TAG Oil advised that the AJM Petroleum Consultants report dated September 2008 and the Sproule International Limited report dated September 2007 indicate a total hydrocarbon potential having a best estimate volume of 12.6 billion barrels and 1.736 billion barrels of oil equivalent ("boe"), respectively, of undiscovered Hydrocarbon-In-Place.
Similarly the Company's internal report on PEP 38748 indicates a total hydrocarbon potential having a best estimate volume of 19.1 million stock tank barrels of undiscovered hydrocarbon in place effective December 17, 2009.
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