September 29, 2008

TAG Oil Graduates to Tier-1 on TSX Venture Exchange

VANCOUVER, Sept. 29 /PRNewswire-FirstCall/ -- Canadian oil and gas production and exploration company TAG Oil Ltd. (TSX-V: TAO and OTCBB: TAGOF) announced today that, it has achieved Tier 1 status on the TSX Venture Exchange.

As defined in TSXV Policy 2.1, Tier 1 is the TSX Venture Exchange's premier tier and is reserved for the most advanced listed companies with the most significant financial resources. Tier 1 listed companies also benefit from decreased filing requirements and improved service standards.

TAG Oil Ltd. is an international oil and gas production and exploration company with holdings in the emerging Taranaki Basin, New Zealand. TAG is poised to grow through existing profitability, and through development and exploration on the Company's high-graded onshore Taranaki acreage.

The TSX Venture Exchange has not reviewed and does not accept

responsibility for the adequacy or accuracy of this release.

TAG Oil Ltd.

CONTACT: Garth Johnson, [email protected], (604) 609-3350