It’s always hard to predict what will happen next in the ever-volatile oil industry. But with my two decades of experience analyzing oil markets, I expect Brent oil prices to trade in the $75-80 range. With the increased tensions in the world, I believe that there is now a firm floor at $70 per barrel, Brent. Barring a significant global recession, I expect prices to remain high in the near to medium term.
Currently, TAG Oil is drilling the T-100 Well, our first horizontal well in the western desert of Egypt. We anticipate the pricing for this well to be close to the Brent oil price. TAG Oil stands out in the global oil and gas arena thanks to its strategic focus on exploiting and developing later-life conventional assets, incorporating advanced technologies and its unconventional knowledge.
The company’s leadership with a track record that includes successful ventures such as Bankers Petroleum, Rally Energy, and Kuwait Energy, inspires confidence in our ability to consistently deliver results. Leveraging our extensive experience and expertise, particularly with the T-100 Horizontal Well targeting the unconventional tight reservoir in Abu-Roash “F” formation, we aim for outcomes that exceed expectations.
ABOUT TAG OIL:
TAG Oil (TSXV: TAO | OTCQX: TAOIF) is powering the future of the Oil and Gas Sector in the Middle East and North African region.