TAG Oil Announces Volumetric Assessment of Abu Roash "F" Formation in Southeast Ras Qattara Concession

Core Insights - TAG Oil Ltd. announced the results of an independent assessment of volumetric estimates for the Abu Roash "F" formation in the Southeast Ras Qattara concession, indicating significant potential for unconventional oil development [1][4][6] Group 1: Volumetric Estimates - The oil-initially-in-place (OIIP) estimates for the ARF formation are 3.2 billion barrels, covering an area of approximately 250 km² in the SERQ Concession [7] - The estimates are based on seismic and well control data from over 20 penetrations, with petrophysical analysis revealing porosity values between 5-10% and consistent thickness of 35-45 meters [7] - Maturity analysis suggests the ARF formation is in the early to mid-mature oil window, favorable for hydrocarbon generation [7] Group 2: Development Plans - TAG Oil has received approval for a petroleum services agreement to develop the ARF formation, allowing access to additional seismic and geological data [2] - The company plans to conduct detailed geochemical and geo-mechanical studies to validate volumetric estimates and assess production potential [2] - Future steps will focus on validating estimates through improved seismic interpretation and production testing to determine economic viability [4] Group 3: Technical Insights - Reservoir characteristics of the ARF formation are similar to those in the productive Badr Oil Field, although there is no certainty that results will be identical due to potential differences in reservoir quality and completion techniques [7] - Planned production tests and geological studies will help optimize well design and hydraulic fracture stimulation for effective resource recovery [7]