TAG Oil (TSE:TAO) has released an update.
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TAG Oil Ltd. has reported promising initial production test results from its BED4-T100 horizontal well in Egypt, yielding 800 barrels of oil per day post-fracture stimulation. The well showed positive signs with a declining water-cut, indicating effective reservoir performance, and has produced over 4,500 barrels of oil thus far. CEO Toby Pierce expressed optimism for future production growth, with plans to expand horizontal drilling and stimulation in the ARF resource play.
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