Mr. Abby Badwi reports

TAG OIL OUTLINES NEXT STEPS FOR T-200 ACID STIMULATION AND PRODUCTION TESTING

TAG Oil Ltd. is providing an update on the completion and production testing of its T-200 vertical well targeting the Abu Roash F (ARF) reservoir at the Badr oil field (BED-1) in Egypt's Western desert, further to the company's Oct. 19, 2026, production testing update.

As previously reported, drilling and log data from T-200 confirmed an oil-bearing ARF reservoir with encouraging porosity and natural fracture development. The well was drilled in a naturally fractured area, identified by seismic data, where existing fractures may provide pathways for hydrocarbon flow. The ARF is a low-permeability carbonate reservoir. However, initial well unloading and testing indicated restricted flow, which may be associated with near-wellbore formation damage from the overbalanced drilling mud system used to maintain safe drilling conditions. This is a common occurrence caused by the invasion of drilling fluids into the formation.

The company's next steps in the testing program will involve an acid wash, and an injectivity test, followed by a high-pressure acid stimulation. This treatment is expected to improve wellbore clean-up and restore communication with the reservoir and its natural fractures to facilitate hydrocarbon flow. The company is currently analyzing ARF drilling cuttings to develop an acid formula tailored to the reservoir's carbonate composition. Acid stimulation is a customary completion practice in carbonate reservoirs and has been required in relevant offset wells before production was established.

Following the treatment, the well will be retested; pressure and production performance will be monitored to establish a stabilized production rate and assess reservoir deliverability. The acid treatment and subsequent testing program are expected to take approximately two weeks.

Abby Badwi, executive chairman and chief executive officer, said: "The drilling and log data from T-200 confirmed an oil-bearing ARF reservoir with encouraging porosity and natural fracture development interpreted in sections within the ARF with higher porosity readings. Acid treatments are a customary completion practice in carbonate reservoirs. Our immediate focus is to complete the planned treatment and retest the vertical well. The results will determine reservoir deliverability and guide the optimal completion approach for the ARF, including the potential follow-up drilling next year of a short, fracture-stimulated horizontal leg."

TAG Oil will provide a further update following completion of the stimulation and testing program.

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.

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