Mr. Abdel Badwi reports

TAG OIL PRODUCTION TEST UPDATE

TAG Oil Ltd. has provided an update on the production testing of its T-200 vertical well at the Badr oil field (BED-1) in Egypt's Western Desert.

The T-200 well was drilled and completed on budget to a total depth of 4,160 metres, targeting the Abu Roash F reservoir. The company began well unloading operations, using nitrogen lifting through coiled tubing to displace the brine in the production tubing. Over the past 48-hour period, no formation oil had reached surface by the end of the operation, suggesting restricted flow potentially associated with near-wellbore formation damage or reservoir skin.

The well was shut in for the drilling rig to be released from the location. Upon release, an acid stimulation treatment, a primary method in carbonate reservoirs to improve wellbore cleanup and restore formation flow capacity, will be undertaken. After the acid operation, the well will be retested, and the company will continue to monitor performance and evaluate pressure and decline behaviour to determine the well's stabilized production rate.

TAG Oil will be providing a further update along with third quarter 2026 operating and financial results on Nov. 25, 2026.

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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