Tag Oil Ltd · TSXV:TAO
Tag Oil — Investor Presentation (October 2023)
17 slides from Tag Oil's investor presentation, October 2023
Slide 1: Egyptian Operator Primed for Growth
Egyptian Operator Primed for Growth TSXV : TAO | OTCQX : TAOIF October 2023 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 Exploration for hydrocarbons is a speculative venture necessarily involving substantial risk.
Slide 3: Corporate Profile
CORPORATE PROFILE ▪ Canadian International E&P Company listed on TSX-V under the symbol TAO, and on OTCQX under the symbol TAOIF ▪ Focused on oil and gas exploration and development opportunities in Middle East and North Africa (“MENA”) region ▪ Basic shares o/s 184.2 million(1) ▪ Options o/s 11.5 m
Slide 4: Board of Directors - Executive and Independent
BOARD OF DIRECTORS - EXECUTIVE AND INDEPENDENT Abdel (Abby) Badwi Gavin Wilson Executive Chairman and Director, BSc Non-Executive Director, BA Proven oil & gas executive with over 45 Investment Manager for Meridian Group of years of experience of delivering Companies, a private investment outstandin
Slide 5: Experienced Leadership Team - Operations and Finance
EXPERIENCED LEADERSHIP TEAM - OPERATIONS AND FINANCE Suneel Gupta Gamal Rezk VP & Chief Operating Officer, BSc, VP & General Manager, Egypt MSc 24 years of oil & gas experience working with Senior executive in the international oil & international energy companies with head- gas industry with over 3
Slide 6: Foundation for Growth
FOUNDATION FOR GROWTH ▪ Working Capital(1) ▪ New Focus – $15.5 million(1) in cash with no debt – Following return of capital to shareholders – $17.9 million(1) in working capital and retaining a strong balance sheet in 2019, ▪ Equity Financing TAG Oil embarks on a strategic initiative in – Completed
Slide 7: 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 8: Egypt
EGYPT ▪ Egypt is a democratic republic, its geography, population and history, have made it a highly influential country in the region ▪ 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 Middle
Slide 9: Egypt Oil & Gas Fields - BED-1
EGYPT OIL & GAS FIELDS - BED-1 ▪ Signed a Petroleum Services Agreement with Badr Petroleum Company (“BPCO”), a wholly owned subsidiary of EGPC, on October 13, 2022, to develop Abu Roash “F” (“ARF”) formation in BED-1, a 107 km2 (26,000 acres) concession located in the Western Desert, Egypt TAG OIL L
Slide 10: BED-1 Petroleum Services Agreement
BED-1 PETROLEUM SERVICES AGREEMENT ▪ Concession History: BED-1 concession was previously held by Shell and produced more that 90 million bbl(1) of light oil from formations below the ARF. Shell surrendered BED-1 in 2012 and the field has since been operated by BPCO, a wholly owned subsidiary of EGPC
Slide 11: Comparison Summary of BED-1 ARF Egypt and Eagle Ford in Texas
COMPARISON SUMMARY OF BED-1 ARF EGYPT AND EAGLE FORD IN TEXAS (1) 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' 130-1
Slide 12: BED-1 Concession - Phase 1 Development Wells
BED-1 CONCESSION – PHASE 1 DEVELOPMENT WELLS ▪ BED 1-7 Vertical Recompletion was completed in May 2023 ▪ BED4-T100 Horizontal Well drilling commenced in August 2023, anticipate results in Q4 2023 ▪ 3 to 4 Horizontal Well locations planned for 2024 drilling program TAG OIL Ltd., www.tagoil.com 12
Slide 13: BED 1-7 Re-Entry - Proof of Concept
BED 1-7 RE-ENTRY – PROOF OF CONCEPT BED 1-7 Thick 40 meters ▪ Successful re-entry of an existing vertical well ARF Formation ▪ First step to establish oil production from the ARF formation ▪ Perforated and conducted Diagnostic Fracture Injectivity Test (DFIT) of the ARF ▪ Conducted a single fracture
Slide 14: BED4-T100 Horizontal Well Location
BED4-T100 HORIZONTAL WELL LOCATION ▪ Located adjacent to wells BED 4-2 (75,500 bbl (1)) and BED 4-3Hz (74,000 bbl (1)) that produced oil from ARF natural fractures, but the wells stopped producing after depleting primary fractures ▪ Spud in August 2023, and commenced drilling horizontal portion of w
Slide 15: Reserves Summary Highlights - BED-1
RESERVES SUMMARY HIGHLIGHTS - BED-1 ▪ RPS estimates the ARF OIIP P50 Volumes to be 531.5 ▪ RPS estimate for Contingent Resources (2C million barrels over the BED-1 concession area. The Development Pending) net present value discounted discovered OIIP in the ARF is imaged by 3D seismic at 10% and ass
Slide 16: Egypt and Broader MENA Region Acquisition Opportunities
EGYPT AND BROADER MENA REGION ACQUISITION OPPORTUNITIES TAG Oil continues to evaluate new acquisitions and joint venture opportunities primarily in Egypt and the broader MENA region, with the aim of expanding and identifying suitable additions to the Company's portfolio. TAG OIL Ltd., www.tagoil.com
Slide 17: Contact
TSXV : TAO | OTCQX : TAOIF info@tagoil.com 1-604-682-6496 Suite 1710, 1050 West Pender Street Vancouver, BC V6E 3S7, Canada www.tagoil.com TAG OIL Ltd., www.tagoil.com 17