TAG Oil Graduates to Tier-1 on TSX Venture Exchange

    VANCOUVER, Sept. 29 /CNW/ - Canadian oil and gas production and
exploration company TAG Oil Ltd. (TSX-V: TAO and OTCBB: TAGOF) announced today
that, it has achieved Tier 1 status on the TSX Venture Exchange.
    As defined in TSXV Policy 2.1, Tier 1 is the TSX Venture Exchange's
premier tier and is reserved for the most advanced listed companies with the
most significant financial resources. Tier 1 listed companies also benefit
from decreased filing requirements and improved service standards.

    TAG Oil Ltd. is an international oil and gas production and exploration
company with holdings in the emerging Taranaki Basin, New Zealand. TAG is
poised to grow through existing profitability, and through development and
exploration on the Company's high-graded onshore Taranaki acreage.

    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, gje@tagoil.com, (604) 609-3350

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