Controversial Canadian oil and gas explorer announces a $C66 million investment in new drilling facilities in, including reopening the search for so-called “tight” oil and gas in Taranaki.

Canadian listed oil and gas company TAG Oil is producing 4000 barrels of oil a day from its onshore Taranaki fields after adding a further 1100 barrels a day from its Cheal-B7 well, and has another 3,500 barrels daily ready to come on-stream.

UPDATED The blue chip Dow index is the closest it has been to 12,000 in the past two and a half years.

All Black Dan Carter is set to close the second and third of his four Gas clothing stores, citing tough economic times.

Earlier this year, the trendy Gas Italian clothing store in Newmarket closed, and now Carter’s business partner Rhys Brooking says the Christchurch and Mt Maunganui stores will also close in the coming weeks, leaving only the Wellington store open.

An Auckland retailing advocate says the closures reflect the state of the economy rather Carter’s business acumen.