Competition and Performance

A History of International Opportunity
There are a growing number of independents moving operations international, in pursuit of greater opportunity in new frontiers. In particular, Canadian companies that are deploying their North American expertise are enjoying considerable success in international oil and gas exploration, and shareholders have also been rewarded with significant returns. Some of the more recent noteworthy international small oil company success stories include Addax Petroleum and Tanganyika Oil Company. Both were small independents until Addax Petroleum was acquired by China's Sinopec in August 2009 for $8 billion and Tanganyika Oil Company was acquired by China Petrochemical Corporation in December 2008 for $2.1 billion.

Leading Peer Group and Global Competitors
TAG (TSX: TAO) has a significant advantage over its peer group (TSX-V, Tier 1) and global competitors in several key areas. A few of the most significant advantages include the company's profitability, oil and gas discoveries and production facilities, and established production—with a significant portfolio of low-risk, high impact exploration prospects and encouraging tight oil prospects. Focused in New Zealand, the company also enjoys low political risk and some of the most advantageous fiscal terms worldwide, increasing production profits and reserve values.

Canadian companies deploying their North American expertise are enjoying considerable success exploring internationally, and shareholders have also experienced significant returns.		The Canadian-based international junior oil and gas universe is experiencing significant growth. Through ongoing exploration success, internationally focused companies have drastically outpaced their counterparts.