TAG Oil Announces $5 Million Brokered LIFE Offering to Advance Unconventional Development Activities on its Large Oil-In-Place Resource Play at BED-1 and SERQ Concessions, Egypt

Executive Summary

• TAG Oil Ltd. announced a brokered, best‑efforts private placement of up to $5 million in Units at $0.10 per Unit.
• Each Unit consists of one common share and one warrant (exercise price $0.13, 48‑month term); agents may increase the size by an additional 15 % via an option.
• Net proceeds will fund appraisal and development work on the Badr Oil Field (BED‑1) and Southeast Ras Qattara (SERQ) concessions in Egypt, including drilling a new vertical delineation well and a DFIT program.

Key Details

• Offering Structure:
• Units = 1 common share + 1 Common Share purchase warrant.
• Issue Price: $0.10 per Unit.
• Gross proceeds target: up to $5,000,000.

• Agents’ Option: increase size by up to 15 % of units sold, exercisable up to two business days before closing.

• Warrant Terms:

• Exercise price $0.13 per common share.

• Valid for 48 months after the Closing.

• Broker Compensation:

• Cash commission equal to 8.0 % of aggregate gross proceeds.

• Broker Warrants equal to 8.0 % of units sold (subject to reduction for certain president’s‑list purchasers).

• Use of Proceeds:

• Advance appraisal and development at BED‑1 and SERQ concessions in Egypt.

• Specific activities:

  • Drill a new vertical delineation well in the ARF resource play at BED‑1 targeting lighter‑gravity crude.
  • Perform a Diagnostic Fracture Injectivity Test (DFIT) in an existing wellbore at SERQ to evaluate ARF potential.

• Resource Highlights:

• Independent engineers estimate 532 million barrels OIIP for the ARF within BED‑1.

• Volumetric assessment estimates ≈3.2 billion barrels OIIP across 512,000 acres of SERQ; NI 51‑101 resource report expected Q1 2026.

• Closing Timeline:

• Expected closing week of February 16, 2026, subject to regulatory approvals (including conditional TSX Venture Exchange approval).

• Regulatory Framework:

• Offering made under the listed issuer financing exemption (NI 45‑106 Part 5A) in all Canadian provinces except Quebec and other qualifying jurisdictions.
• Units will be “free‑trading” immediately upon closing.

Notable Quotes

(No direct quotes were provided in the release.)