lee, the gloomy days are expected to end beginning 2012-13, with industry revenue expected to grow by 2.3% annually over the five years through 2016-17 to reach £28.6 billion. “Growth will be fuelled by UK firms operations overseas and to a lesser extent liberalisation of the legal industry via the Legal Services Act (2007),” says Jen Lee. This new regulation, which came into effect on 6 October 2011, has been dubbed the ‘Big Bang’ by many industry participants as it will change the face of ownership of many of the legal firms, allowing non-lawyers to own a stake in law firms for the first time.

The Legal industry in the UK has healthy profit levels but has been under pressure of falling revenue. Law firms engaged in large-scale cost reductions over 2009, including a wave of job cuts and outsourcing support functions. This largely protected margins, which sit at about 28% of revenue. In coming years, profits will come under pressure as clients increasingly demand alternative pricing models to the main practice of hourly billing.

According to IBISWorld, the UK Legal Industry is in a mature stage of its life cycle. Some opportunities exist in the local market, but law firms have been encouraged to expand into regions such as the Middle East and Asia where promising growth prospects are evident. The industry is also likely to experience increased competition and consolidation as it matures further.

For more information, download the full report from IBISWorld on the UK Legal industry

IBISWorld Industry Market Research Reports Contain:

About this Industry

Industry Definition

Main Activities

Similar Industries

Additional Resources

Industry at a Glance

Industry Performance

Executive Summary

Key External Drivers

Current Performance

Industry Outlook

Industry Life Cycle

Products & Markets

Supply Chain

Products & Services

Major Markets

Globalisation & Trade

Business Locations

Competitive Landscape

Market Share Concentration

Key Success Factors

Cost Structure Benchmarks

Barriers to Entry

Major Companies

Operating Conditions

Capital Intensity

Key Statistics

Industry Data

Annual Change

Key Ratios

Jargon & Glossary

About IBISWorld Inc.

Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on hundreds of UK industries. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in London, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.co.uk or call 020-3008-6568.

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Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Debt Consolidation Loan Financed Without Concern for Bad Credit History

(PRWEB) November 13, 2005

Borrowers with bad credit have always found it difficult to convince loan providers of the necessity for debt consolidation loans. Loan providers presume that the borrowers with bad credit are intentional defaulters, and their debt consolidation loan would see a similar fate if lent to these borrowers. UK Debt Consolidations views the case of the bad credit borrowers through different eyes. Most borrowers, who have undergone bad credit, suffered it because of no fault of theirs. Thus, UK Debt Consolidations has come up with equally competitive deals in debt consolidation loans for bad credit borrowers.

The use of debt consolidation loans shows how devoted one is towards finding a way out of the debt trap. In secured debt consolidation loans, where the borrower is required to back repayments with an asset, the commitment to the process is further visible. Through debt consolidation loans for bad credit, UK Debt Consolidations rewards the commitment shown.

The operations manager at UK Debt Consolidations justified debt consolidation loans for bad credit in the following words. “There is no point in penalising bad credit borrowers through high rates of interest and too strict terms. Neither is it feasible to refuse loans to bad credit borrowers, who are a sizable part of the population.” Unlike most loan providers who would conceal important facts in order to mislead borrowers, UK Debt consolidations believes in making things transparent. The exact terms on which the loan will be available will be dictated through the loan quote. The terms are available for further negotiations.

With a range of products to cater to the debt problems, UK Debt Consolidations is surely the best debt consolidation loan provider. Apart from bad debt consolidation loans for bad credit borrowers, UK Debt consolidations provides unsecured debt consolidation loans, debt counselling, mortgage debt consolidation and debt management.

Queries on any of the debt management techniques will be catered immediately through http://www.ukdebtconsolidations.co.uk.

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Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

TAG Files Q2 Fiscal 2012 Financials and Reports Significant Increase in Revenue and Cash Flow

Vancouver, B.C. (PRWEB) November 16, 2011

TAG Oil Ltd. (TSX: TAO) and (OTCQX: TAOIF), a Canadian-based production and exploration company with extensive operations in New Zealand, reports the Company has filed its September 30, 2011 condensed consolidated unaudited financial statements and management discussion and analysis with the Canadian Securities Administrators for the second quarter of the Company’s 2012 fiscal year. Copies of these documents can be obtained electronically at http://www.sedar.com, or for additional information please visit TAG Oil’s website at http://www.tagoil.com/.

September 30, 2011 Results (Q2 – 2012 fiscal year)

    Production revenue increased to $ 7,377,177 (six months: $ 13,230,278) compared
        to $ 2,413,333 (six months: $ 4,227,063) in Q2 2011 fiscal year.

    A net profit of $ 2,799,434 (six months: $ 4,983,742) was recorded before deducting
        non-cash stock-based compensation expenses.

    Per barrel production, storage and transportation costs of $ 18.20 per boe
        (six months: $ 15.83) for the quarter compared to $ 16.83 (six months: $ 17.79)

        for the comparable period last year.

    Net operating cash flow of $ 3.53 million (six months: $ 6.29 million) for the quarter.
    TAG produced 60,826 barrels (six months: 117,335) of light oil in the quarter and
        sold 63,633 barrels (six months: 114,585) of oil at an average price of $ 112 per barrel.

    TAG’s current daily production averaging approximately 2000 boe/day with significant
        production increases in coming months.

    Preparing to test 4 new discovery wells at Cheal.
    Sidewinder-1, the first well tied into the new Sidewinder Production Station on
        September 22, 2011, averaged 6 million cubic feet of gas and 43 barrels of oil per

        day (1043 boe/day).

Taranaki Basin Operations:

TAG’s drilling operations in Taranaki continue to achieve excellent results with the first three wells (Cheal-C2, A8 and B5) in the next 10-well drilling campaign now cased and completed for upcoming testing operations. Oil and gas were encountered during drilling and electric logs indicated high-quality oil and gas pay in all wells.

Testing operations are now being conducted on the four most recent Cheal wells over the next 30 to 60 days (Cheal-C1, C2, A8 and B5) with drilling continuing to target the Mt. Messenger (~1800m) and the shallower Urenui (~1400m) Formations.

As the current Cheal testing program progresses, TAG is revising its production and reserve profile upward for the Cheal field. Recent drilling success has exceeded expectations, and after all new wells are adequately tested, TAG will consider all options to increase daily production and cash flow while maximizing the net present value of the field. Provision for high-impact deep prospects such as Cardiff, will also be included in TAG’s expanding development plans for the Cheal field.

Summary of last 10 TAG wells drilled in Taranaki:

Sidewinder-1    Producing

Sidewinder-2    Awaiting tie-in

Sidewinder-3    Producing

Sidewinder-4    Awaiting tie-in

Cheal-BH-1    Producing

Cheal-B4ST     Producing

Cheal-C1             Testing

Cheal-C2            Testing

Cheal-A8            Testing

Cheal-B5            Testing

TAG Oil CEO, Garth Johnson commented “Our drilling operations to date are continuing to exceed our expectations. As a result our revenue and cash flow have significantly increased and we are continuing to drill and test new discovery wells. We are currently conducting testing operations on Cheal-C1, C2, A8 and B5 and with each new well we drill we learn more about Cheal. Once this testing program is completed we will determine the most optimal way of producing the Cheal field long-term, which may include some enhancement to our current infrastructure to meet the production capabilities these wells can provide. At the same time, our development and infrastructure plan will not only address our most recent wells, but will also prepare for the productive potential of our deeper prospects such as Cardiff (PMP 38156) and Hellfire (PEP 38748) that we intend to drill in 2012/2013.”

Cheal Oil and Gas Field – 100% Interest

The Cheal field continues to perform strongly with low decline rates. Daily production of approximately 800 barrels of oil equivalent per day is coming from just 5 of 12 wells proven capable of production at Cheal. Production will be ramped up from newly drilled wells Cheal-A8, Cheal-B5, Cheal-C1 and Cheal-C2 and from the existing Cheal-A1, B1 and B2 wells that are undergoing artificial lift optimization. All wells are scheduled to be on stream in January 2012.

In addition to this active drilling campaign, TAG is also conducting Cheal’s first secondary recovery scheme at the “A” pool, a program forecast to cost-effectively increase recovery factors significantly within the Cheal A site’s oil reserves.

Sidewinder Oil and Gas Field – 100% Interest

Permanent tie-in of the Sidewinder-2 through 4 wells is expected to be completed by December 31, 2011; current daily Sidewinder production is averaging 1200 boe per day. TAG is currently acquiring a 60 square kilometer 2D seismic program that will be followed by a multi-well drilling program within this lightly explored permit.

East Coast Basin Operations

TAG recently entered into a farmout agreement with Apache Corporation in Q2 2012 to explore and potentially develop oil and natural gas resources in the East Coast Basin of New Zealand.

Apache has agreed to spend up to $ 100 million to conduct a multi-phased exploration, appraisal and potential development program within TAG’s East Coast Basin Petroleum Exploration Permits PEP 38348, PEP 38349 and PEP 50940 (“the Permits”).

Currently TAG and Apache are undergoing a consultation process with various parties related to exploration activities planned in the East Coast and preparation is underway to begin a 130 km seismic program within PEP 38348 and PEP 38349.

Liquidity and Financial Summary

TAG ended the second quarter of fiscal 2012 in a strong financial position: the Company remains debt free with net working capital at September 30, 2011 of $ 57.9 million. Subsequent to the end of Q2, more than 3.27 million warrants were exercised providing an additional $ 11.7 million to working capital.

Production revenue was $ 7.38 million for Q2 and $ 13.23 million for the six months ended September 30, 2011 compared to $ 2.41 million and $ 4.23 million for the same periods last year. The Company generated a net profit for the quarter of $ 2.8 million before deducting $ 1.9 million for non-cash stock-based compensation and a net profit of $ 4.98 million for the six months ended September 30, 2011.

During the second quarter TAG produced 60,826 (six months: 117,335) barrels and sold 63,633 (six months: 114,585) barrels of light oil with a selling price averaging $ 112 per barrel. Per barrel production cost for the quarter was $ 18.20 (six months: $ 15.83) per boe; the slight increase in per unit production costs is associated with the initial commissioning of the Sidewinder Production Facility. This facility is scheduled to become un-manned by December 2011, at which point overall per unit production costs are forecast to reduce significantly.

Expenditures on the Company’s oil and gas properties during the second quarter totaled $ 9.4 million (six months: 19.8 million) primarily invested in the Company’s Taranaki operations. TAG will continue to focus on developing the shallow formations through vertical drilling operations at Cheal and Sidewinder to build near-term reserves and production revenue as operations.

As of today’s date the Company had 54,443,234 common shares outstanding and 57,658,520 common shares outstanding on a fully diluted basis.

TAG Oil Ltd.

TAG Oil Ltd. (http://www.tagoil.com/) is a Canadian-based production and exploration company with operations focused exclusively in New Zealand. With 100% control over all its core assets, including oil and gas production infrastructure, TAG is anticipating substantial oil and gas production and reserve growth through development of several light oil and gas discoveries. TAG is also actively drilling high-impact exploration prospects identified across more than 1,300 sections of land in the onshore Taranaki and East Coast Basins of New Zealand’s North Island.

In the East Coast Basin, TAG Oil is pursuing the major unconventional resource potential estimated in the fractured shale source-rock formations that are widespread over the Company’s acreage. These oil-rich and naturally fractured formations have many similarities to North America’s Bakken Shale source-rock formation in the successful Williston Basin.

Contact:

Dan Brown or Garth Johnson

TAG Oil Ltd., 1-604-682-6496

Important Information:

”BOEs” may be misleading, particularly if used in isolation. A BOE conversion ratio of 6Mcf: 1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Cautionary Note Regarding Anticipated Results and Forward-Looking Statements:

Statements contained in this news release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of TAG Oil. Such statements can generally, but not always, identified by words such as “expects”, “plans”, “anticipates”, “intends”, “estimates”, “forecasts”, “schedules”, “prepares”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. These statements are based on certain factors and assumptions including;

A. all estimates and statements that describe the Company’s objectives, goals, or future plans relating to the seismic, testing and drilling programs in Taranaki are forward-looking statements under applicable securities laws and necessarily involve risks and uncertainties including, without limitation: risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, volatility of commodity prices, imprecision of reserve estimates, environmental risks, competition from other producers, and changes in the regulatory and taxation environment. These forward-looking statements are based on certain factors and assumptions, including factors and assumptions regarding the management’s views on the oil and gas potential in the Permits, the success of any operations, and the costs necessary to complete the operations; and

B. those relating to TAG Oil’s successful exploration and development of its oil and gas properties within the Cheal and Sidewinder project areas, the production and establishment of

additional production of oil and gas in accordance with TAG Oil’s expectations at Cheal and Sidewinder, the increase of cash flow from new production, oil and gas price assumptions and fluctuations, foreign exchange rates, expected growth, results of operations, performance, prospects, evaluations and opportunities and effective income tax rates. While TAG Oil considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Actual results may vary materially from the information provided in this release, and there is no representation by TAG Oil that the actual results realized in the future will be the same in whole or in part as those presented herein.

TAG Oil is involved in the exploration for and production of hydrocarbons, and its property holdings with the exception of the Cheal Oil Field and Sidewinder project area are in the grass roots or primary exploration stage. Exploration for hydrocarbons is a speculative venture necessarily involving substantial risk. There is no certainty that the expenditures incurred on TAG Oil’s exploration properties will result in discoveries of commercial quantities of hydrocarbons. TAG Oil’s future success in exploiting and increasing its current reserve base will depend on TAG Oil’s ability to develop its current properties and on its ability to discover and acquire properties or prospects that are producing. But, there is no assurance that TAG Oil’s future exploration and development efforts will result in the discovery or development of additional commercial accumulations of oil and natural gas.

Other factors that could cause actual results to differ from those contained in the forward-looking statements related to upcoming operations, production forecast modeling and other items, are also set forth in, filings that TAG Oil and its independent evaluator have made, including TAG Oil’s most recent reports in Canada under National Instrument 51-101.

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, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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Chicago, Illinois (PRWEB) August 26, 2009

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©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.