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TAG Oil Awarded Petroleum Services Agreement for Development of Abu Roash "F" Reservoir in Southeast Ras Qattara Concession
Vancouver, British Columbia--(Newsfile Corp. - October 31, 2025) - TAG Oil Ltd. (TSXV: TAO) (OTCQB: TAOIF) (FSE: T0P) ("TAG Oil" or the "Company") is pleased to announce that it has received approval to enter into a petroleum services agreement (the "PSA") by the Egyptian National Petroleum for Exploration and Development Company ("ENPEDCO") for the development of the unconventional Abu Roash "F" ("ARF") reservoir within the Southeast Ras Qattara concession (the "SERQ Concession") in Egypt's...
About this update from Tag Oil Ltd
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - October 31, 2025) - TAG Oil Ltd. (TSXV: TAO) (OTCQB: TAOIF) (FSE: T0P) ("TAG Oil" or the "Company") is pleased to announce that it has received approval to enter into a petroleum services agreement (the "PSA") by the Egyptian National Petroleum for Exploration and Development Company ("ENPEDCO") for the development of the unconventional Abu Roash "F" ("ARF") reservoir within the Southeast Ras Qattara concession (the "SERQ Concession") in Egypt's Western Desert.","length":586,"tagName":"p"},{"type":"text","content":"This award follows a competitive bidding process initiated by Egypt's Ministry of Petroleum and Mineral Resources through the Egypt Upstream Gateway. The PSA will become effective upon execution of the definitive agreement and the posting of a US$100,000 performance letter of guarantee.","length":291,"tagName":"p"},{"type":"text","content":"About the SERQ Concession","length":25,"tagName":"p"},{"type":"text","content":"The SERQ Concession spans approximately 2,000 km² (512,000 acres) and benefits from extensive existing subsurface data, including full 3D seismic coverage and several existing wellbores. The area has a record of conventional oil production from deeper formations that intersect the ARF reservoir. Conventional production will remain and continue to be developed by ENPEDCO. TAG Oil will have access to several shut-in wells within the concession offering low-cost re-entry opportunities to evaluate the ARF's unconventional potential.","length":538,"tagName":"p"},{"type":"text","content":"TAG Oil has completed detailed technical studies of the ARF reservoir, identifying it as a low-permeability carbonate formation with substantial development potential. The Company believes the reservoir holds a high likelihood of commercial success using proven horizontal drilling and hydraulic fracturing technologies, methods that have already demonstrated positive results in TAG Oil's Badr Oil Field (BED-1) concession in Egypt, as well as in comparable plays such as Canada's Montney formation and the Eagle Ford shale in the United States.","length":554,"tagName":"p"},{"type":"text","content":"To further confirm its development strategy and quantify the ARF's resource potential at the ...