VANCOUVER, July 5, 2011 /PRNewswire/ - TAG Oil Ltd.
(TSXV: TAO) and (OTCQX: TAOIF) is
pleased to announce that the Company has successfully graduated to
the Toronto Stock Exchange (TSX) from Tier-1 of the TSX-Venture
Exchange. TAG Oil's common shares and warrants will begin trading
on the TSX on July 6, 2011, and will
continue to trade under the same trading symbols: "TAO" and
"TAO.WT". TAG Oil's common shares will also continue to trade on
the premier tier of the OTC market in the
United States, the OTCQX International, under the trading
symbol "TAOIF".
TAG Oil Ltd. is also pleased to announce that Mr. Keith Hill has joined the Company's board of
directors. Mr. Hill is the Chairman of Black Pearl Resources Inc.
(TSX: PXX) and ShaMaran Petroleum Corp. (TSX-V: SNM), and is the
CEO of Africa Oil Corp. (TSX-V: AOI). Prior to this, Mr. Hill was
instrumental in developing Valkyries Petroleum Corp. and Tanganyika
Oil Company Ltd., both highly successful international oil and gas
producers which were acquired by major oil companies. Mr. Hill
holds a Master of Science degree in Geology and Bachelor of Science
degree in Geophysics from Michigan State
University, as well as an MBA from the University of St. Thomas in Houston.
In order to facilitate the appointment of Mr. Hill to TAG's
board, Mr. John Vaccaro has tendered
his resignation. TAG wishes to express its thanks to Mr. Vaccaro
for his valuable contribution over the past several years. TAG
Oil's board now consists of Alex
Guidi, Garth Johnson,
Keith Hill and Ron Bertuzzi.
TAG also advises that the Company has granted a total of 500,000
incentive stock options to certain directors and officers. These
options are exercisable until July 5,
2016, at a price of $6.15 per
share, subject to one-third of the total options vesting every six
months from the date of grant over a period of eighteen months.
TAG Oil Ltd.
TAG Oil Ltd. (http://www.tagoil.com/) is a Canadian-based
production and exploration company with operations focused
exclusively in New Zealand. With
100% control over all its core assets, including oil and gas
production infrastructure, TAG is anticipating substantial oil and
gas production and reserve growth through development of several
light oil and gas discoveries. TAG is also actively drilling
high-impact exploration prospects identified across 2,712 sections
of land in the onshore Taranaki and East Coast Basins of
New Zealand's North Island.
In the East Coast Basin, TAG Oil is pursuing the major
unconventional resource potential estimated in the fractured shale
source-rock formations that are widespread over the Company's
acreage. These oil-rich and naturally fractured formations have
many similarities to North
America's Bakken Shale
source-rock formation in the successful Williston Basin.
SOURCE TAG Oil Ltd.