History

2026: Forging On

• Complete $11.5 million equity financing
• Finalize SERQ Petroleum Services Agreement (PSA) and initiate resource report
• Start drilling plans and testing at BED and SERQ concessions

2025: Restructure Leadership and SERQ Concession

• Abby Badwi takes on the role of Chief Executive Officer
• Reduce general and administrative costs
• Strengthen technical and operating team in Cairo
• Doug Urch appointed as Vice-President and Chief Financial Officer
• Awarded Southeast Ras Qattara (SERQ) concession

2022-2024: Operational Progress and Strategic Advancement

• Re-enter BED-1 vertical well to appraise the Abu Roash “F” reservoir. Tested 140 bbl/d
• Complete drilling and and multi-stage fracture stimulation of the horizontal BED4-T100 well
• Strengthen financial position with the closing of $12.7 million and $6.8 million public offerings to advance development activities
• Completed sale of New Zealand and Australia royalty interest

2020-2021: New Focus

• Following the TAG Oil New Zealand asset sale, the Company embarks on a strategic initiative to acquire oil and gas assets in the Middle East and North Africa region
• Abby Badwi joins TAG Oil as Executive Chairman