TAG Oil (TAO) Q2 2026 earnings summary

Executive summary

• Reported financial results for the six-month period ending June 30, 2026, with operational updates on oil production and exploration activities.

• Focused on the Badr Oil Field (BED-1) and ongoing exploration in the Western Desert.

Financial highlights

• Held C$10.4 million in cash and cash equivalents as of June 30, 2026.

• Maintained C$10.3 million in working capital and carried no debt at period end.

Outlook and guidance

• Drilling and completion of the T-200 well targeting the Abu Roash "F" formation scheduled for completion by September 30, 2026, with test results expected soon after.

• Plans to resubmit a proposal for additional exploration blocks in the Southeast Ras Qattara concession once regulatory changes are enacted.

• Actively pursuing new acreage opportunities in the Western Desert prospective for unconventional resources.