TAG Oil Ltd. (TSXV: TAO and OTCQX: TAOIF) (“TAG Oil” or the “Company”) is pleased to announce that its senior executive team will be hosting a live conference call on Thursday, July 6, 2023 at 7:00 AM PST / 10:00 AM EST for investors to discuss TAG Oil’s updated corporate presentation. A copy of the corporate presentation can be viewed at the Company’s website by accessing the following link. Interested parties will be able to access the conference call via live teleconference in listen-only mode by dialing: Canada/USA Toll Free: 1-800-319-4610; or International Toll: +1-604-638-5340. Callers should dial in 5

TAG Oil Ltd. (TSXV: TAO and OTCQX: TAOIF) is pleased to provide the following operations update at the BED-1  Field in the Western Desert, Egypt: BED 1-7 Well Production Since initial flowback of the BED 1-7 well on April 23, 2023, the well started by unloading to surface completion fluid from the fracture stimulation and formation oil under natural flow; the Company temporarily shut-in the well to install production tubing and down-hole Electric Submersible Pump (“ESP”). The BED 1-7 well started production on May 19, 2023, from the Abu-Roash “F” (“ARF”) reservoir with the ESP pump at rates of 150

TAG Oil Ltd. (TSXV: TAO and OTCQX: TAOIF) is pleased to announce the successful re-entry of the vertical well, BED 1-7, at the Badr Oil Field (“BED-1”) in the Western Desert, Egypt. The Company perforated the Abu Roash “F” formation (“ARF Formation”) and conducted a Diagnostic Fracture Injectivity Test (DFIT). The reservoir was further fracture stimulated with a large 110 tons sand treatment and pump schedule with positive response confirming reservoir models and projected performance. On flowback, the well unloaded to surface under natural flow and cleaned up approximately 40% of the injected fracture fluid with significant presence of 230

TAG Oil Ltd. (TSXV: TAO and OTCQX: TAOIF) is pleased to announce the successful re-entry of the vertical well, BED 1-7, at the Badr Oil Field (“BED-1”) in the Western Desert, Egypt. The Company perforated the Abu Roash “F” formation (“ARF Formation”) and conducted a Diagnostic Fracture Injectivity Test (DFIT). The reservoir was further fracture stimulated with a large 110 tons sand treatment and pump schedule with positive response confirming reservoir models and projected performance. On flowback, the well unloaded to surface under natural flow and cleaned up approximately 40% of the injected fracture fluid with significant presence of 230

TAG Oil Ltd. (TSXV: TAO and OTCQX: TAOIF) is pleased to report that re-entry and installation of the completion string at the BED 1-7 well has been successfully completed. The re-entry operation included installation of a new well-head assembly, removal of the old tubing string and dual packer assembly, isolation of previously perforated upper reservoir layers in the Abu-Roash formation and cleaning the well down to base depth at approximately 3,250 m. After conditioning the wellbore, a new completion string was installed in the open-hole section of the well across the Abu-Roash “F” (“ARF”) formation in preparation for hydraulic fracture stimulation. Indications

TAG Oil Ltd. (TSXV: TAO and OTCQX: TAOIF) is pleased to report the filing of its financial results for the interim period ending December 31, 2022. A copy of TAG Oil’s financial statements and management discussion and analysis for the interim period ending December 31, 2022 are available on SEDAR and on the Company’s website. Highlights over the period include that the Company had C$21.4 million (September 30, 2022: C$9.2 million) in cash and cash equivalents and C$24.0 million (September 30, 2022: C$11.5 million) in working capital and has no debt. During the quarter ended December 31, 2022, as previously announced,

TAG Oil Ltd. (TSXV: TAO and OTCQX: TAOIF) is pleased to announce that it has earned a spot on the 2023 TSX Venture 50 list. The annual ranking comprises the top 10 performing companies from the past year on the TSX Venture Exchange across five sectors: energy, mining, clean technology and life sciences, diversified industries, and technology. Based on the Company’s performance across three key indicators: market capitalization growth, share price appreciation, and trading volume, TAG Oil ranked #6 on the energy sector list. TAG Oil’s CEO, Toby Pierce, stated “We are proud to have earned a TSX Venture top 50

TAG Oil Ltd. (TSXV: TAO and OTCQX: TAOIF) is pleased to confirm that the Company’s Phase 1 re-completion and evaluation operations of the BED 1-7 vertical well are progressing according to plan. TAG Oil continues to prepare the well for the hydraulic fracture stimulation that is expected to occur around the end of February. The Company anticipates providing well flow results from these operations in March 2023. TAG Oil also announces the grant of 3,600,000 stock options that are exercisable for a period of five years at a price of C$0.70 per share, namely to its directors and senior officers. About

TAG Oil Ltd. (TSXV: TAO and OTCQX: TAOIF) is pleased to announce that the Company has commenced the re-completion and evaluation operations of the BED 1-7 vertical well. These initial operations are part of TAG Oil’s Phase 1 development program of the unconventional Abu Roash “F” (“ARF”) reservoir in the Badr Oil Field (“BED-1”) located in the Western Desert, Egypt. More specifically, the Company identified a suitable candidate well (BED 1-7) for re-completion that historically produced approximately 20,000 barrels from the ARF reservoir at an initial production rate of 418 barrels of oil per day. The well declined quickly without any