Mr. Abdel Badwi reports

TAG OIL SPUDS T-200 WELL AT THE BED-1 CONCESSION IN EGYPT

TAG Oil Ltd. has started drilling operations at its T-200 vertical well at the Badr oil field (BED-1) in Egypt's Western Desert. The well was spudded on Aug. 6, 2026.

The T-200 well is targeting the Abu Roash F formation, a naturally fractured reservoir at this location that the company believes represents a significant unconventional oil opportunity within the BED-1 concession. Located in an area where nearby wells have produced light crude oil from the ARF formation, the T-200 well is designed to further evaluate the productivity and development potential of the reservoir. The well is planned for a total depth of approximately 4,200 metres with drilling and completion operations expected to take approximately 60 days.

Upon successful completion, the well is expected to be brought into production immediately through the company's planned early production facility, allowing TAG Oil to evaluate production rates, reservoir performance and future development potential.

"Spudding the T-200 well is an exciting milestone for TAG Oil as we continue advancing our development strategy in Egypt," said Abby Badwi, executive chairman and chief executive officer. "This well is designed to further evaluate the Abu Roash F formation and, if successful, will provide important production data to support our plans for the broader development of the BED-1 concession."

The company expects to provide updates as drilling progresses, and will report results following completion and testing of the T-200 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.

We seek Safe Harbor.