History

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