Skip links


2023: Gaining Traction and Aspiring to New Heights

  • Initiated Drilling of First Horizontal Well in the Abu-Roash “F” Development within the Badr Oil Field
  • Successful Completion of a $10 Million Bought-Deal Public Offering, Which Was Subsequently Upsized and Closed at $12.7 Million
  • Achieved First Oil Production from Vertical Well BED1-7 in the Badr Oil Field, Western Desert, Egypt
  • Earns Recognition on the 2023 TSX Venture 50 List
  • Commenced Re-completion and Evaluation Operations for Vertical Well BED 1-7

2022: Power of Progress

  • TAG Oil Awarded Petroleum Services Agreement for Unconventional Abu Roash “F” Reservoir Development in Western Desert, Egypt
  • RPS estimates 531.5 million barrels (P50) of OIIP in BED-1 concession.
  • Successful completion of underwritten public offering raising $25.3 million in gross proceeds
  • TAG Oil selects BED 1-7 vertical well for first re-Completion and evaluation operations in BED-1.

2021: Laying the Groundwork

  • TAG submits firm offer for BED-1 project in the Western Desert, Egypt
  • TAG continues to explore other opportunities in Egypt and Middle East 
  • Oil prices continue to rise as oil demand rebounds
  • The Company remains financially strong with no debt

2020: New Opportunities Ahead

  • TAG embarks on a strategic initiative to acquire oil and gas assets in the Middle East and North Africa region
  • Additional leadership team with proven track record join TAG including Chairman Abby Badwi
  • TAG completes a return of capital to shareholders in the amount of C$0.30 per common share
  • Continued weak oil markets provide rare opportunities

2019: Forging On

  • Closing of New Zealand asset sale leaves TAG financially strong
  • TAG continues to operate in Queensland, Australia and explore potential farm out opportunities
  • Investment Manager, Gavin Wilson joins the board of directors

2018: Passing The Torch

  • TAG initiates sale of New Zealand assets and operations
  • Revenue growth continues quarter over quarter
  • 23% increase in operating netbacks

2017: Staying Ahead Of The Curve

  • ERC Equipoise assigns net present value of C$82.12 million on proven and probable reserves
  • Field optimizations at Cheal helps stabilize production
  • Dividend paid by way of Coronado shares
  • Industry downturn persists but oil pricing on the rise

2016: Setting The Stage

  • Encouragement at Cardiff-3 well
  • New oil leg discovered at Sidewinder
  • More distressed asset acquisitions
  • Barry MacNeil appointed CFO
  • Low oil prices persist

2015: Holding Steady Through Challenging Times

  • Finished the year in strong financial position
  • New CEO Toby Pierce appointed
  • CAPEX slashed in response to falling global oil prices
  • TAG focuses on low-risk, low-capital, incremental production increases to maintain profitability

2014: Operating To Plan — And Growing

  • Fiscal year ends with record revenue
  • First stimulation attempt on Cardiff-3 flows gas/condensates 
  • East Coast Basin Waitangi Valley-1 unconventional exploration drilling attempt completed
  • C$60 million CAPEX program announced funded through forecasted cash flow and working capital

2013: Optimized And Operating At Full Force

  • TAG Oil launches largest drilling campaign in New Zealand history
  • Production revenue hits $44.5 million for fiscal year
  • Ngapaeruru-1 unconventional well intersects hydrocarbon column in Whangai source rock
  • $40 million infrastructure expansion completed to facilitate production growth
  • Drilling continues in Taranaki

2012: Momentum Building & Setting Higher Goals

  • Successful drilling continues
  • National Bank Financial and Credit Suisse brings analyst coverage to nine
  • Company sees a 227% increase in production revenue, 300% increase in reserves
  • Cheal B-7 becomes TAG’s 14th consecutive successful oil and gas well drilled

2011: Success And More Corporate Milestones

  • TAG graduates from TSX-V to the Toronto Stock Exchange (TSX)
  • 100% increase in production revenue
  • Trading begins on OTCQX International in the U.S.
  • New oil/gas discoveries at Cheal and Sidewinder
  • Mandate to build production and reserve growth

2010: Transformation

  • TAG flows oil from bypassed Urenui discovery
  • Cardiff gas/condensate discovery acquired
  • Sidewinder-1 oil/gas discovery
  • 450% increase to reserves at Cheal field
  • Shallow drilling validates East Coast Basin unconventional oil prospects

2009: Paving The Way

  • TAG acquires Trans-Orient Petroleum, and unconventional prospects
  • Cash flow increases by approximately 300%
  • TAG acquires 100% of Cheal oil & gas field
  • TAG sees opportunity in financial crisis