TAG Oil (TAO) Q2 2025 earnings summary

Executive summary

• Reported interim financial results for the period ending June 30, 2025, with operational updates on Middle East and North Africa activities.

• Participating in an open bid for a strategic asset acquisition in Egypt, with the process closing September 30, 2025.

Financial highlights

• Cash and cash equivalents stood at C$5.3 million as of June 30, 2025, up from C$3.2 million on March 31, 2025.

• Working capital was C$4.9 million at quarter-end, compared to C$5.0 million at the end of the previous quarter.

• No debt reported as of June 30, 2025.

Outlook and guidance

• Continues efforts to secure an industry partner to accelerate further drilling at the BED-1 field.

• Expression of Interest from qualified parties for partnership or acquisition to be submitted by September 30, 2025.