TAG OIL LTD - TAOIF STOCK NEWS

TAG Oil (TSXV: TAO) (OTCQX: TAOIF) (FSE: T0P) has completed the initial flow-back operation at the BED4-T100 horizontal well. The company mobilized a workover rig to the T100 well to replace the 4 ½" frac tubing with 3 ½" production tubing, install a jet pump for artificial lift, and start long-term production immediately. A 10-day initial production average is expected to be announced in June to assess the productivity potential of the well. CEO Toby Pierce highlighted the importance of this step in achieving efficient and cost-effective oil production.

TAG Oil announced successful initial production test results from its BED4-T100 horizontal well in Egypt's Western Desert. The well tested at 800 barrels of oil per day (BOPD) and showed favorable reservoir characteristics with a water-cut below 30% during the clean-up phase. The well will continue natural flow for 2-3 weeks before artificial lift systems are installed. TAG Oil plans to drill longer horizontal wells in the future, aiming for lateral lengths of up to 1,000 meters with more fracture stages. The company sees this as a important step towards developing the 500 million barrels of oil in the Abu-Roash 'F' tight carbonate reservoir.

TAG Oil reports financial results for the fiscal year ending December 31, 2023. The Company had C$16.4 million in cash and cash equivalents, C$12.2 million in working capital with no debt. TAG Oil focuses on business development in Egypt and other regions.

TAG Oil has successfully completed the multistage hydraulic frac on its BED4-T100 well location, using both acid stimulation and proppant. Over 1,000,000 pounds of sand were pumped across the 308-metre lateral section. The company anticipates flow back operations to begin in the next several days, with stabilized flow rates expected within 10 days of consistent oil flows. Flow rates for the T100 well are expected to be released in May, with further updates on production volumes to follow.

TAG Oil announces mobilization of completion and fracture equipment for the T100 well, with plans to start fracture treatment in April and announce initial production results in May.

TAG Oil (TAOIF) announces successful completion of drilling phase for the BED4-T100 horizontal well in the Abu Roash 'F' limestone formation. The well has penetrated an over-pressured reservoir with exceptional porosity and permeability, showcasing signs of free oil flow and high gas readings. TAG Oil adjusts lateral length for safety and optimizes hydraulic fracture completion design to enhance production capabilities.

TAG Oil Ltd. (TAOIF) provides an update on the drilling progress of the BED4-T100 well in the Badr Oil Field in Egypt. The company has completed re-drilling, reaching a depth of 3,238 meters in the ARF reservoir zone. The drilling of the horizontal pay zone section is underway, expected to take three weeks. Hydraulic fracture stimulation will follow. TAG Oil will keep stakeholders informed.

TAG Oil Ltd. (TSXV: TAO) (OTCQX: TAOIF) provides an update on the drilling progress of the BED4-T100 horizontal well in the Badr Oil Field in the Western Desert of Egypt. Despite challenges with the drilling rig mud system and geo-mechanical hole stability, the company is working on repairs and re-drilling to proceed with drilling the lateral. The ARF target reservoir has shown promising oil shows and high hydrocarbon gas readings, with completion of the drilling phase projected to be done next month.

TAG Oil Ltd. (TSXV: TAO) (OTCQX: TAOIF) has changed its financial year end to December 31 from March 31 to better align with its peer group in the oil and gas sector. The change coincides with traditional financial, operational, and taxation cycles.