The Globe and Mail reports in its Wednesday, Feb. 28, edition that Echelon Partners analyst Adam Gill rates TAG Oil "speculative buy" in new coverage. The Globe's David Leeder writes in the Eye On Equities column that Mr. Gill set a share target of $1.10, a nickel above the consensus. While conceding "there have been some challenges on the drilling side," Mr. Gill believes TAG Oil is "currently providing a very attractive risk-reward proposition." Mr. Gill says in a note: "TAG is currently working to unlock new resource potential in Egypt through the novel application of horizontal multi-frac drilling/completion design. The company had a successful vertical well test in 2023 which demonstrated that the concept of fracing the Abu Roash F (ARF)formation works and is currently working on drilling and completing its first horizontal well in the play. ... Given the play's early-stage nature, we are looking at the stock on a risk-reward basis. Based on the geological work undertaken by independent evaluator RPS Energy, it is expected that a horizontal multi-frac well in the ARF could deliver 1,000 to 1,500 barrels per day IP wells and provide recoverable resources of 27 MMBbl over the 20 locations identified."