Tag Oil Ltd · TSXV:TAO
Tag Oil — Investor Presentation (December 2022)
17 slides from Tag Oil's investor presentation, December 2022
Slide 1: Egyptian Operator Primed for Growth
Egyptian Operator Primed for Growth TSXV : TAO | OTCQX : TAOIF December 2022 ©2022 TAG OIL Ltd., www.tagoil.com
Slide 2: Forward-Looking Statements and Disclaimer
FORWARD-LOOKING STATEMENTS AND DISCLAIMER TAG Oil Ltd. ("TAG“, “TAG Oil” or the "Company) has adopted the standard of six thousand cubic feet of gas to equal one barrel of oil when converting natural gas to “boe," which may be misleading, particularly if used in isolation. A boe conversion ratio of
Slide 3: Experienced Leadership Team
EXPERIENCED LEADERSHIP TEAM Abby Badwi Gavin Wilson Executive Chairman, BSc Director, BA Proven oil & gas executive with over 45 years of Investment Manager for Meridian Group of experience of delivering outstanding returns for Companies, a private investment Company. Over shareholders 25 years of o
Slide 4: Track Record
TRACK RECORD ! Management has a successful track record of delivering value to shareholders: – TAG Oil (New Zealand and Australia), Toby Pierce as CEO (2015 to present) completed the sale of New Zealand and Australian assets and return of capital to shareholders of $25.6 million in 2020 – Kuwait Ene
Slide 5: Foundation for Growth
FOUNDATION FOR GROWTH ! Working Capital(1) ! Egypt – $9.2 million(1) in cash with no debt – Signed a petroleum services agreement with – $11.4 million(1) in working capital Badr Petroleum Company on October 13, 2022 to develop Abu Roash “F” (“ARF”) formation in the – $25.3 million additional gross p
Slide 6: Capitalization Table; Use of Proceeds from Financing
CAPITALIZATION TABLE USE OF PROCEEDS FROM FINANCING ($C Millions, except per share figures) TSXV: TAO Amount Basic Shares Outstanding(1) 155.0 Operational and Drilling Budget for Fourth Quarter 2022 and 2023 (comprised of well re- $18,500,000 In-The-Money Options(2) 7.5 activations and exploration w
Slide 7: Strategy and Vision
STRATEGY AND VISION ! Driven by strong supply / demand fundamentals, oil prices have increased sharply post pandemic ! Focus on sourcing E&P acquisitions of international opportunities in Egypt and the Middle East / North Africa (MENA) Region ! Acquisition to be funded primarily out of existing cash
Slide 8: Egypt
EGYPT ! Egypt is a democratic republic, its geography, population and history, have made it a highly influential country in the region ! Is the largest Arab country and has played a central role in Middle Eastern politics in modern times ! It has the largest and most diversified economies in the Mid
Slide 9: BED-1 Petroleum Services Agreement
BED-1 PETROLEUM SERVICES AGREEMENT ! Concession term until 2032 with a 10-year extension BED 1-7 Thick 40 meters ! Badr Petroleum Company to pay the Company a service fee as a ARF Formation percentage of gross Production Revenue Entitlement to compensate the Company for assuming 100% of the capital
Slide 10: Egypt Oil & Gas Fields - BED-1
EGYPT OIL & GAS FIELDS - BED-1 ©2022 TAG OIL Ltd., www.tagoil.com 10
Slide 11: BED-1 Development Program Phase 1
BED-1 DEVELOPMENT PROGRAM PHASE 1 First Well Re-Completion: BED 1-7 Vertical Well ! Well previously tested at a peak rate of 418 barrels of 24ᵒ API oil and produced ~20,000 barrels of oil from the ARF during a one-year production period before being suspended. Q4 2023 Q4 2023 Q1 2024 Q2 2024 Q4 2024
Slide 12: Reserves Summary Highlights - BED-1
RESERVES SUMMARY HIGHLIGHTS - BED-1 ! RPS estimates the ARF OIIP P50 Volumes to be 531.5 ! RPS best estimate for Contingent Resources volumes (2C million barrels over the BED-1 concession area and Development Pending) is 27.0 million barrels gross with Mean Volumes to be 536.6 million barrels. The 1
Slide 13: Comparison Summary of BED-1 ARF Egypt and Eagle Ford in Texas
COMPARISON SUMMARY OF BED-1 ARF EGYPT AND EAGLE FORD IN TEXAS Avg Avg Avg Avg Avg Oil Asset Location Formation Age Depth Porosity Avg Perm Lithology Environment Thickness Sw TOC Pressure Temp Quality Organic dolomitic Early Shallow BED-1 Nanodarcy shales with silty Egypt ARF Cretac 10,000' 130-165'
Slide 14: Egypt and Gulf Area Acquisition Opportunities
EGYPT AND GULF AREA ACQUISITION OPPORTUNITIES D E SLI INE R EF ! TAG has been and continues to evaluate new acquisitions and joint venture opportunities in Egypt and the Arabian Gulf area, specifically Bahrain and Oman in order to expand and find the right fit for the Company’s portfolio ©2022 TAG O
Slide 15: Reserves Summary Highlights - New Zealand
RESERVES SUMMARY HIGHLIGHTS - NEW ZEALAND ! TAG continues to receive Royalty Revenue from New Zealand Assets – 2.5% on gross revenue produced from the New Zealand assets – $947,477 royalty payments received in 2022 – Applies to all current and future production ! Independent reserves report associat
Slide 16: Why TAG Oil?
WHY TAG OIL? ! Experienced exploration, development and operations team ! Strategic petroleum services agreement to develop the BED-1 ARF formation in stable, secure country with very good fiscal terms ! Targeting long life production with potential resources upside, with potential of 531.5 mmb OIIP
Slide 17: Chris Beltgens
TSXV : TAO | OTCQX : TAOIF Chris Beltgens VP, Corporate Development chris.beltgens@tagoil.com 1-604-282-6372 Suite 1710, 1050 West Pender Street Vancouver, BC V6E 3S7, Canada www.tagoil.com ©2022 TAG OIL Ltd., www.tagoil.com 17