FINWIRES · TerminalLIVE
FINWIRES

TAG Oil Provides Update on Drilling Operations at BED-1 Concession, Egypt

By

TAG Oil (TAO.V) on Tuesday provided an update on drilling operations at the Badr Oil Field (BED-1) in the Western Desert of Egypt.

For the upcoming T-200 vertical well, the NDC-9 drilling rig is expected to be mobilized to the BED-1 location this month, said the company and added that surface site preparation is underway, and other regulatory requirements have been secured.

Drilling operations are expected to start by mid-July.

"Designed as a vertical well with a planned total depth of approximately 4,250 metres, T-200 will target the Abu Roash "F" formation, a naturally fractured reservoir in this area where nearby wells have encountered lighter gravity oil," stated the company.

Drilling and completion activities are expected to take approximately 60 days.

"The T-200 well represents the next step in TAG Oil's ongoing evaluation of the ARF formation and securing the NDC-9 drilling rig marks an important milestone," said chief executive Abby Badwi. "With site preparation and activities progressing as planned, we look forward to commence drilling next month and further evaluating the production potential of this reservoir."

The company's shares were last seen unchanged at $0.075 on the TSX Venture Exchange.

Related Articles

Mining & Metals

Update: SSR Mining Announces Additional $500 Million Share Buyback and Reinstatement of Quarterly Dividend

(Adds after-hours Nasdaq trading in final paragraph.)SSR Mining (SSRM.TO, SSRM) after the close Monday approved an additional $500 million for share repurchases and the reinstatement of a regular quarterly dividend as part of the company's ongoing capital returns program.These additional capital returns build on the $774 million that SSR has returned to shareholders since 2021, including $300 million in share repurchases completed in the second quarter of 2026, said executive chair Rod Antal."Year-to-date, our shareholder returns already represent a yield of approximately 5%, before giving effect to the additional $500 million authorization for share repurchases and the reinstatement of a quarterly dividend announced today. Together, these actions reinforce SSR Mining's disciplined approach to capital allocation and commitment to delivering value to shareholders," added Antal.SSR said it is in a strong financial position, supported by ongoing free cash flow generation, a robust balance sheet, and the anticipated closing of the sale of the Copler mine for $1.5 billion in cash, which remains on track to close before the end of the third quarter.Its board anticipates declaring the first quarterly cash dividend of $0.03 per common share in conjunction with the company's second quarter 2026 financial results. Annualized, the $0.12 per common share dividend provides a strong baseline of consistent capital returns to supplement the share buyback program, SSRM said.Shares of the company were last seen up US$0.59 to US$29.53 after hours. They closed up $2.37 at $40.45 on Toronto Stock Exchange.

$SSRM.TO
Mining & Metals

SSR Mining SSR Announces Additional $500 Million Share Buyback and Reinstatement of Quarterly Dividend

SSR Mining (SSRM.TO, SSRM) after the close Monday approved an additional $500 million for share repurchases and the reinstatement of a regular quarterly dividend as part of the company's ongoing capital returns program.These additional capital returns build on the $774 million that SSR has returned to shareholders since 2021, including $300 million in share repurchases completed in the second quarter of 2026, said executive chair Rod Antal."Year-to-date, our shareholder returns already represent a yield of approximately 5%, before giving effect to the additional $500 million authorization for share repurchases and the reinstatement of a quarterly dividend announced today. Together, these actions reinforce SSR Mining's disciplined approach to capital allocation and commitment to delivering value to shareholders," added Antal.SSR said it is in a strong financial position, supported by ongoing free cash flow generation, a robust balance sheet, and the anticipated closing of the sale of the Copler mine for $1.5 billion in cash, which remains on track to close before the end of the third quarter.Its board anticipates declaring the first quarterly cash dividend of $0.03 per common share in conjunction with the company's second quarter 2026 financial results. Annualized, the $0.12 per common share dividend provides a strong baseline of consistent capital returns to supplement the share buyback program, SSRM said.Shares of the company closed up $2.37 at $40.45 on Toronto Stock Exchange.

$SSRM.TO
Mining & Metals

Gold Royalty Announcing Acquisition of Additional Interest in REN Project; Involves Barrick Mining

$ABX.TO$GROY