An update from TAG Oil ( (TSE:TAO) ) is now available.
TAG Oil has successfully completed the sale of its 2.5% gross overriding royalty interests in several New Zealand permits to Kiwi Royalty Limited for a cash payment of $2.2 million, with potential additional milestone payments of up to $300,000. This transaction allows TAG Oil to reallocate resources towards its core business operations, aligning with its strategic focus on sustainable growth and value creation in Egypt.
Spark’s Take on TSE:TAO Stock
According to Spark, TipRanks’ AI Analyst, TSE:TAO is a Underperform.
TAG Oil’s overall stock score is low, primarily due to significant financial challenges, including negative profitability and cash flow issues. While technical indicators offer some neutral signals, the negative valuation metrics further weigh down the score, reflecting a cautious outlook for investors.
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.
YTD Price Performance: -42.86%
Average Trading Volume: 273,346
Technical Sentiment Signal: Buy
Current Market Cap: C$18.08M
For detailed information about TAO stock, go to TipRanks’ Stock Analysis page.