TAG Oil Ltd. (OTCBB: TAGOF), announced today that having received shareholder approval at a Special Meeting held on April 7, 2004, management will implement a forward stock split on a 1.5 for 1 basis (one and a half post-split shares for every one pre-split share). The record date for the split has been set for April 27, 2004 and TAG stock will commence post-split trading on May 4, 2004. Garth Johnson, TAG's Chief Financial Officer, commented, "The Board of Directors' decision to split the stock was made in an effort to make our shares more accessible to a broader range of investors. We believe the 1.5 for 1 ratio will help accomplish this goal while ensuring TAG Oil has the flexibility to consider other such future corporate initiatives." As a result of the split, the Company's 7,978,061 existing common shares will be increased to 11,967,091 common shares. Computershare Trust Company of Canada will automatically issue additional certificates to shareholders of record.