Vancouver, British Columbia–(Newsfile Corp. – December 1, 2025) – TAG Oil Ltd. (TSXV: TAO) (OTCQB: TAOIF) (FSE: T0P) (“TAG Oil” or the “Company”) is pleased to report the filing of its financial results for the interim period ending September 30, 2025. A copy of TAG Oil’s financial statements, and management discussion and analysis for the interim period ending September 30, 2025, are available on SEDAR+ (www.sedarplus.ca) and on the Company’s website (http://www.tagoil.com/).

On September 30, 2025, the Company had C$3.95 million in cash and cash equivalent and C$3.53 million in working capital, compared to June 30, 2025, of C$5.34 million in cash and cash equivalents and C$4.96 million in working capital. The Company has no debt.

During the quarter ending September 30, 2025, production from the Badr Oil Field (“BED-1”) unconventional Abu Roash “F” (“ARF”) wells averaged 87 barrels of oil per day.(1) Crude oil sales delivered for the same period was 70 barrels of oil per day.

TAG Oil continues its efforts to secure an industry partner to accelerate further drilling at the BED-1 field. The Company is also making progress with the Egyptian National Petroleum for Exploration and Development Company regarding the execution of the definitive petroleum services agreement following the recent approval for the development of the unconventional ARF reservoir within the Southeast Ras Qattara concession. The Company will continue to keep shareholders informed as these matters develop.

Corporate Update

The Company is also pleased to announce the appointment of Mr. Doug Urch as Vice President and Chief Financial Officer of TAG Oil, effective January 1, 2026.

Mr. Urch will initially serve as Corporate Finance Manager starting on December 1, 2025, to support a smooth transition before assuming the role as the Company’s Vice President and Chief Financial Officer. He will succeed Mr. Barry MacNeil, whose term as Chief Financial Officer will conclude on December 31, 2025.

Mr. Urch is a Chartered Professional Accountant (CPA) and brings over 25 years of financial and executive experience within the energy sector. His previous senior roles include Executive Vice President and Chief Financial Officer with several E&P companies, including PetroTal Corp. (with operations in Peru), Bankers Petroleum Ltd., and Rally Energy Corp.

TAG Oil’s Executive Chairman and CEO, Abby Badwi, commented, “On behalf of the Company, I would like to thank Barry for his many years of service and wish him every success in his future endeavors. I would also like to welcome Doug to TAG Oil and look forward to working together again following our previous successful collaboration at Bankers Petroleum in Albania and Rally Energy in Egypt.”

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.

For further information:

Abdel (Abby) Badwi, Executive Chairman and CEO
Email: info@tagoil.com
Website: http://www.tagoil.com/
LinkedIn: https://www.linkedin.com/company/tag-oil-ltd
X: https://twitter.com/tagoilltd

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

This release contains certain “forward-looking information” within the meaning of applicable securities laws, including statements related to the Company’s operations, timing of management transitions, and the Company’s business and operational plans. Forward-looking information is based on expectations and assumptions that management believes are reasonable at the time such information is provided; however, forward-looking information is subject to risks and uncertainties that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on forward-looking information because the Company can give no assurance that they will prove to be correct. Except as required by applicable securities laws, the Company does not undertake to update any forward-looking statements, whether as a result of new information, future events, or otherwise.

Exploration for hydrocarbons is a speculative venture necessarily involving substantial risk. The Company’s future success exploiting and increasing its current resource base will depend on its ability to develop its current properties and on its ability to discover and acquire properties or prospects that are capable of commercial production. However, there is no assurance that the Company’s future exploration and development efforts will result in the discovery or development of additional commercial accumulations of oil and natural gas. In addition, even if further hydrocarbons are discovered, the costs of extracting and delivering the hydrocarbons to market and variations in the market price may render uneconomic any discovered deposit. Geological conditions are variable and unpredictable. Even if production is commenced from a well, the quantity of hydrocarbons produced inevitably will decline over time, and production may be adversely affected or may have to be terminated altogether if the Company encounters unforeseen geological conditions. The Company is subject to uncertainties related to the proximity of any resources that it may discover to pipelines and processing facilities. It expects that its operational costs will increase proportionally to the remoteness of, and any restrictions on access to, the properties on which any such resources may be found. Adverse climatic conditions at such properties may also hinder the Company’s ability to carry on exploration or production activities continuously throughout any given year.

References to “oil” in this release include crude oil and field condensate.

(1) Gross (as defined in CSA Staff Notice 51-324 Revised Glossary to NI 51-101 Standards of Disclosure for Oil and Gas Activities) producing day average rates measured in the field prior to adjustment to sales crude oil volumes and crude oil inventory changes.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276544