TAG Oil Provides Operations Update and Results for 2025 Financial Year End

Vancouver, British Columbia--(Newsfile Corp. - April 30, 2026) - TAG Oil Ltd. (TSXV: TAO) (OTCQB: TAOIF) (FSE: T0P) ("TAG Oil" or the "Company") is pleased to announce the following operations and financial update:

Production from the BED4-T100 ("T100") horizontal well and the BED 1-7 vertical well at the Badr Oil Field ("BED-1") located in the Western Desert of Egypt averaged approximately 80 barrels of oil per day ("bopd") on a combined basis during the fourth quarter of 2025. For the full year ended December 31, 2025, average production was approximately 84 bopd and cumulative production to date from the two wells has exceeded 83,000 barrels (field gross production)⁽¹⁾.

Both the T100 and BED 1-7 wells continue to operate under artificial lift using sucker rod pumping systems and have demonstrated stable production performance. Crude oil deliveries have continued on a regular basis to the Ras Gharib processing facilities. The Company continues to evaluate reservoir performance and optimize production parameters to support future development planning.

TAG Oil is also pleased to report the filing of its financial results for the fiscal year ending December 31, 2025. A copy of TAG Oil's financial statements, and management discussion and analysis for its most recently completed financial year are available on SEDAR+ (www.sedarplus.ca) and on the Company's website (http://www.tagoil.com/).

For the year ended December 31, 2025, the Company generated oil sales of approximately $1.39 million, compared to $0.86 million in 2024, and reported a net loss of $4.8 million (2024: $6.3 million). As at December 31, 2025, the Company had $2.5 million in cash and approximately $1.9 million in working capital.

During the year, TAG Oil advanced its operations in Egypt, including the extension of the evaluation period under the BED-1 petroleum services agreement to October 13, 2028. The extension provides additional time to drill two additional wells and further evaluate the commercial potential of the Abu Roash "F" reservoir. The Company also strengthened its balance sheet during 2025 through the sale of its New Zealand and Australian royalty interests, generating total proceeds of approximately US$3.2 million.

Looking ahead, subsequent to year-end, TAG Oil completed a brokered financing for gross proceeds of $11.5 million in February 2026, significantly enhancing the Company's liquidity position. The proceeds are expected to be used to advance appraisal and development activities at both the BED-1 and Southeast Ras Qattara concessions, including drilling and fracture evaluation programs. The Company continues to evaluate joint venture opportunities and additional strategic acquisitions to support the advancement of its unconventional resource portfolio in Egypt and the broader Middle East and North Africa region.

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