TAG Oil Announces Definitive Agreement to Acquire Assets Located in Australia’s Surat Basin

VANCOUVER, Oct. 31, 2016, TAOIF, TAO, /PRNewswire/ Oil and gas exploration and production company, TAG Oil Ltd. (TSX: TAO and OTCQX: TAOIF, TAG ), is pleased to announce that its wholly owned Australian subsidiary, Cypress Petroleum Pty Ltd. ( Cypress ), has entered into a definitive asset purchase agreement (the Definitive Agreement ) with Southern Cross Petroleum & Exploration Pty Ltd. ( Southern Cross ), to acquire a 100% interest, subject to underlying royalties, in Petroleum Lease 17 ( PL 17 ) and all related assets, which
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