TAG Oil is a Canadian-based and listed oil and gas exploration company pursuing acquisitions, exploration, and production in the Middle East and North African (MENA) region.
Our forward-looking strategy is to position the Company for significant growth via strategic acquisition, property development, enhanced production methods, and capitalizing on overlooked opportunities. TAG Oil's leadership team has demonstrated success implementing these strategies in the past, and looks to the future to build new, significant shareholder value.
TAG has the first piece of its MENA-based strategic acquisition plan into place with its first petroleum services agreement in the Badr Oil Field (BED-1), Western Desert, Egypt that potentially holds more than 500 million barrels of oil in place, and to date, the ARF zone has never been developed in Egypt.
The Company also continues to receive production royalties in New Zealand, and maintains a solid balance sheet.
TAG Oil Ltd. is a billboard sponsor of Streetwise Reports and paid a fee for this company profile page.
Please refer to the important disclosures below for additional details.
This event follows a month-long delay in drilling due to a mechanical issue and creating a new operational plan, noted a Research Capital Corp. report.
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TAG Oil Ltd. has started drilling the horizontal portion of its first horizontal well in the Badr Oil Field in the Western Desert of Egypt. Find out why one oil executive said horizontal drilling "changed it all."
By drilling this and future wells, the oil and gas firm is "looking to unlock the potential of the Abu Roash F formation," noted a Research Capital Corp. report.
TAG Oil considers its drilling on the Abu Roash F Reservoir to be a success, and is considering the establishment of a second horizontal well. Read on to see the how much TAG has produced.
The stabilized flow rate of this vertical well in Egypt bodes well for imminent testing of the firm's first horizontal well in the same formation, noted a Research Capital Corp. report.
Recently, TAG Oil Ltd. announced the appointment of a new leadership team for its operations in Egypt. Read to see who is on the team, what catalysts the company has, and what two experts have said about Tag.
Tag Oil Ltd. recently announced the successful first oil production in its vertical well, BED 1-7, at the Badr Oil Field (BED-1) in the Western Desert of Egypt. Read more to see what experts are saying and what catalysts are up and coming.
An oil flow rate for this well in Egypt is expected to be announced this June after 30 days of production testing, noted a Research Capital Corp. report.
TAG Oil Ltd. has completed its fracture stimulation to advance its drilling operation on the Abu-Roash Formation. Click here to see how the company plans to prepare for drilling.
The oil and gas company working in Egypt is set to spud T100 in mid-2023 with stabilized flow rates in Q4 of this year, according to a Research Capital report.
Recently, Tag Oil Ltd. announced it has commenced re-completion in the existing vertical well BED 1-7 in its Badr Oil Field in the Western Desert of Egypt. Read to learn what the company has in store for the rest of the year, where the oil market is headed, and what experts are saying about this company.
The oil and gas firm will use these new data, when available, to design a horizontal well in the same Egyptian formation, noted a Research Capital Corp. report.
Recently, TAG Oil Ltd. released a report on Phase 1 of its re-completion and evaluation project for its BED 1-7 vertical well. Read more to learn what its plans are for the rest of 2023 and why two experts listed it as a top pick for the year.
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The transaction yielded for the company $30 million in cash, a production royalty and event-specific revenue.read more >
Expert Comments:
Chen Lin, What Is Chen Buying? What Is Chen Selling?
(11/17/23)
"TAG Oil Ltd. encountered a lot of oil as the company was drilling, just as it expected. Now we hope to get the results by 2023E."
Bill Newman, Research Capital Corporation
(11/15/23)
"TAG Oil Ltd. provided a drilling update on the BED4-T100 (T100) horizontal well in the BED-1 field. . .we are encouraged that the well encountered very good oil shows and good indications of primary porosity while drilling through the first 300m of the Abu Roash F reservoir."
Jon Brown, The Market Herald
(11/9/23)
"Egypt is becoming a major player in the oil game, and TAG Oil Ltd. is in a prime position to capitalize on this potential. . .the company is entering a very active period in the coming months, with its main focus on the T100 well and developing the field more generally."
Christopher Jones, Haywood Securities
(9/28/23)
"TAG Oil Ltd. announced it has commenced drilling the horizontal portion of the BED4-T100 well. . .with a lot of the geological risk removed from the successful vertical re-entry proof-of-concept well completed in the summer, along with good progress of its first horizontal well, we like the risk/reward down at these levels."
Chen Lin, What Is Chen Buying? What Is Chen Selling?
(9/27/23)
"TAG Oil Ltd. came out with good news, that the company finished the vertical part of the drilling and is ready for the horizontal one. We anticipate this drilling to finish in three weeks."
Chen Lin, What Is Chen Buying? What Is Chen Selling?
(9/19/23)
"TAG Oil Ltd. is pursuing land-based, low-capex deals. . .the company is very close to getting the first horizontal fracking [done] in Egypt."
More Expert Comments
Chen Lin, What Is Chen Buying? What Is Chen Selling?
(9/7/23)
"TAG Oil Ltd.'s horizontal well will be drilled in two months. . .the company has 80−100 well locations and is working on more deals."
Christopher Jones, Haywood Securities
(9/1/23)
"TAG Oil Ltd. is guiding the Street to initial production rates of about 2,000 bbl/d on its horizontal wells. . .we know the oil is there, and now it's about fracking and extracting."
Bill Newman, Research Capital Corporation
(8/30/23)
"We believe a stabilized flow rate of over 1 Mbbl/d from TAG Oil Ltd.'s T100 well could be a major near-term catalyst for the stock. With the completion of the financing, the company has additional financial flexibility to accelerate a drilling program at the BED-1 block and also to pursue additional acquisition in Egypt and in the broader Middle East and North Africa region."
Christopher Jones, Haywood Securities
(8/29/23)
"From May 2022–January 2023, TAG Oil Ltd.'s stock had a good run from $0.20/share to $0.79/share ahead of results of the vertical re-entry and a bit of marketing. This performance is more than enough to extrapolate what may happen on the back of a successful horizontal well, and with a lot of the geological risk removed from the successful vertical re-entry, we like the risk/reward down at these levels."
Chen Lin, What Is Chen Buying? What Is Chen Selling?
(8/25/23)
"TAG Oil Ltd. is looking extremely interesting ahead of the coming catalysts. The company already started to drill the first ever horizontal well and will complete it before 2023E, likely October-November. . .I would take a position ahead of the leak and hope for good news."
Chen Lin, What Is Chen Buying? What Is Chen Selling?
(8/16/23)
"I added to my position in TAG Oil Ltd. The weak Chinese data crashed the commodities this week."
Chen Lin, What Is Chen Buying? What Is Chen Selling?
(6/20/23)
"TAG Oil Ltd. just announced the initial results of fracking [the BED 1-7 well; the flow rate] stabilized at 140 bbl/d. This is a good step to support the upcoming drilling of the horizontal well."
Bill Newman, Research Capital Corporation
(6/19/23)
"Over the past two weeks, TAG Oil Ltd.'s BED 1-7 vertical well has produced at a stabilized rate of 140 bbl/d of oil with a 5% water cut; the successful fracture stimulation of the Abu Roash F formation and the production test results are encouraging. The company will apply its learnings to the design of the new BED4-T100 horizontal well which is expected to spud in July."
Chen Lin, What Is Chen Buying? What Is Chen Selling?
(6/8/23)
"TAG Oil Ltd. is waiting for the initial fracking results. Plus, the company has the first ever horizontal well in Egypt coming in a few months."
Chen Lin, What Is Chen Buying? What Is Chen Selling?
(5/16/23)
"I talked to the management of TAG Oil Ltd., and they are excited about the fracking results. . .they are working hard to acquire additional land positions nearby."
Stephane Foucaud, Auctus Advisors
(5/12/23)
"Net cumulative oil produced during the short flowback of TAG Oil Ltd.'s BED 1-7 well was in excess of 500 bbl. According to the company, the production results confirm the economic feasibility of this resource play."
Chen Lin, What Is Chen Buying? What Is Chen Selling?
(5/9/23)
"TAG Oil Ltd. just announced a successful frack operation; initial indications are good, right on target. API is 23, at the high end of the company's expectation of 18–26. . .the next step is the 30-day flowback."
Chen Lin, What Is Chen Buying? What Is Chen Selling?
(4/24/23)
"TAG Oil Ltd. jumped last week after it announced on Twitter it successfully performed a frack; now we just need to wait for the flowback number. I applaud the management for giving the latest update on Twitter, otherwise shareholders would be left in the dark."
Chen Lin, What Is Chen Buying? What Is Chen Selling?
(4/17/23)
"I am waiting for TAG Oil Ltd.'s fracking results; they should come out any day now. Any flow higher than 300 bbl/d is a victory because it is pointing to 3,000+ bbl/d from a 10- to 15-stage horizontal well that the company plans to drill next."
Chen Lin, What Is Chen Buying? What Is Chen Selling?
(4/4/23)
"The oil price jumped to $80 over the weekend, and this is great news for my oil stock, TAG Oil Ltd., which should release very important news on fracking this month. The price jumped immediately after Saudi and Russia, together with the Organization of the Petroleum Exporting Countries, announced 1+ MMbbl production cuts."
Chen Lin, What Is Chen Buying? What Is Chen Selling?
(3/31/23)
"I am focusing on TAG Oil Ltd. as one of my top energy plays. . .the company is finally ready to frack, and the management is extremely confident it will hit. The question is how high the flow will be; we should know in a month."
Bill Newman, Research Capital Corporation
(3/30/23)
"TAG Oil Ltd. provided an update on the recompletion operations on the BED 1-7 vertical well. . .fracture stimulation is expected to commence within weeks with initial flow rates in late April 2023. A strong production test could prove to be a near-term catalyst for the stock."
Chen Lin, What Is Chen Buying? What Is Chen Selling?
(3/8/23)
"TAG Oil Ltd. is fracking right now in Egypt. . .I would just play the risk/reward and hold for the news."
Bill Newman, Research Capital Corporation
(3/1/23)
"TAG Oil Ltd.'s recompletion operations on the BED 1-7 vertical well are underway, with stimulation anticipated to commence next week and with flow test results expected in March 2023; drilling of the first horizontal well in the ARF remains on track for May/June. Initial results from the vertical and horizontal wells testing the ARF reservoir could prove to be a major catalyst for the stock."
Chen Lin, What Is Chen Buying? What Is Chen Selling?
(2/27/23)
"TAG Oil Ltd. is set to frack the pilot well this week. . .the company has equipment on site and plans to connect the oil to pipeline and flow it by mid-March, though it is hoping sooner. . .I would play the odds as most of the risks are taken out by now (recompletion of an old well is not easy) and wait for the results."
Bill Newman, Research Capital Corporation
(1/13/23)
"We expect TAG Oil Ltd. will have a string of event-driven press releases in 2023, which could provide a catalyst for the stock. . .if the company's vertical well re-entry and horizontal well program proves successful, a significant portion of the 2C contingent resource could be converted into Proven and Probable reserves, which could be a major catalyst for the stock."
11/15/2023 – TAG Oil Provides Update on BED4-T100 Well Drilling Operations
9/27/2023 – TAG Oil Commences Drilling the Horizontal Leg of its BED4-T100 Well After Successfully Logging the Vertical Pilot Hole
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