TAG Oil Provides Drilling and Corporate Update



    VANCOUVER, June 26 /CNW/ - 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.





For further information:

For further information: Garth Johnson, CEO, (604) 609-3350, Website:
http://www.tagoil.com


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