VANCOUVER, Aug. 20 /CNW/ - TAG Oil Ltd. (TSX-V: TAO / OTCBB: TAGOF)
announced today that, for personal reasons, Mr. Drew Cadenhead has tendered
his resignation as Chief Executive Officer, President and as a Director of the
Company, effective September 1, 2007. Mr. Garth Johnson, a TAG Director and
the Chief Financial Officer, has accepted the position of Chief Executive
Officer and TAG's board will be evaluating the Company's executive management
needs. Mr. Cadenhead will remain with the Company in a consulting role during
an agreed transition period to ensure an orderly hand-off of his duties.
Mr. Cadenhead commented "I have enjoyed my time with TAG and I feel that
TAG has now established itself as an oil producer in New Zealand. The Cheal
Production Facility, now fully completed and commissioned, will provide the
Company with a good foundation for future activities. Garth has been
instrumental in managing the Company for over ten years and has extensive
corporate and international oil and gas experience therefore I am confident
that TAG is in good hands."
Mr. Johnson commented "We appreciate all the efforts that Drew has
invested in TAG since joining the Company in 2003. He has successfully carried
out TAG's capital raising, acquisition and exploration strategy and we wish
Drew all the best in his future endeavors. I am also looking forward to taking
on this new role and going forward, I am confident that we can leverage TAG's
New Zealand assets to the benefit of the shareholders."
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, email@example.com, (604) 609-3350