TAG Oil Provides Drilling and Corporate Update

VANCOUVER, June 26  /PRNewswire-FirstCall/ -- TAG Oil Ltd. (TSX-V: TAO/OTCBB: TAGOF), announces that the Cheal A6 well has reached a Measured Total Depth Along Hole of 1,930 meters and logs are currently being run. Results from A6 are expected within the next week.

TAG also announces that Dr. David Bennett has resigned as a Director of the Company. Dr. Bennett will, however, remain as a technical advisor to the Company.

Garth Johnson, TAG Oil Chief Executive Officer said, "TAG wishes to extend its thanks to Dr. Bennett for his contributions over the past year and I look forward to continuing to work with him in his role as an advisor to the Company."

About TAG Oil

TAG Oil Ltd. is a new oil and gas producer in the Taranaki Basin, New Zealand. TAG is well funded, debt free and is poised to grow through production, development and exploration drilling on the Company's high-graded Taranaki exploration acreage.

Forward Looking Statements:

Statements contained in this news release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of TAG Oil. Actual results may vary materially from the information provided in this release. As a result there is no representation by TAG Oil that the actual results realized in the future will be the same in whole or in part as those presented herein. Actual results may differ materially from the results predicted, and reported results should not be considered as an indication of future performance. Factors that could cause actual results to differ from those contained in the forward-looking statements, are set forth in, but are not limited to, filings that the Company and its independent evaluator have made, including the Company's most recent reports in Canada under National Instrument 51-102 and in the United States under Forms 20-F and 6K.

  The TSX Venture Exchange has not reviewed and does not accept
  responsibility for the adequacy or accuracy of this release.




CONTACT: Garth Johnson, CEO, [phone], Website: http://www.tagoil.com/ 

DATASOURCE: TAG Oil Ltd.



CONTACT: Garth Johnson, CEO, [phone], Website:

http://www.tagoil.com/

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