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TAG Oil
(TAO)
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Rating:46Neutral
Price Target:
C$0.09
▲(10.00% Upside)
Action:Reiterated
Date:09/15/26
The score is held down primarily by weak financial performance (recurring losses and sustained negative operating/free cash flow), with only partial support from a relatively low-leverage balance sheet. Technicals are neutral-to-slightly constructive, but valuation remains challenged due to negative earnings and no provided dividend yield.
Positive Factors
Low leverage and equity cushion
A relatively unlevered balance sheet gives TAG Oil more flexibility to fund exploration, manage volatility, and pursue opportunities without immediate debt pressure. The sizable equity base also provides a cushion against operating setbacks, although continued losses could reduce that protection over time.
Negative Factors
Small and inconsistent revenue base
An unstable revenue base makes TAG Oil’s operating performance difficult to forecast and limits internally generated funding for exploration and development. Periods of zero revenue also indicate that the company may remain highly dependent on asset outcomes or transactions to establish sustainable scale.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and equity cushion
A relatively unlevered balance sheet gives TAG Oil more flexibility to fund exploration, manage volatility, and pursue opportunities without immediate debt pressure. The sizable equity base also provides a cushion against operating setbacks, although continued losses could reduce that protection over time.
Read all positive factors
TAG Oil (TAO) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$29.09M
Dividend Yield230.77%
Average Volume (3M)422.85K
Price to Earnings (P/E)―
Beta (1Y)0.66
Revenue Growth-14.21%
EPS Growth37.17%
CountryCA
Employees12
SectorGeneral
Sector StrengthN/A
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.02
Shares Outstanding342,211,700
10 Day Avg. Volume477,190
30 Day Avg. Volume422,848
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)0.45
Price to Sales (P/S)13.87
P/FCF Ratio-3.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.01
Revenue Forecast (FY)C$3.00M
TAG Oil Business Overview & Revenue Model
Company Description
TAG Oil Ltd., operating alongside its affiliated entities, engages in the exploration, development, and production of oil and natural gas throughout Canada, the Middle East, and North Africa. Founded in 1990, the company was formerly known as Duru...
How the Company Makes Money
TAG Oil’s core revenue model (when it has producing assets) is based on selling produced hydrocarbons (crude oil, condensate, and/or natural gas) into applicable local or export markets under commodity-linked pricing, with cash flow driven by prod...
TAG Oil Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
64
Positive
Cash Flow
22
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Jun 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.39M | 1.39M | 864.00K | 781.33K | 0.00 | 0.00 |
| Gross Profit | -1.30M | -1.30M | -1.01M | -1.00M | -164.00K | -122.00K |
| EBITDA | -6.22M | -6.62M | -8.28M | -9.01M | -7.39M | -3.85M |
| Net Income | -4.80M | -4.80M | -6.33M | -8.20M | -3.00M | -4.46M |
Balance Sheet | ||||||
| Total Assets | 44.76M | 44.76M | 55.09M | 53.91M | 41.06M | 18.20M |
| Cash, Cash Equivalents and Short-Term Investments | 2.55M | 2.55M | 7.40M | 16.44M | 20.66M | 15.52M |
| Total Debt | 1.05M | 1.05M | 1.49M | 208.00K | 459.00K | 573.00K |
| Total Liabilities | 2.02M | 2.02M | 5.74M | 7.43M | 2.04M | 979.00K |
| Stockholders Equity | 42.74M | 42.74M | 49.35M | 46.48M | 39.01M | 17.23M |
Cash Flow | ||||||
| Free Cash Flow | -8.68M | -5.95M | -23.88M | -22.88M | -11.94M | -4.11M |
| Operating Cash Flow | -5.95M | -5.95M | -5.98M | -3.90M | -5.46M | -4.08M |
| Investing Cash Flow | 1.60M | 1.60M | -17.14M | -17.28M | -4.42M | 1.33M |
| Financing Cash Flow | -293.00K | -293.00K | 5.54M | 17.00M | 23.57M | -55.00K |
TAG Oil Technical Analysis
Negative
0.08
Price Trends
0.09
Negative
0.08
Negative
0.09
Negative
Market Momentum
<0.01
Positive
37.28
Neutral
13.89
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:TAO, the sentiment is Negative. The current price of 0.08 is below the 20-day moving average (MA) of 0.09, below the 50-day MA of 0.09, and below the 200-day MA of 0.09, indicating a bearish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 37.28 is Neutral, neither overbought nor oversold. The STOCH value of 13.89 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:TAO.
TAG Oil Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
58 Neutral | C$53.19M | 2.17 | 36.07% | 40.98% | 135.10% | 585.62% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
46 Neutral | C$29.09M | -3.62 | -12.06% | 230.77% | -14.21% | 37.17% | |
45 Neutral | C$19.19M | -11.42 | -3.30% | ― | -1.78% | 49.69% | |
44 Neutral | C$21.31M | -1.20 | 134.84% | ― | 6.62% | -66.67% | |
43 Neutral | C$59.32M | -24.86 | -8.75% | ― | ― | 51.51% | |
41 Neutral | C$17.99M | -6.42 | -666.70% | ― | -24.51% | 1.06% |
* General Sector Average
TSE:TAO
TAG Oil
0.09
-0.03
-29.17%
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TAG Oil Corporate Events
Business Operations and StrategyFinancial Disclosures
TAG Oil Posts Solid Cash Position and Advances Western Desert Drilling
Positive
Aug 27, 2026
TAG Oil reported financial results for the six months to June 30, 2026, ending the period with C$10.4 million in cash, C$10.3 million in working capital and no debt, underscoring a strong balance sheet. Production from its two BED-1 wells averaged...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.