Mr. Abdel Badwi reports

TAG OIL EXTENDS THE EVALUATION PERIOD FOR BED-1 AND PROVIDES CORPORATE UPDATE

TAG Oil Ltd. has reached an agreement with Badr Petroleum Company, holder of the BED-1 concession, to extend the evaluation period under the petroleum service agreement for three years up to Oct. 13, 2028. During the extension period, the company commits to drill two additional wells at BED-1, and, subject to drilling results, TAG Oil may elect to proceed with full-scale commercial development of the Abu Roash F reservoir.

The company also announces that it has entered into amendments to the employment agreement of its vice-president and chief operating officer, Suneel Gupta. The amendments provide that Mr. Gupta will continue in his current role until Dec. 31, 2025, subject to extension by mutual agreement.

Abby Badwi, TAG's executive chairman and chief executive officer, commented: "We welcome the extension of the evaluation phase, allowing for additional drilling and comprehensive monitoring of multiple wells to better understand the potential of this strategic resource play. The recently announced Southeast Ras Qattara acquisition further strengthens our position and supports the continued expansion of landholdings and our operations in Egypt. We appreciate Mr. Gupta's continued involvement with the company."

About TAG Oil Ltd.

TAG Oil is a Canadian-based international oil and gas exploration company with a focus on operations and opportunities in the Middle East and North Africa.

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