TAG Oil Awarded a Petroleum Services Agreement for the Development of the Unconventional Abu Roash “F” Reservoir in the Badr Oil Field, Western Desert, Egypt
TAG Oil Ltd. (“TAG Oil” or the “Company”, TSXV: TAO and OTCQX: TAOIF) is pleased to announce that it was formally awarded a petroleum services agreement (the “PSA”) on September 11, 2022 by Badr Petroleum Company (“BPCO”) to develop the unconventional Abu Roash “F” reservoir (“ARF”) in the Badr Oil Field (“BED-1”), a 107 km2 (26,000 acres) concession located in the Western Desert of Egypt. Over the last several months, TAG Oil completed an evaluation of the data package provided by the Egyptian General Petroleum Corporation (“EGPC”) for BED-1. After extensive negotiations with EGPC, the Company submitted its final letter