April 1, 2023

Oil and Gas Firm TAG Oil Ltd. to Design Horizontal Well in Egypt’s Abu Roash “F” Reservoir

TAG Oil Ltd. (TAO:TSX.V; TAOIF:OTCQX) has announced that it will use data from vertical well test results to design a horizontal well in Egypt’s Abu Roash “F” reservoir. The Canadian energy company has been working on the Badr Oil Field (BED-1) in the region and has started recompletion of the BED 1-7 vertical well. The company is preparing to stimulate the well next week and expects to receive results of subsequent flow testing sometime this month.

Research Capital Corp. analyst Bill Newman noted in a March 1 research note that TAG Oil Ltd. will use the data from the vertical well test results to design its first horizontal well targeting the ARF formation. The company is expected to release more information on the results of the vertical well test in the coming weeks.

TAG Oil Ltd. has been working to expand its operations in Egypt and has been exploring opportunities in the region’s oil and gas industry. The company’s efforts in the Badr Oil Field are part of its larger strategy to increase production and revenue in the region.

Investors and industry analysts will be closely watching the results of the vertical well test and subsequent flow testing, as they will provide important insights into the potential of the Abu Roash “F” reservoir. TAG Oil Ltd.’s plans to design a horizontal well based on this data could also have significant implications for the company’s future operations in the region.

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