Mr. Abdel Badwi reports

TAG OIL COMMENTS ON RECENT MARKET ACTIVITY

TAG Oil Ltd. is not aware of any material undisclosed information related to the company that would account for the recent market activity leading to downward pressure on its share price.

As previously disclosed, the company is progressing the acquisition of a strategic 512,000-acre concession in the Western Desert, Egypt. This acquisition is expected to significantly expand TAG Oil's acreage position, and enhance its operational footprint in the region for both conventional oil and gas reservoirs, and the unconventional Abu Roash F (ARF) oil resource play.

At the Badr oil field, several strategic international industry partners have expressed interest in potentially participating as a strategic joint venture party in the next phase of drilling across the block. Management presentations are currently under way and interested parties are expected to submit indicative offers as the process continues to evolve.

TAG Oil will continue to keep shareholders informed of significant developments.

About TAG Oil Ltd.

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.

We seek Safe Harbor.