TAG Oil Ltd. V.TAO

Alternate Symbol(s): TAOIF

Energy Oil & Gas E&P

TAG Oil Ltd. is an international oil and gas exploration company with a focus on operations and opportunities in the Middle East and North Africa. It holds an interest in the Badr Oil Field (BED-1), a 26,000-acre concession located in the Western Desert, Egypt, through a production services agreement (the PSA) with Badr Petroleum Company (BPCO). It is focused on BED-1 the re-completion and evaluation operations of the BED 1-7 vertical well. These initial operations are part of its phase I development program of Abu Roash F (ARF) reservoir in BED-1. The BED 1-7 well started oil production from the ARF reservoir. Its Field Development Plan (FDP), consisting of drilling 20 horizontal wells to be completed with multi-stage fracture stimulation, is focused on the east central part of the BED-1 concession area and contains OIIP P50 volumes of 178.3 million barrels and mean volumes of 179.0 million barrels. Its subsidiaries include TAG Energy International Ltd., CX Oil Limited, and others.

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TAG Oil Ltd. > Very Nice... :)

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Comment by Nextlegupon Jun 19, 2023 10:59am

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Post# 35503325

RE:RE:Very Nice... :)

GnR...

I'm guessing a few people in the market are thinking similar to yourself, and unfortunately, missing the point.

This "vertical" well is merely a "Proof of Concept" of using Western Frac technology to see how well the technology would work in Egypt.

This was not intended to be some big "Boomer".

When the next well is drilled in late July, the intention is to drill a "horizontal" well, perforated into a much longer tube with 15-20 fracs targeting what should be a 10-fold increase in production.

Those misunderstanding the story and selling between now and then will then realize their mistake IMO.

GLTA

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