TAG Oil Reports Results for Financial Year End

Rhea-AI Summary

TAG Oil reports financial results for the fiscal year ending December 31, 2023. The Company had C$16.4 million in cash and cash equivalents, C$12.2 million in working capital with no debt. TAG Oil focuses on business development in Egypt and other regions.

Positive

• Strong cash position of C$16.4 million in cash and cash equivalents.

• Working capital of C$12.2 million with no debt, showcasing financial stability.

• Focus on business development efforts in Egypt and other regions in the Middle East and North Africa.

Negative

• None.

VANCOUVER, BC, April 29, 2024 /PRNewswire/ - TAG Oil Ltd. (TSXV: TAO) (OTCQX: TAOIF) and (FSE: TOP) ("TAG Oil" or the "Company") is pleased to report the filing of its financial results for the fiscal year ending December 31, 2023. A copy of TAG Oil's financial statements, management discussion and analysis, and annual information form for its most recently completed financial year are available on SEDAR+ (www.sedarplus.ca) and on the Company's website (http://www.tagoil.com/).  

Highlights over the period include that the Company had C$16.4 million (March 31, 2023: C$19.5 million) in cash and cash equivalents and C$12.2 million (March 31, 2023: C$21.6 million) in working capital and has no debt. TAG Oil continues to manage its costs and allocate the necessary resources towards its business development efforts in Egypt and other areas in the Middle East and North Africa region.

About TAG Oil Ltd.

TAG Oil (http://www.tagoil.com/) is a Canadian based international oil and gas exploration company with a focus on operations and opportunities in the Middle East and North Africa.

LinkedIn: https://www.linkedin.com/company/tag-oil-ltd

X: https://twitter.com/tagoilltd

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of TAG Oil. All estimates and statements that describe the Company's operations are forward-looking statements under applicable securities laws and necessarily involve risks and uncertainties. Actual results may vary materially from the information provided in this release, and there is no representation by TAG Oil that the actual results realized in the future will be the same in whole or in part as those presented herein. TAG Oil undertakes no obligation, except as otherwise required by law, to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors change.

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SOURCE TAG Oil Ltd.

FAQ

What are TAG Oil 's cash and cash equivalents for the fiscal year ending December 31, 2023?

TAG Oil had C$16.4 million in cash and cash equivalents for the fiscal year ending December 31, 2023.

What is TAG Oil 's working capital as of December 31, 2023?

TAG Oil 's working capital was C$12.2 million as of December 31, 2023.

Does TAG Oil have any debt?

TAG Oil has no debt.

Where can I find TAG Oil 's financial statements and reports?

TAG Oil 's financial statements, management discussion and analysis, and annual information form are available on SEDAR+ (www.sedarplus.ca) and on the Company's website (http://www.tagoil.com/).