TAG Oil Announces Volumetric Assessment of Abu Roash "F" Formation in Southeast Ras Qattara Concession

Executive Summary

• TAG Oil announced the results of an independent FracMod assessment estimating 3.2 billion barrels of oil‑in‑place (OIIP) in the Abu Roash “F” (ARF) formation within the SERQ Concession, Egypt.
• The estimate is based on seismic, well and log data from over 20 penetrations, with petrophysical analysis indicating 5‑10 % porosity and 35‑45 m net thickness.
• TAG Oil has secured a petroleum services agreement (announced Oct 31, 2025) that will provide additional seismic and geological data to validate the volumetric model and guide upcoming production testing and fracture design.

Key Details

• Assessment Provider: Fracture Modelling Inc. (FracMod), independent technical consultant; report dated 7 Nov 2024.
• OIIP Estimate: ~3.2 billion barrels of oil in the ARF formation, covering ≈250 km² of the SERQ Concession.
• Data Basis: Seismic and well control data from >20 penetrations; wells targeted lower hydrocarbon zones with several tests and current production.
• Petrophysical Results:
• Porosity: 5‑10 %
• Net thickness: 35‑45 m
• Favorable hydrocarbon indicators throughout the interval.
• Maturity: Early to mid‑mature oil window, suggesting good generation potential.
• Analogous Reservoir: Similar characteristics to the productive ARF reservoir in the Badr Oil Field (BED‑1), though results may differ due to fracture intensity, depth, and completion techniques.
• Next Steps:
• Access additional seismic & geological data via newly approved petroleum services agreement.
• Conduct detailed geochemical and geo‑mechanical studies to validate estimates.
• Plan production tests and hydraulic fracture design to determine optimal recovery methods.
• Management Comment: Abby Badwi, Executive Chairman & CEO, noted encouragement from the FracMod assessment and emphasized that validation work will focus on seismic interpretation and testing to assess economic viability.

Notable Quotes

“We are encouraged that the FracMod assessment supports our technical understanding of the Abu Roash ‘F’ formation. While still at an early stage, the findings highlight the potential for unconventional development at the SERQ Concession.” – Abby Badwi, Executive Chairman & CEO, TAG Oil Ltd.