TAG Oil Announces T-200 Well Reaches Total Depth And Reports Positive Abu Roash 'F' Reservoir Log Results

TAG Oil Ltd. (“TAG Oil” or the “Company”) is pleased to announce that its T-200 exploration well at the Badr Oil Field (“BED-1”) in Egypt’s Western Desert has reached final total depth at 4,160 metres, targeting the Abu Roash “F” (“ARF”) reservoir.

Preliminary interpretation of drilling data, mud logs and wireline logs indicates the presence of an oil-bearing ARF reservoir, with encouraging porosity, hydrocarbon shows and evidence of natural fracture development.

The ARF interval, encountered between 4,102 and 4,160 metres, comprises 58 metres of limestone exhibiting good oil shows. Preliminary log interpretation indicates 14 metres of net oil pay, with average porosity of 8%, reaching up to 10%, and favourable permeability characteristics indicative of natural fractures.

TAG Oil intends to proceed immediately with completion and testing operations, with initial production test results expected later this month.

Abby Badwi, Executive Chairman and CEO, said, “Successful drilling and on-budget operations of T-200 is an important milestone for TAG Oil’s BED-1 development program. The preliminary log and drilling data provide encouraging evidence of an oil-bearing ARF reservoir, including porosity, hydrocarbon shows and natural fracture development. We look forward to completing and testing the well to determine the well’s production potential.”

The Company will report results following completion and testing of the well.

About TAG Oil Ltd.
TAG Oil is a Canadian based international oil and gas exploration company with a focus on operations and opportunities in the Middle East and North Africa.

For more information, visit https://tagoil.com/