TAG Oil Ltd. reported its Q1-2025 financial results, highlighting a stable financial position with C$3.2 million in cash and cash equivalents and $5.0 million in working capital as of March 31, 2025, maintaining the same working capital level from December 31, 2024, despite a decrease in cash position from $6.6 million. The company remains debt-free. Operationally, the Badr Oil Field (BED-1) wells achieved an average production of 130 barrels of oil per day, with crude oil sales averaging 142 barrels daily. The wells underwent temporary shutdown for reservoir pressure build-up testing, showing minimal depletion, while facility improvements were completed to enhance oil handling capabilities. TAG Oil is progressing towards finalizing a strategic asset acquisition in Egypt and seeking partnership for expanded drilling operations at BED-1.
TAG Oil Ltd. ha comunicato i risultati finanziari del primo trimestre 2025, evidenziando una posizione finanziaria stabile con 3,2 milioni di dollari canadesi in liquidit脿 e mezzi equivalenti e 5,0 milioni di capitale circolante al 31 marzo 2025, mantenendo lo stesso livello di capitale circolante del 31 dicembre 2024, nonostante una diminuzione della liquidit脿 da 6,6 milioni. L'azienda resta senza debiti. Dal punto di vista operativo, i pozzi del giacimento petrolifero Badr (BED-1) hanno raggiunto una produzione media di 130 barili di petrolio al giorno, con vendite di greggio che hanno mediamente toccato 142 barili giornalieri. I pozzi sono stati temporaneamente chiusi per test di incremento della pressione nel serbatoio, mostrando un esaurimento minimo, mentre sono stati completati miglioramenti alle strutture per potenziare la gestione del petrolio. TAG Oil sta avanzando verso la finalizzazione di un'acquisizione strategica di asset in Egitto e cerca partnership per ampliare le operazioni di perforazione a BED-1.
TAG Oil Ltd. inform贸 sus resultados financieros del primer trimestre de 2025, destacando una posici贸n financiera estable con 3,2 millones de d贸lares canadienses en efectivo y equivalentes, y 5,0 millones en capital de trabajo al 31 de marzo de 2025, manteniendo el mismo nivel de capital de trabajo que al 31 de diciembre de 2024, a pesar de una disminuci贸n en el efectivo desde 6,6 millones. La compa帽铆a sigue sin deudas. Operativamente, los pozos del campo petrolero Badr (BED-1) lograron una producci贸n media de 130 barriles de petr贸leo por d铆a, con ventas de crudo que promediaron 142 barriles diarios. Los pozos fueron temporalmente cerrados para pruebas de aumento de presi贸n en el yacimiento, mostrando una m铆nima disminuci贸n, mientras se completaron mejoras en las instalaciones para mejorar la capacidad de manejo del petr贸leo. TAG Oil avanza hacia la finalizaci贸n de una adquisici贸n estrat茅gica de activos en Egipto y busca socios para expandir las operaciones de perforaci贸n en BED-1.
TAG Oil Ltd. a publi茅 ses r茅sultats financiers du premier trimestre 2025, mettant en avant une position financi猫re stable avec 3,2 millions de dollars canadiens en liquidit茅s et 茅quivalents, ainsi que 5,0 millions de fonds de roulement au 31 mars 2025, maintenant le m锚me niveau de fonds de roulement qu'au 31 d茅cembre 2024, malgr茅 une baisse de la tr茅sorerie de 6,6 millions. La soci茅t茅 reste sans dettes. Sur le plan op茅rationnel, les puits du champ p茅trolier Badr (BED-1) ont atteint une production moyenne de 130 barils de p茅trole par jour, avec des ventes de brut moyennes de 142 barils quotidiens. Les puits ont 茅t茅 temporairement arr锚t茅s pour des tests de reconstitution de la pression du r茅servoir, montrant une d茅pl茅tion minimale, tandis que des am茅liorations des installations ont 茅t茅 r茅alis茅es pour renforcer les capacit茅s de traitement du p茅trole. TAG Oil progresse vers la finalisation d'une acquisition strat茅gique d'actifs en 脡gypte et recherche des partenariats pour 茅tendre les op茅rations de forage 脿 BED-1.
TAG Oil Ltd. meldete die Finanzergebnisse f眉r das erste Quartal 2025 und hob eine stabile finanzielle Lage hervor, mit 3,2 Millionen kanadischen Dollar an liquiden Mitteln und Zahlungsmitteln sowie 5,0 Millionen an Working Capital zum 31. M盲rz 2025. Das Working Capital wurde damit auf dem Niveau vom 31. Dezember 2024 gehalten, trotz eines R眉ckgangs der liquiden Mittel von 6,6 Millionen. Das Unternehmen bleibt schuldenfrei. Operativ erzielten die Bohrungen im Badr-脰lfeld (BED-1) eine durchschnittliche Produktion von 130 Barrel 脰l pro Tag, mit einem durchschnittlichen Verkauf von 142 Barrel Roh枚l t盲glich. Die Bohrungen wurden vor眉bergehend f眉r Druckaufbau-Tests im Reservoir abgeschaltet, die eine minimale Ersch枚pfung zeigten, w盲hrend Verbesserungen an den Anlagen zur Optimierung der 脰lhandhabung abgeschlossen wurden. TAG Oil arbeitet an der Finalisierung einer strategischen Akquisition von Verm枚genswerten in 脛gypten und sucht Partnerschaften zur Erweiterung der Bohraktivit盲ten bei BED-1.
Positive
Debt-free financial position with $5.0 million in working capital
Stable production from BED-1 wells averaging 130 barrels of oil per day
Reservoir pressure tests showed minimal depletion, indicating good well performance
Completed facility improvements for better oil handling and treatment
Negative
Cash position decreased from C$6.6 million to C$3.2 million quarter-over-quarter
Wells required temporary shutdown during the quarter
Strategic acquisition and partnership deals still pending completion
Vancouver, British Columbia--(Newsfile Corp. - May 30, 2025) - TAG Oil Ltd. (TSXV: TAO) (OTCQX: TAOIF) (FSE: T0P) ("TAG Oil" or the "Company") is pleased to report the filing of its financial results for the interim period ending March 31, 2025. A copy of TAG Oil's financial statements, and management discussion and analysis for the interim period ending March 31, 2025, are available on SEDAR+ () and on the Company's website ().
On March 31, 2025, the Company had C$3.2 million in cash and cash equivalent and $5.0 million in working capital, compared to December 31, 2024, of $6.6 million in cash and cash equivalents and $5.0 million in working capital. The Company has no debt.
During the quarter ending March 31, 2025, both Badr Oil Field ("BED-1") wells produced at an average 130 barrels of oil per day.1 Crude oil sales delivered for the same period was 142 barrels of oil per day. In the latter half of the quarter, the wells were temporarily shut-in for reservoir pressure build-up, which indicated minimal depletion. In addition, construction improvements were completed on both well-site early production facilities for improved handling and treatment of the medium grade Abu Roash "F" crude oil.
TAG Oil continues progress towards closing the strategic asset acquisition in Egypt and securing a partner to accelerate further drilling across the BED-1 field. The Company will continue to keep shareholders informed as these matters develop.
About TAG Oil Ltd.
TAG Oil () is a Canadian based international oil and gas exploration company with a focus on operations and opportunities in the Middle East and North Africa.
For further information:
Abdel (Abby) Badwi, Executive Chairman and CEO Email: [email protected] Website: LinkedIn: X:
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements contained in this release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of TAG Oil. All estimates and statements that describe the Company's operations are forward-looking statements under applicable securities laws and necessarily involve risks and uncertainties. Actual results may vary materially from the information provided in this release, and there is no representation by TAG Oil that the actual results realized in the future will be the same in whole or in part as those presented herein. TAG Oil undertakes no obligation, except as otherwise required by law, to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors change. The Company shall not be liable or responsible for any claim or damage, direct or indirect, special or consequential, incurred by the user arising out of the interpretation, reliance upon or other use of the information contained in the pages of this release.
Exploration for hydrocarbons is a speculative venture necessarily involving substantial risk. The Company's future success exploiting and increasing its current resource base will depend on its ability to develop its current properties and on its ability to discover and acquire properties or prospects that are capable of commercial production. However, there is no assurance that the Company's future exploration and development efforts will result in the discovery or development of additional commercial accumulations of oil and natural gas. In addition, even if further hydrocarbons are discovered, the costs of extracting and delivering the hydrocarbons to market and variations in the market price may render uneconomic any discovered deposit. Geological conditions are variable and unpredictable. Even if production is commenced from a well, the quantity of hydrocarbons produced inevitably will decline over time, and production may be adversely affected or may have to be terminated altogether if the Company encounters unforeseen geological conditions. The Company is subject to uncertainties related to the proximity of any resources that it may discover to pipelines and processing facilities. It expects that its operational costs will increase proportionally to the remoteness of, and any restrictions on access to, the properties on which any such resources may be found. Adverse climatic conditions at such properties may also hinder the Company's ability to carry on exploration or production activities continuously throughout any given year.
References to "oil" in this release include crude oil and field condensate.
1 Gross (as defined in CSA Staff Notice 51-324 Revised Glossary to NI 51-101 Standards of Disclosure for Oil and Gas Activities) producing day average rates measured in the field prior to adjustment to sales crude oil volumes and net oil inventory changes.
To view the source version of this press release, please visit
FAQ
What is TAG Oil's (TAOIF) current cash position as of Q1 2025?
TAG Oil reported C$3.2 million in cash and cash equivalents as of March 31, 2025
How much oil is TAG Oil (TAOIF) producing from its BED-1 wells?
The BED-1 wells produced an average of 130 barrels of oil per day, with crude oil sales of 142 barrels per day
Does TAG Oil (TAOIF) have any debt?
No, the company reported having no debt
What is TAG Oil's (TAOIF) working capital as of Q1 2025?
TAG Oil maintained $5.0 million in working capital as of March 31, 2025
What operational improvements did TAG Oil (TAOIF) complete in Q1 2025?
The company completed construction improvements on both well-site early production facilities for improved handling and treatment of Abu Roash F crude oil
An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, to receive support.
