TAG At A Glance

2013: Optimized and Operating at Full Force

• New Zealand market drives value of TAG's oil up to 30% higher, and gas up to 100% higher, than Q1 2013 North American prices.
• TAG Oil continues its Taranaki Basin drilling program success with six consecutive Sidewinder oil and gas discoveries, and more in the pipeline.
• $30 million Cheal and Sidewinder infrastructure expansion successfully completed on time and on budget, giving TAG the capacity to fully commercialize its onshore Taranaki Basin assets.
• New exploration opportunities are pursued in the high-impact Kapuni Formation and the vast East Coast.
• Control of approximately $100 million in critical infrastructure positions TAG as a prominent New Zealand producer.

2012: Exceeding Expectation & Setting Higher Goals

• TAG looks ahead: prepares to drill in the East Coast Basin, and expects to exit calendar year 2012 producing more than 4,000 boe (50% oil) per day
• 19 successful Taranaki Basin wells drilled in a row
• Rolling upgrades & infrastructure increase production capabilities, with more in the works
• National Bank Financial and Credit Suisse brings analyst coverage to nine
• Company sees a 227% increase in production revenue, 300% increase in reserves
• TAG is featured in The Street, Forbes, Business News Network
• Significant infrastructure and workover begins to free up excess behind-pipe oil and gas
• Permits acquired for nearly two million acres in the East Coast and Canterbury basins
• TAG closes $46,345,750 bought deal offering at $10.45 per share
• Cheal B-7 becomes TAG's 14^th consecutive successful oil and gas well to come on stream

2011: Growing Successes

• New light oil discoveries at Cheal
• TAG graduates from TSX-V to the Toronto Stock Exchange (TSX)
• Light oil discoveries at Sidewinder-2, 3 and 4 in quick succession
• Sidewinder Production Facility breaks ground
• Independent Sproule Int'l increases TAG's Taranaki reserve estimates
• Trading on OTCQX International in the U.S.
• New multi-zone light oil discovery with Cheal B4-ST
• Cheal field drilling begins, targeting production and reserve growth

2010: Discovery and Production

• TAG flows oil from bypassed discovery
• Cardiff gas/condensate discovery acquired
• Operations moving at fast past
• TAG proves technology-driven results
• Drilling validates tight oil prospects
• KawaKawa tight oil prospect secured

2009: Transformation

• TAG acquires Trans-Orient, 100% of tight oil play
• TAG Acquires 100% of Cheal oil discovery
• Operating costs reduced by 75% to $19 per barrel
• Net cash flow increases by approximately 300%
• Core acreage in the Taranaki Basin expanded by 18,465 acres
• TAG looks forward, restructures

2008: Retrenching

• TAG pulls up stakes in Canterbury
• Cheal dispute settled favorably with operator Austral Pacific
• Exploration activity slows, high risk prospects dropped, G and A slashed
• Oil prices dip in midst of financial crisis

2007: Highs and Lows

• TAG Oil becomes an oil producer with official opening of Cheal
• 13,643 net barrels of Cheal oil generated only $938,838 in gross revenue
• High commodity prices and licensing disagreements create new challenges

2006: Growth

• The concept of Peak Oil widely accepted
• A diverse portfolio of prospects established
• TAG flows first oil
• More onshore Taranaki permits acquired
• Canaccord Adams raises $30 million for TAG with institutions to excel exploration campaign

2005: Pieces in Place

• TAG acquires permit interests, increasing its land base to 1,512,710 net acres
• Complex operations, including 3-D seismic and a detailed geochemical survey, managed in-house
• More aggressive wildcat exploration drilling begins
• Canaccord raises $15 million for TAG with institutions enhances balance sheet
• Secures listing on TSX-V
• Canaccord Capital Corporation sponsors TAG

2004: Establishing Roots

• TAG increases its New Zealand acreage portfolio
• Completes the largest onshore seismic survey ever acquired in New Zealand
• Prospects identified in the Taranaki and Canterbury Basin

2003: Implementation

• TAG continues to build up permit stakes in the Taranaki Basin
• Drilling planned
• More start-up Capital raised

2002: Emergence

• TAG embarks on a strategic initiative to acquire projects in New Zealand
• Still in the minority of those touting the concept of Peak Oil
• TAG Oil is born