TAG Oil's CEO to Resign

TAG Oil says that, for personal reasons, Mr. Drew Cadenhead has tendered his resignation as Chief Executive Officer, President and as a Director of the Company, effective September 1, 2007. Mr. Garth Johnson, a TAG Director and the Chief Financial Officer, has accepted the position of Chief Executive Officer and TAG's board will be evaluating the Company's executive management needs. Mr. Cadenhead will remain with the Company in a consulting role during an agreed transition period to ensure an orderly hand-off of his duties.

Mr. Cadenhead commented "I have enjoyed my time with TAG and I feel that TAG has now established itself as an oil producer in New Zealand. The Cheal Production Facility, now fully completed and commissioned, will provide the Company with a good foundation for future activities. Garth has been instrumental in managing the Company for over ten years and has extensive corporate and international oil and gas experience therefore I am confident that TAG is in good hands."

Mr. Johnson commented "We appreciate all the efforts that Drew has invested in TAG since joining the Company in 2003. He has successfully carried out TAG's capital raising, acquisition and exploration strategy and we wish Drew all the best in his future endeavors. I am also looking forward to taking on this new role and going forward, I am confident that we can leverage TAG's New Zealand assets to the benefit of the shareholders."

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