TAG Oil Provides Update on Corporate Activities

VANCOUVER, BC, April 11, 2022 /CNW/ - TAG Oil Ltd. ("TAG Oil" or the "Company") (TSXV: TAO) (OTCQX: TAOIF) is pleased to provide the following update on its activities to acquire certain assets in Egypt and the wider Middle East and North Africa ("MENA") region.

TAG Oil is continuing to pursue several acquisition projects in Egypt and explore other strategic opportunities in the MENA area. While significant progress has been made on these efforts by the Company, TAG Oil expects that more time will be required to complete one or more of these acquisitions. Further information on these efforts will be provided by TAG Oil in due course.

Toby Pierce, CEO of TAG Oil, commented "With travel restrictions largely behind us, our management team will continue to spend a significant amount of time on the ground in Egypt, and the broader MENA area, meeting with the appropriate government and industry representatives to advance our discussions. We look forward to concluding our acquisitions and aggressively growing our business. Finally, TAG Oil would like to thank our shareholders for their patience throughout this process, which has been longer than anticipated, but we believe will be worth it."       

About TAG Oil Ltd.

TAG Oil (http://www.tagoil.com/) is a Canadian based international oil and gas exploration company with a focus on opportunities in the Middle East and North Africa.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws, including statements with regard to the Company's operations and potential strategic opportunities. These statements address future events and conditions and are reliant on assumptions made by the Company's management, and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. As a result of these risks and uncertainties, and the assumptions underlying the forward-looking information, actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement, except as required by applicable law.

SOURCE TAG Oil Ltd.

Chris Beltgens, Vice President, Corporate Development, Phone: [phone], Email: [email protected], Website: http://www.tagoil.com/