Ashley Garnot

TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) has conducted a detailed evaluation of the overall business environment and opportunities for the Company to create long-term value for its shareholders following the New Zealand asset sale. TAG’s Board and management have determined that a return of capital to its shareholders in the amount of C$0.30 per common share (~C$25.6 million in cash), in accordance with Canadian income tax law, is in the best interest of shareholders. The return of capital is scheduled to be paid on April 14, 2020 (payment date) to all shareholders of record of the common shares of

TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to provide the following corporate update. TAG’s current cash balance stands at ~C$41 million following a royalty payment of ~C$0.25 million for the quarter ended December 31, 2019. TAG holds a 2.5% gross overriding royalty on all future production from the New Zealand assets that it sold to Tamarind Resources Pte. Ltd. in September 2019. Further details on TAG’s royalty and remaining milestone payments from New Zealand can be found in the management information circular dated November 30, 2018, which is filed under TAG’s SEDAR profile at www.sedar.com.   Management

TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to report its second quarter results for the interim period ending September 30, 2019, which includes completing the sale of TAG’s New Zealand assets (the “Transaction”).TAG is well positioned and is continuing to look at all available options in oil and gas to determine the preferred use of the proceeds from the Transaction in order to maximize value for shareholders. Q2 2020 HIGHLIGHTS   On September 25, 2019, TAG announced the closing of the Transaction. Following closing of the Transaction, TAG received approximately US$30 million in cash and will continue

TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to provide this corporate update following closing of the sale of its New Zealand assets (the “Transaction”). Post the closing of the Transaction and certain adjustments for working capital, TAG has been significantly repositioned with a cash balance of ~C$41 million, ongoing cashflow from the 2.5% gross overriding royalty on all future production from the New Zealand assets sold, and up to US$4.5 million in future event specific payments payable on Tamarind Resources Pte. Ltd. achieving certain milestones. TAG has received an initial payment of US$0.77 million for the royalty,

TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to announce the results from its 2019 annual general meeting of shareholders (the “Meeting”) held in Vancouver, B.C. on September 26, 2019. All seven of the nominees listed in TAG’s management information circular dated August 26, 2019 that were proposed by management for election to the board of directors at the Meeting were duly elected. The directors will remain in office until the next annual meeting of the Company’s shareholders or until their successors are elected or appointed.    The results of the vote on the election of the directors at

TAG Oil Ltd. (TSX: TAO, OTCQX: TAOIF) is pleased to announce that it has closed its previously announced sale of substantially all of its New Zealand assets to Tamarind Resources Pte. Ltd. (the “Transaction”). Following closing of the Transaction, TAG has ~US$30 million in cash and will continue to have exposure to the potential upside from all New Zealand assets sold as follows: 5% gross overriding royalty on production from PMP 38156 (Cheal and Cardiff), PMP 53803 (Sidewinder), PMP 60454 (Supplejack), PEP 51153 (Puka), PEP 57065 (Waitoriki), PMP 60291 (Cheal East) and PEP 54877 (Cheal East). Up to US$5 million

TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to provide the following update on the sale of its New Zealand assets to Tamarind Resources Pte. Ltd. (“Tamarind”). TAG and Tamarind have mutually agreed to extend the closing date of the transaction under the share and asset purchase agreement. All necessary approvals have been granted and TAG and Tamarind are working on the final items necessary to close the transaction. Both TAG and Tamarind are committed to completing the sale and are continuing to work diligently to close the transaction within in a timely manner. TAG will provide further

TAG Oil Ltd. is pleased to report its first quarter results for the interim period ending June 30, 2019, which includes a 32% increase in revenues generated from oil and gas sales along with a 16% increase in net daily production. Q1 2020 HIGHLIGHTS   At June 30, 2019, the Company had $7.2 million (March 31, 2019: $1.9 million) in cash and cash equivalents and $6.4 million (March 31, 2019: $0.06 million) in working capital. Average net daily production increased by 16% for the quarter ended June 30, 2019, to 1,413 boe/d (79% oil) from 1,218 boe/d (80% oil) for

TAG Oil Ltd. is pleased to announce that final approval has been received from New Zealand Petroleum and Minerals for the sale and transfer of TAG’s operatorship to Tamarind Resources Pte. Ltd (“Tamarind”) of its New Zealand operations. TAG and Tamarind are working diligently to close the transaction within approximately the next 30 days. Additional information about the transaction can be found in the management information circular dated November 30, 2018, which is filed under TAG’s SEDAR profile at www.sedar.com. About TAG Oil Ltd. TAG Oil Ltd. (https://tagoil.com/) is an international oil and gas explorer with established high netback production,

TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF) is pleased to provide this corporate update on its operations in New Zealand. Transaction with Tamarind TAG and Tamarind Resources Pte. Ltd (“Tamarind”)are working diligently to close the transaction in a timely manner and have mutually agreed to extend the closing date of the transaction under the share and asset purchase agreement to on or around August 1, 2019.  Final approval from New Zealand Petroleum and Minerals for thesale and transfer of TAG’s operatorship to Tamarind of its New Zealand operations is still pending. Additional information about the transaction can be found