TAG Oil Accelerates the Expiry of Warrants

TAG Oil Ltd., announces that the Company has given notice to accelerate the expiry of the certain outstanding share purchase warrants, currently exercisable at US$0.60 per share, that TAG issued on March 18, 2005. Warrant holders are cautioned that if they do not exercise their warrants on or before 4:30 p.m., Vancouver, B.C. time, September 26, 2005 in the manner provided for in the terms and conditions attached to the warrants, their warrants will expire and will no longer be exercisable. Assuming that all of the remaining 8,946,500 warrants are exercised, there will be 35,092,581 shares issued and outstanding (36,435,076 fully diluted).TAG Oil Ltd. is a Canadian-based exploration company that is exploring for oil and natural gas in New Zealand. For additional information please visit our website at www.tagoil.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.


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