TAG Oil Reports Q2 2022 Results

VANCOUVER, BC, Nov. 26, 2021 /CNW/ - TAG Oil Ltd. ("TAG Oil" or the "Company", (TSXV: TAO) and (OTCQX: TAOIF) is pleased to report the filing of its second quarter results for the interim period ending September 30, 2021. A copy of TAG Oil's financial statements and management discussion and analysis for its most recently completed interim period are available on SEDAR (www.sedar.com) and on the Company's website (https://tagoil.com/investors/financial-reports/).

Highlights over the period include that the Company had C$15.2 million (June 30, 2021: C$15.6 million) in cash and cash equivalents and C$15.6 million (June 30, 2021: C$16.3 million) in working capital. The Company has no debt and continues to manage its costs and allocate the necessary resources towards its business development efforts to maximize value for its shareholders.

TAG Oil is continuing to pursue several acquisition projects in Egypt and explore other strategic opportunities in the Middle East and North Africa. Further information on these efforts will be provided by the Company in due course.

The Company also reports that its upcoming annual general meeting of its shareholders (the "Meeting") will be virtually held on December 2, 2021, at 10:00 a.m. (PST). For further information on the Meeting, a copy of the Meeting materials are available on SEDAR (www.sedar.com) and on TAG Oil's website (https://tagoil.com/investors/financial-reports/).

About TAG Oil Ltd.

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

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

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws, including statements with regard to the Company's operations and potential strategic opportunities. These statements address future events and conditions and are reliant on assumptions made by the Company's management, and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. As a result of these risks and uncertainties, and the assumptions underlying the forward-looking information, actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement, except as required by applicable law.

SOURCE TAG Oil Ltd.