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TAG Oil Commences Drilling of First Horizontal Well in the Abu-Roash "F" Development in the Badr Oil Field

Newswire.ca - Tue Aug 22, 2023

/NOT FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, BC, Aug. 22, 2023 /CNW/ - TAG Oil Ltd. (TSXV: TAO) and (OTCQX: TAOIF) ("TAG Oil" or the "Company") is pleased to announce that the first horizontal well, BED4-T100 ("T100") in the Badr Oil Field ("BED-1") in the Western Desert of Egypt, has commenced drilling and is currently through a depth of 600 meters. The well will target oil in the Abu-Roash "F" ("ARF") unconventional tight, carbonate reservoir at projected depth total vertical depth of 3,300 meters. The decision to spud the T100 well is the result of careful planning and comprehensive geological and geophysical studies conducted by TAG Oil's experienced unconventional development team. The Company anticipates that the T100 well will be completed by calendar Q4 2023, and detailed drilling and completion updates will be provided in due course.

Read more at newswire.ca

Provided Content: Content provided by Newswire.ca. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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