11:06 AM EDT, 05/28/2024 (MT Newswires) -- TAG Oil ( TAOIF ) said Tuesday it completed the initial flow-back operation at the BED4-T100 horizontal well in Egypt.

The company has mobilized the workover rig to the T100 well location to swap the 4 1/2" frac tubing with 3 1/2" production tubing, install a jet pump for artificial lift, and put the well on long-term production.

TAG Oil ( TAOIF ) is expecting a 10-day initial production average in the second half of June, which will indicate actual productivity potential for the T100 well.

The company's shares were last seen down $0.02 to $0.39 on the TSX Venture Exchange.

Price: 0.39, Change: -0.02, Percent Change: -4.88