TAG Oil (TAO) investor relations material

Strategic focus and asset overview

• Focus on high-value oil and gas opportunities in Egypt's Western Desert, targeting unconventional ARF reservoirs at BED-1 and SERQ concessions.

• BED-1 covers 107 km² with proven light oil production; SERQ spans 2,000 km² with multiple proven conventional reservoirs and ARF unconventional potential.

• Both concessions have extensive 2D/3D seismic coverage and numerous ARF well penetrations.

• Egypt offers a supportive jurisdiction with established infrastructure and incentives for unconventional development.

Resource potential and comparative analysis

• ARF resource at BED-1 estimated at over 500 million barrels OIIP; SERQ ARF potential estimated at 3.2 billion barrels OIIP over 250 km².

• ARF reservoir properties in Egypt are analogous to the U.S. Permian and Eagle Ford plays, with similar porosity, pressure, and unconventional development potential.

• Independent assessment (FracMod) confirms strong unconventional potential in SERQ, recommending testing and new exploration wells.

Fiscal terms and agreements

• BED-1 PSA signed in October 2022, granting exclusive ARF development rights until 2032, extendable to 2042; TAG receives a 62% service fee on production revenue up to 10,000 BOPD at $70–$90 Brent.

• SERQ PSA approved in October 2025, with exploration term until 2027 and 20-year production leases; service fee is 62.2%–61.6% depending on Brent price.

• Taxes and royalties are paid by EGPC for both concessions.