TAG Oil Ltd. (“TAG Oil” or the “Company”, TSXV: TAO and OTCQX: TAOIF) is pleased to report the filing of its financial results for the fiscal year ending March 31, 2022. A copy of TAG Oil’s financial statements and management discussion and analysis for its most recently completed financial year 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$13.3 million (December 31, 2021: C$14.1 million) in cash and cash equivalents and C$15.4 million (December 31, 2021: C$15.8 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.

As previously announced, the Company is continuing to make significant progress on a few key strategic opportunities in Egypt. TAG Oil expects to have an update on the status of one or more of these transactions by the end of calendar Q3.

About TAG Oil Ltd.

TAG Oil is a Canadian based international oil and gas exploration company with a focus on opportunities in the Middle East and North Africa.

For more infomation, visit TAG Oil’s website: http://www.tagoil.com/