Northwire Canada EditionSaturday, July 11, 2026
Sign inSubscribe
Northwire
⌕
GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0%
Production / Operations Routine +

TAG Oil Provides Operations Update and Results for 2025 Financial Year End

TAG Oil Reports FY25 Loss Reduction and Secures Funding Amidst Egypt Exploration

By The Northwire Desk — AI Analysis Apr 30, 2026 · 09:01 TAO · 0.085 TAG Oil Ltd.
Executive Summary
  • TAG Oil provided operations update and financial results for the 2025 Financial Year End dated April 30, 2026.
  • Average production for full year 2025 was approximately 84 barrels of oil per day (bopd) from BED4-T100 and BED 1-7 wells in Egypt.
  • Oil sales increased to $1.39 million for FY 2025, up from $0.86 million in 2024.
  • Net losses reduced to $4.8 million for FY 2025, compared to $6.3 million in 2024.
  • Cash position as of December 31, 2025 was $2.5 million with working capital of approximately $1.9 million.
  • A brokered financing of $11.5 million was completed in February 2026 to fund appraisal and development activities.
  • The BED-1 petroleum services agreement evaluation period extended to October 13, 2028, allowing for two additional wells.
  • Approximately US$3.2 million generated in 2025 from the sale of New Zealand and Australian royalty interests.
Material Impact
  • The news confirms the successful completion of the $11.5 million financing announced in February 2026, removing immediate liquidity risk for 2026 operations.
  • Reduction in net loss ($4.8M vs $6.3M) and increase in sales revenue indicate operational efficiency improvements but do not signal profitability.
  • Production levels remain low (84 bopd), which is consistent with the pilot phase nature of the Abu Roash "F" unconventional play; this does not materially alter valuation expectations given prior volumetric estimates.
  • The extension of the BED-1 agreement to 2028 provides long-term optionality but requires capital expenditure that has already been funded by the February offering.
  • As the financing was announced and closed in February, the April financial update is largely a confirmation of previously disclosed terms rather than new market-moving information.
TAO · Price
Company Overview
  • TAG Oil Ltd. is an exploration company focused on unconventional oil resources in Egypt's Western Desert.
  • Flagship Project: The Badr Oil Field (BED-1) concession targeting the Abu Roash "F" (ARF) formation, characterized as a naturally fractured carbonate reservoir with high-quality light oil (~42° API).
  • Secondary Concession: Southeast Ras Qattara (SERQ), covering 512,000 acres with an independent volumetric assessment estimating ~3.2 billion barrels of Oil-In-Place (OIIP) in the ARF formation.
  • Technology: Utilizes horizontal drilling and hydraulic fracturing techniques similar to North American unconventional plays like Montney and Eagle Ford.
Read the original news release →

More from TAG Oil Ltd.

Jun 16, 2026 · 09:01

TAG Oil Advances BED-1 Drilling Plan Amidst SERQ Regulatory Delays

Drill Results May 29, 2026 · 09:01

TAG Oil Secures Cash Runway, Production Holds Steady Amidst SERQ Regulatory Delays

Earnings May 14, 2026 · 09:01

TAG Oil Lines Up Rig for BED-1, but SERQ Regulatory Snag Puts Brakes on Egypt Unconventional Vision

Production / Operations Apr 13, 2026 · 09:01

TAG Oil Confirms Funding but Production Slips as Egypt Drilling Plans Advance

Drill Results Feb 19, 2026 · 04:36

TAG Oil closes $11.5-million offering

Financings Feb 18, 2026 · 14:03

TAG Oil Announces Closing of $11.5 Million Offering, Including Full Exercise of the Over-Allotment Option, to Advance Unconventional Development Activities on Its Large Oil-In-Place Resource Play at BED-1 and SERQ Concessions, Egypt

Financings