TAG Oil Reports Q2 2024 Results

News provided by

Nov 29, 2023, 16:00 ET

VANCOUVER, BC, Nov. 29, 2023 /PRNewswire/ - TAG Oil Ltd. (TSXV: TAO) (OTCQX: TAOIF) ("TAG Oil" or the "Company") is pleased to report the filing of its financial results for the interim period ending September 30, 2023. A copy of TAG Oil's financial statements and management discussion and analysis for the interim period ending September 30, 2023 are available on SEDAR+ (www.sedarplus.ca) and on the Company's website at www.tagoil.com.

Highlights over the period include that the Company had C$23.0 million (June 30, 2023: C$15.5 million) in cash and cash equivalents and C$24.7 million (June 30, 2023: C$17.9 million) in working capital and has no debt. During the period, TAG Oil also closed its upsized C$12.3 million bought-deal public offering and continues to manage its costs and allocate the necessary resources towards its operations and business development efforts in Egypt and the broader Middle East and North Africa region.

Drilling operations at the Badr Oil Field in the Western Desert of Egypt of TAG Oil's first horizontal well, BED4-T100, are progressing. The Company will provide detailed drilling and completion updates in due course.

About TAG Oil Ltd.

TAG Oil (http://www.tagoil.com/) is a Canadian based international oil and gas exploration company with a focus on operations and opportunities in the Middle East and North Africa.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of TAG Oil. All estimates and statements that describe the Company's operations are forward-looking statements under applicable securities laws and necessarily involve risks and uncertainties. Actual results may vary materially from the information provided in this release, and there is no representation by TAG Oil that the actual results realized in the future will be the same in whole or in part as those presented herein. TAG Oil undertakes no obligation, except as otherwise required by law, to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors change.

SOURCE TAG Oil Ltd.