TAG Oil advances exploration with successful drilling of BED4-T100 Well in Badr Oil Field

In a landmark achievement for the energy sector, TAG Oil Ltd. (TSXV: TAO) (OTCQX: TAOIF), a prominent player in the oil and gas exploration and development arena, has announced the successful completion of the drilling phase for the BED4-T100 (T100) horizontal well in the esteemed Badr Oil Field (“BED-1”) in in the Western Desert of Egypt, specifically targeting the Abu Roash “F” limestone formation (“ARF”). This milestone underscores TAG Oil’s commitment to advancing exploration and development efforts within the region.

During the drilling operations, the well penetrated an over-pressured reservoir exhibiting regions with exceptional porosity and permeability. Notably, the drilling phase encountered clear signs of free oil flow to the wellbore and surface, complemented by consistently elevated gas readings throughout the ARF formation. The encountered high pressure and potentially high gas to oil ratio within the ARF zone are expected to significantly bolster the T100 well’s production capabilities.

In response to the higher reservoir pressure and gas readings observed, TAG Oil has judiciously adjusted the well’s lateral length to 308 meters (1,000 feet) as a precautionary safety measure. Currently, the company is refining its multistage hydraulic fracture completion design to optimize the stimulated reservoir volume of the wellbore. The exceptional reservoir quality encountered presents a promising opportunity for robust oil production performance following the hydraulic fracture stimulation of the ARF horizontal well.

Preparations for the well’s completion stage are advancing, with necessary steps being taken to commence fracture stimulation. The installation of the 4-1/2″ liner with packers assembly required for completion is complete, and the drilling rig is in the process of being released. TAG Oil is gearing up to mobilize the completion surface equipment and personnel to the T100 well site, with expectations to begin stimulating the well by mid-April.

As TAG Oil continues to push the boundaries of oil and gas exploration in the Badr Oil Field, the successful drilling of the BED4-T100 well represents a significant stride forward in the company’s exploration and development efforts. This venture not only exemplifies TAG Oil’s innovative approach to overcoming technical challenges but also highlights the potential for future advancements in the energy sector.

TAG Oil Ltd.’s successful drilling in the Badr Oil Field’s BED4-T100 horizontal well represents a pivotal moment in the company’s exploration endeavors. The clear indications of free oil flow and elevated gas readings during drilling signify the well’s potential for high production capabilities. This development, combined with the strategic adjustments made to the well’s design and the upcoming hydraulic fracture stimulation, underscores the project’s promise for robust oil production. TAG Oil’s proactive and technical approach sets a benchmark for innovation and efficiency in the exploration and development of oil and gas resources.