TAG Oil has provided the following update on drilling progress of the BED4-T100 (“T100”) horizontal well in the Badr Oil Field (“BED-1”) in the Western Desert of Egypt.

Sequel to the Company’s last update on January 3, 2024 Tag-oil-drills-on-bed4-t100-horizontal-well-in-egypt, the Company has since completed re-drilling from the intermediate cased section of the T100 well in BED-1, landing the casing liner in the Abu Roash “F” (“ARF”) carbonate reservoir zone, and reaching a measured depth of 3,238 meters in the ARF.

TAG Oil has now commenced drilling the T100 horizontal pay zone section, which is expected to take up to approximately three weeks to complete the drilling of the planned 1,000-meter horizontal section and run the completion technology.

The drilling rig will then be moved off the wellsite and TAG Oil will immediately proceed with the hydraulic fracture stimulation of the ARF. TAG Oil will continue to provide detailed drilling and completion updates, as necessary.