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TAG Oil ( (TSE:TAO) ) has shared an update.
TAG Oil has announced the results of an independent volumetric assessment of the Abu Roash ‘F’ formation in the Southeast Ras Qattara concession in Egypt. The assessment estimates 3.2 billion barrels of oil-initially-in-place, highlighting the potential for unconventional development. TAG Oil plans to use additional seismic and geological data to validate these estimates and assess the production potential, which could significantly impact the company’s operations and industry positioning.
Spark’s Take on TSE:TAO Stock
According to Spark, TipRanks’ AI Analyst, TSE:TAO is a Neutral.
TAG Oil’s overall stock score is primarily impacted by its poor financial performance, with persistent losses and negative cash flows posing significant risks. The technical analysis suggests a bearish trend, while the valuation is unattractive due to negative earnings and lack of dividends. These factors collectively result in a low overall score.
To see Spark’s full report on TSE:TAO stock, click here.
More about TAG Oil
TAG Oil is a Canadian-based international oil and gas exploration company with a focus on operations and opportunities in the Middle East and North Africa.
Average Trading Volume: 231,390
Technical Sentiment Signal: Sell
Current Market Cap: C$24.91M
For detailed information about TAO stock, go to TipRanks’ Stock Analysis page.