Vancouver, British Columbia--(Newsfile Corp. - October 19, 2026) - TAG Oil Ltd. (TSXV: TAO) (OTCQB: TAOIF) (FSE: T0P) ("TAG Oil" or the "Company") provides an update on the production testing of its T-200 vertical well at the Badr Oil Field ("BED-1") in Egypt's Western Desert.

The T-200 well was drilled and completed on budget to a total depth of 4,160 metres, targeting the Abu Roash "F" reservoir. The Company began well unloading operations, using nitrogen lifting through coiled tubing to displace the brine in the production tubing. Over the last 48-hour period, no formation oil had reached surface by the end of the operation suggesting restricted flow potentially associated with near-wellbore formation damage or reservoir skin.

The well was shut in for the drilling rig to be released from the location. Upon release an acid stimulation treatment, a primary method in carbonate reservoirs to improve wellbore clean-up and restore formation flow capacity, will be undertaken. After the acid operation the well will be re-tested, and the Company will continue to monitor performance and evaluate pressure and decline behavior to determine the well's stabilized production rate.

TAG Oil will be providing a further update along with Q3-2026 operating and financial results on November 25, 2026.

About TAG Oil Ltd.

TAG Oil (http://www.tagoil.com/) is a Canadian-based international oil and gas exploration company with a focus on operations and opportunities in the Middle East and North Africa.

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 uncertainties affecting the business of TAG Oil. All estimates and statements that describe the Company's future operations, plans and objectives are forward-looking statements under applicable securities laws and necessarily involve risks and uncertainties. Forward-looking statements in this release include, but are not limited to, statements regarding the Company's interpretation of the T-200 well unloading results, including the potential causes of restricted flow; the planned release of the drilling rig; the planned acid stimulation treatment and its expected effect on wellbore clean-up and formation flow capacity; the Company's plans to test the well following the acid stimulation and to monitor performance and evaluate pressure and decline behaviour to determine the well's stabilized production rate; the production potential of the T-200 well; and the anticipated timing of the Company's further update and its Q3 2026 operating and financial results. These forward-looking statements are based on assumptions the Company believes to be reasonable as of the date of this release, including, without limitation, assumptions regarding the accuracy of the Company's interpretation of the well unloading results, the effectiveness of the acid stimulation treatment, reservoir and pressure conditions being consistent with such interpretation, the timely performance of contractors and counterparties, the receipt and maintenance of all required regulatory approvals and permits, the availability of stimulation and testing equipment, services and personnel, stimulation and testing costs being consistent with budget, and the absence of material operational delays or interruptions. The Company's interpretation of the causes of restricted flow is preliminary and remains subject to further analysis and revision. There is no assurance that the acid stimulation treatment will be successful, that the T-200 well will flow oil to surface or produce at commercial rates, or that the planned operations and reporting will occur on the anticipated timeline. 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 asset 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319668

Source: TAG Oil Ltd.