VANCOUVER,
Oct. 25 /PRNewswire-FirstCall/ - TAG
Oil Ltd. (TSX-V: TAO) reports that Mr. Michael Hart has tendered his resignation as a
director of the Company. Mr. Hart's resignation is at the request
of the TSX-Venture Exchange ("TSX-V") due to the discovery of a
filing which, unknown to Mr. Hart or the Company, was required to
be made relating to Mr. Hart's financial situation. TAG Oil would
like to thank Mr. Hart for his valuable contributions to the
Board.
TAG Oil Ltd.
TAG Oil Ltd. is a Canadian-listed company (TSX-V:TAO) with
extensive operations in New
Zealand. With 100% control over all its core assets,
including production infrastructure, TAG is anticipating
significant production growth through development of multiple oil
and gas discoveries in the Taranaki Basin and through high-impact
exploration drilling on prospects identified over 3,500 sections of
land.
In the East Coast basin, TAG is pursuing the major
unconventional resource potential that has been demonstrated in the
Waipawa Black Shale and Whangai Shale source-rock formations that
are widespread across the Company's acreage. The geological
characteristics of these oil-rich, naturally fractured, thermally
mature formations compare favorably to fractured shale formations
such as the Bakken Shale in the Williston Basin and Liassic Shale
in the Paris Basin.
Cautionary Note Regarding Forward-Looking Statements
Statements contained in this news release that are not
historical facts are forward-looking statements that involve
various risks and uncertainty affecting the business of TAG Oil.
Actual results may vary materially from the information provided in
this release. As a result, there is no representation by TAG Oil
that actual results realized in the future would be the same in
whole or in part as those presented herein. Actual results may
differ materially from the results predicted, and reported results
should not be considered as an indication of future performance.
Factors that could cause actual results to differ from those
contained in the forward-looking statements are set forth in, but
are not limited to, filings that the Company and its independent
evaluator have made, including the Company's most recent reports in
Canada under National Instrument
51-102.
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.
SOURCE TAG Oil Ltd.
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