VANCOUVER, BC, July 25,
2022 /CNW/ - TAG Oil Ltd. ("TAG Oil" or the
"Company") (TSXV: TAO) (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 (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.
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SOURCE TAG Oil Ltd.