TAG Oil Provides Financial Results and Operating Updates for Q2-2025

Executive Summary

• TAG Oil Ltd. filed its financial results for the interim period ending June 30, 2025, reporting an increase in cash reserves and stable working capital compared to the previous quarter.
• The company reported average production of 110 barrels of oil per day from its Badr Oil Field (BED-1) wells during the quarter, with crude oil sales delivered at 91 barrels per day.
• TAG Oil is participating in an open bid for a strategic asset acquisition in Egypt, with the process scheduled to close on September 30, 2025, and is seeking industry partners for further drilling at BED-1.

Key Details

• Financial Position (June 30, 2025):
  • Cash and cash equivalents: C$5.3 million (up from C$3.2 million on March 31, 2025).
  • Working capital: C$4.9 million (down slightly from C$5.0 million on March 31, 2025).
  • Debt: The Company has no debt.
• Operational Performance (Quarter ending June 30, 2025):
  • Badr Oil Field (BED-1) wells produced at an average rate of 110 barrels of oil per day.
  • Crude oil sales delivered averaged 91 barrels of oil per day.
• Strategic Updates:
  • The Company is participating in an open bid for a strategic asset acquisition in Egypt.
  • The bid process is scheduled to close on September 30, 2025.
  • The Company is seeking an Expression of Interest from qualified parties to secure an industry partner to accelerate further drilling at the BED-1 field, with submissions due by September 30, 2025.