TAG Oil (TSE:TAO) has released an update.
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TAG Oil Ltd. has reported successful oil production from its BED4-T100 horizontal well in Egypt, producing 400 barrels per day with a better performance than analogous reservoirs. The company is optimizing the well’s productivity and has begun transporting the oil for further processing, with more than 10,000 barrels produced to date. Additionally, TAG Oil is planning further drilling and business development in the region to expand its presence.
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