TAG Oil News Releases

07/09/09

TAG Oil Announces Completion of Normal Course Issuer Bid

Vancouver, British Columbia - July 9, 2009 - Oil and gas producer and explorer, TAG Oil Ltd. (TSX-V: TAO), announces that the Company's Normal Course Issuer Bid announced in September 2008 to purchase up to 1,516,700 common shares ("Shares") has been completed through the facilities of the TSX Venture Exchange. As a result of the purchase and cancellation of 1,516,500 shares there will be 16,809,722 shares issued and outstanding.

Garth Johnson, TAG Oil Chief Executive, commented, "The purchase of the Company's shares over the term of the Normal Course Issuer Bid represented a prudent investment given the discrepancy between the share price and the value of the underlying assets. The purchase and subsequent cancellation of these shares has created substantial value for TAG shareholders in addition to its developing assets and high graded exploration prospects in the Taranaki Basin of New Zealand."

About TAG Oil Ltd.
TAG Oil Ltd. is a Canadian-based oil and gas producer and explorer with assets in the onshore Taranaki Basin of New Zealand. TAG is poised to grow through existing profitability, acquisition, development and exploration. TAG remains in a strong financial position, with sufficient working capital to fund operations and meet all commitments for the foreseeable future. For further information please visit our website at http://www.tagoil.com/.

Contact: Garth Johnson, CEO 1-604-609-3350
Website: http://www.tagoil.com/

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.