Mr. Abdel Badwi reports

TAG OIL PROVIDES UPDATE ON DRILLING OPERATIONS AT BED-1 AND SERQ CONCESSIONS

TAG Oil Ltd. has secured a drilling rig for the coming T-200 well at the Badr oil field (BED-1) located in the Western Desert of Egypt. The company anticipates starting drilling operations by the end of June, 2026, subject to receipt of all required regulatory approvals.

The T-200 vertical well is planned to test the Abu Roash F formation in BED-1, a naturally fractured reservoir in the area, where adjacent wells have encountered lighter gravity oil. The well is projected to reach a total depth of 4,250 metres, and is anticipated to require approximately 60 days to drill and complete.

The company has also been advised by the Egyptian National Petroleum for Exploration and Development Company (ENPEDCO) that additional exploration blocks have been included into the southeastern Ras Qattara concession (SERQ), together with amendments to certain economic terms of the current concession agreement. As a result, the preliminary approval of TAG Oil's award has been withdrawn and will be resubmitted following enactment of the new law amending the current concession agreement terms.

TAG Oil's executive chairman and chief executive officer, Abby Badwi, commented: "We are pleased to have secured a rig for the T-200 well at BED-1 and look forward to spudding by the end of June. While the revised process for SERQ impacts timing to start operations, we remain committed to progressing the project and will provide further updates when available."

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.