TAG Oil Grants Stock Options

Vancouver, B.C. – February 8, 2011 – TAG Oil Ltd. (TSX-V: TAO) reports that the Company has granted a total of 1,255,000 incentive stock options to certain directors, officers, employees and consultants pursuant to its incentive stock option plan. These options are exercisable until February 8, 2016, at a price of $7.15 subject to vesting over a period of eighteen months.

Contact:

Dan Brown or Garth Johnson

TAG Oil Ltd., 1-604-682-6496

Website: https://tagoil.com/

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

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