TAG Oil Announces $5 Million Brokered LIFE Offering to Advance Unconventional Development Activities on its Large Oil-In-Place Resource Play at BED-1 and SERQ Concessions, Egypt

Core Viewpoint - TAG Oil Ltd. has announced a private placement offering to raise up to $5 million through the sale of units priced at $0.10 each, which will consist of common shares and warrants [1][2]. Offering Details - The offering will consist of units, each comprising one common share and one warrant, with the warrant allowing the purchase of an additional common share at $0.13 for 48 months [2]. - The company has granted the agents an option to increase the offering size by up to 15% [4]. - The offering is expected to close around the week of February 16, 2026, pending regulatory approvals [12]. Use of Proceeds - The net proceeds from the offering will be used for appraisal and development activities at the Badr Oil Field and Southeast Ras Qattara concessions in Egypt, as well as for working capital and general corporate purposes [5][6]. Investment Highlights - TAG Oil has identified the ARF reservoir at BED-1 as a low-permeability carbonate formation with significant development potential, with independent engineers estimating 532 million barrels of oil-in-place [11]. - The SERQ concession is estimated to hold approximately 3.2 billion barrels of oil-initially-in-place across 512,000 acres, with further technical studies planned [11]. - The existing regional infrastructure is expected to lower development risks and timelines [11]. Additional Offering Information - The units will be offered under the listed issuer financing exemption, making them free-trading upon closing in Canada and other qualifying jurisdictions [9]. - The agents will receive an 8% cash commission on the gross proceeds and broker warrants equal to 8% of the units sold [13].