What Tag Oil does

TAG Oil Ltd. is a Canadian-domiciled, publicly listed upstream oil and gas exploration and production company (TSXV: TAO; OTCQB: TAOIF; FSE: T0P) focused on developing unconventional tight carbonate oil resources in Egypt's Western Desert. The company's core asset base consists of two Petroleum Services Agreements: the BED-1 (Badr Oil Field) concession and the larger Southeast Ras Qattara (SERQ) concession, both targeting the Abu Roash "F" (ARF) formation — a naturally fractured, tight carbonate reservoir with independently estimated oil-in-place of approximately 532 million barrels at BED-1 and 3.2 billion barrels at SERQ.

The company applies Permian-style horizontal drilling combined with multi-stage hydraulic fracture stimulation to unlock commercial production from the ARF reservoir. Its first horizontal well, BED4-T100, was tested at 400-800 BOPD following 12-stage frac stimulation across a 308-meter lateral. Production averages 72-87 barrels of oil per day across operating wells (Q1-2026: 72 bopd; 2025: 84 bopd), with cumulative production exceeding 83,000 barrels by year-end 2025. The company installs jet pump artificial lift systems designed to handle up to 600 barrels of fluid per day.

TAG Oil generates revenue by selling light crude oil produced from BED-1 wells to third-party receiving terminals in the Western Desert, principally the General Petroleum Corporation's Abu Sennan facility, at prevailing market rates for light crude. Oil sales totaled $1.39M in 2025 (up from $0.86M in 2024) against a $4.8M net loss. The company maintains a debt-free balance sheet with C$11.3M working capital as of Q1-2026 and has raised approximately $58.5M in post-IPO equity since November 2022 to fund Egypt drilling and appraisal activities. The customer base is essentially a single offtake counterparty in Egypt's domestic crude market, and the company is pursuing scale-up via appraisal drilling at BED-1, delineation of the SERQ concession, and stated M&A ambitions across the MENA region.

Name

Tag Oil

Legal name

TAG Oil Ltd.

Website

https://tagoil.com

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

TAG Oil is a publicly listed Canadian upstream oil and gas company developing unconventional tight carbonate oil resources in Egypt's Western Desert using horizontal drilling and multi-stage hydraulic fracturing, with producing operations at the Badr Oil Field (BED-1) and appraisal-stage assets at the Southeast Ras Qattara (SERQ) concession.

Ownership category

akta.pro rank

Product category

Oil and Gas Exploration and Production

NAICS

Crude Petroleum Extraction (21112), Oil and Gas Extraction (211), Support Activities for Oil and Gas Operations (213112)

SIC

Crude Petroleum & Natural Gas (1311), Oil & Gas Field Services, Nec (1389), Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Well Completions & Stimulation (Hydraulic Fracturing, Sand Control) (EUALAAAE)

akta.pro secondary industries

Pressure Pumping & Stimulation (Hydraulic Fracturing, Acidizing) (EUALABAF), Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF), Field Development Planning & Subsurface Reservoir Engineering (EUALAAAC)

Keywords

• Oil exploration
• Crude oil production
• Horizontal drilling
• Hydraulic fracturing
• Unconventional reservoir development

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Crude Oil Production and Sales: TAG Oil generates revenue through the production and sale of crude oil from its Badr Oil Field (BED-1) concession in Egypt's Western Desert. The company produces light crude oil from the Abu Roash "F" formation via vertical and horizontal wells, with crude oil sold to third-party receiving terminals in the Western Desert. Revenue is commodity-price sensitive and directly tied to production volumes.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Tag Oil Ltd. is an international oil and gas exploration and production company that produces and sells crude oil from its 100% working-interest BED-1 (Badr Oil Field) concession in Egypt's Western Desert. The company applies horizontal drilling and multi-stage hydraulic fracturing to develop the Abu Roash "F" (ARF) tight carbonate reservoir, processing production through its own Early Production Facility (EPF) and selling crude oil FOB to third-party receiving terminals. The company also holds the SERQ exploration concession for future development.

Product overview

Tag Oil Ltd. is a Canadian-based international oil and gas exploration company focused on operations in the Middle East and North Africa, particularly Egypt's Western Desert. The company's core assets include the Badr Oil Field (BED-1) concession and the Southeast Ras Qattara Concession (SERQ), both targeting the Abu Roash 'F' (ARF) unconventional tight carbonate reservoir. Operations span vertical and horizontal well drilling with hydraulic fracture stimulation, with current production from BED-1 wells averaging approximately 72-84 barrels of oil per day. The company completed its first horizontal well (BED4-T100) with multi-stage frac, achieving initial production rates of 400-800 BOPD, and is advancing development through additional drilling including the T-200 vertical well.

Differentiator

Problem solved

Functional benefit

Products and services

• BED-1 (Badr Oil Field) Concession - Crude Oil Production The 100% working-interest BED-1 (Badr Oil Field) concession in Egypt's Western Desert is Tag Oil's primary producing asset. Crude oil is produced from the Abu Roash "F" (ARF) tight carbonate reservoir using horizontal drilling and multi-stage hydraulic fracturing, processed through the Early Production Facility (EPF), and sold FOB to third-party crude oil receiving terminals.
• SERQ Concession Exploration The SERQ exploration concession is an exploration-stage asset in Egypt's Western Desert held under a 100% working interest by Tag Oil, providing future growth potential on the same unconventional ARF play concept.
• Abu Roash "F" (ARF) Tight Carbonate Reservoir Development Program Tag Oil's central reservoir development program is the application of horizontal drilling and multi-stage hydraulic fracturing to the Abu Roash "F" (ARF) tight carbonate reservoir, applying Permian-style unconventional techniques to the Western Desert geological play.
• Early Production Facility (EPF) Operations Tag Oil's owned and operated Early Production Facility (EPF) processes crude oil produced from the BED-1 concession and delivers it FOB to third-party receiving terminals. The EPF provides the company with direct operational control over production handling and delivery.

Quantifiable outcome

• T100 horizontal well achieved 800 bopd during production testing; ~130 bopd per 100 meters of lateral horizontal length
• +3 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Badr Petroleum CompanycoreStrategic or Co-development Partner · 31 October 2025Badr Petroleum Company holds the BED-1 concession. TAG Oil operates under a petroleum services agreement with Badr Petroleum, which was extended in 2025 for three years to October 13, 2028, during which TAG Oil commits to drill two additional wells at BED-1 and potentially proceed with full-scale commercial development of the Abu Roash "F" reservoir.
• Egyptian National Petroleum for Exploration and Development Company (ENPEDCO)coreStrategic or Co-development PartnerENPEDCO is the operator and partner for the Southeast Ras Qattara (SERQ) concession, having expanded the concession with additional exploration blocks. TAG Oil received approval to enter into a petroleum services agreement for ARF formation development at SERQ, with a revenue-sharing model with ENPEDCO and the Egyptian National Petroleum Corporation.
• General Petroleum Corporation (Abu Sennan Receiving Facility)minorOthersTAG Oil ships crude oil to the General Petroleum Corporation's Abu Sennan receiving facility for further treating and handling. Construction of an oil delivery station at this third-party facility was ongoing as of mid-2024 to support regular crude oil shipments from the ARF formation production.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Africa Oil Corp: TSX-V-listed international upstream E&P focused on Africa. Highly comparable: TAG director Keith Hill serves as CEO of Africa Oil, and both target African/MENA conventional and unconventional resources with similar operating and capital-raising models.
• PetroTal Corp: TSX-listed development-stage international E&P focused on a single asset ( Bretaña field in Peru ). Highly comparable: TAG CFO Doug Urch was EVP & CFO of PetroTal (2019–2024), both companies operate as single-concession, single-asset producers reliant on equity issuance, and share a similar junior international E&P playbook.
• SDX Energy: Egypt-focused international upstream E&P operating in the Western Desert (South Ramadan, West Gharib, Meseda). Highly comparable geographic and operational overlap with TAG Oil's BED-1/SERQ concessions and similar small-cap, asset-concentrated development profile.
• ShaMaran Petroleum Corp: TSX-V-listed international E&P focused on Kurdistan/MENA upstream assets. Comparable: TAG director Keith Hill chairs ShaMaran; both are small-cap, MENA-focused upstream operators with similar development-stage profiles and equity-financed drilling programs.
• Gulf Keystone Petroleum: AIM-listed international E&P producing from the Kurdistan Region of Iraq. Comparable as a small/mid-cap MENA-focused independent E&P with similar single-region production profile, government partnership dynamics, and commodity-revenue model.
• Genel Energy: LSE-listed international E&P with Kurdish-focused production and broader MENA exploration interests. Comparable as a small-cap MENA upstream operator with similar single-region concentration and partnership structures with regional governments.
• Kuwait Energy: MENA-focused international upstream E&P (Egypt, Iraq, Oman, Yemen) previously led by TAG CEO Abdel Badwi (sold for US$830M in 2019). Directly comparable as a MENA-focused E&P with similar Egyptian Western Desert and Middle East operational footprint.

Emerging players

• Challenger Energy Group: AIM-listed emerging international upstream company with assets in the Caribbean and Africa. Comparable as a small, development-stage, equity-funded international E&P pursuing unconventional opportunities in emerging regions.
• Condor Energies: TSX-V-listed emerging international upstream company with unconventional gas development in Uzbekistan. Comparable as a development-stage, equity-financed, technology-driven international E&P pursuing resource-play development outside North America.

Broad incumbents

• Gran Tierra Energy: NYSE/TSX-listed international E&P producing from Colombia and Ecuador with broader MENA optionality. Comparable as a small/mid-cap international upstream operator pursuing M&A-led growth in frontier and emerging basins, though materially larger and more diversified than TAG.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/tagoilltd
• LinkedInlinkedin.com/company/tag-oil-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds7 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tag Oil