TAG OIL LTD - TAOIF STOCK NEWS

TAG Oil Ltd. (TSXV: TAO) provides an update on its acquisition efforts in Egypt and the MENA region. The Company is currently pursuing several strategic acquisition projects and acknowledges that additional time will be necessary to complete these transactions. CEO Toby Pierce emphasizes the importance of in-person meetings with government and industry representatives in Egypt to advance discussions. TAG Oil appreciates shareholder patience as they navigate a longer-than-expected process, believing the efforts will ultimately yield positive results for business growth.

TAG Oil Ltd. (TSXV: TAO, OTCQX: TAOIF) announced its Q3 results for the period ending December 31, 2021. The company reported C$14.1 million in cash and cash equivalents, a decrease from C$15.2 million on September 30, 2021. Working capital increased slightly to C$15.8 million from C$15.6 million. TAG Oil holds no debt and is actively pursuing acquisition projects in Egypt while exploring opportunities in the Middle East and North Africa. Financial statements are available on SEDAR and the company's website.

TAG Oil Ltd. (TSXV: TAO, OTCQX: TAOIF) held its 2021 annual general meeting on December 2, 2021. During the virtual meeting, all six nominees for the board of directors were elected, with votes ranging from 99.52% to 99.86% in favor. Deloitte LLP was appointed as the auditor for the upcoming year. Additionally, shareholders approved the incentive stock option plan with a 94.89% vote in favor. TAG Oil focuses on oil and gas exploration, particularly in the Middle East and North Africa.

TAG Oil Ltd. announced its financial results for Q2 ending September 30, 2021. The company holds C$15.2 million in cash and equivalents, down from C$15.6 million in the previous quarter, with working capital also declining to C$15.6 million from C$16.3 million. TAG Oil remains debt-free and is focused on cost management and resource allocation to enhance shareholder value. The company is actively pursuing acquisition projects in Egypt and exploring strategic opportunities in the Middle East and North Africa. A virtual annual general meeting is scheduled for December 2, 2021.

TAG Oil Ltd. reported its annual and fourth quarter results for the fiscal year ending March 31, 2021. As of this date, the Company had C$15.9 million in cash and C$17.0 million in working capital, maintaining a debt-free status. Capital expenditures were significantly reduced to C$0.2 million from C$3.6 million due to divestments in Australia. Notably, TAG Oil returned C$25.6 million to shareholders as a capital return in April 2020. The Company is pursuing acquisition opportunities in Egypt and other regions to enhance shareholder value.

TAG Oil Ltd. (TSXV: TAO, OTCQX: TAOIF) addressed recent stock trading activity in a press release dated June 2, 2021. The company stated there are no undisclosed developments or material changes responsible for the recent price increase and trading volume. TAG Oil is focusing on managing costs and pursuing acquisition projects in Egypt, along with exploring opportunities in the Middle East and North Africa. Further details will be shared as available.

TAG Oil Ltd. (TSXV: TAO, OTCQX: TAOIF) announced its financial results for Q3 ending December 31, 2020. The company reported cash and cash equivalents of C$16.3 million and working capital of C$18.8 million, both up from the previous quarter. TAG Oil has no debt and incurred capital expenditures of C$78,000 during the quarter, primarily related to the sale of its Australian subsidiary. The company divested its Australian operations for A$2.5 million cash and a 3% royalty on future production, shifting its focus to the Middle East and North Africa for growth.

TAG Oil Ltd. (TSXV: TAO, OTCQX: TAOIF) has entered into a definitive purchase agreement to divest its Australian assets to Luco Energy Pty Ltd. for A$2.5 million. This strategic move aims to realign the company's focus on oil and gas exploration and strengthens its balance sheet. The sale includes TAG's subsidiary, Cypress Petroleum Pty Ltd., which holds 100% working interests in three permits located in Queensland's Surat Basin. TAG will also receive a 3.0% gross overriding royalty on future production from these permits.

TAG Oil Ltd. (TSXV: TAO, OTCQX: TAOIF) announced significant updates including the resignation of non-executive director Peter Loretto for personal reasons. The current board consists of Executive Chairman Abby Badwi, CEO Toby Pierce, and other directors. Additionally, the company has granted 775,000 stock options to officers and staff at an exercise price of C$0.25 per share, fully vesting on the grant date. This move aims to attract and retain talent while motivating the team to enhance value creation.