TAG Oil Ltd (TAOIF)

[DANA1]

2012 Drill Program

Based on the Management Report & Information provided relating to the use of funds under the various offerings here is what TAG is reporting for 2012 in terms of upcoming drilling.

PMP 38156 (Cardiff/Cheal) - 5 vertical wells & 2 horizontal wells for 2012.

- This is 7 new wells for already established fields.

PEP 38748 (Sidewinder) - 5 vertical wells (2012/2013) & another $5 million for a Production Facility (2012)

- I guess this means the current faciltiy under production is already inadequate ??? It also looks like the planned Sidewinders 5-8 may bleed over into 2013 as there might not be production capabilities for any new wells.

PEP 38349 (Boar Hill - East Coast) - 1 stratigraphic well (2012) & 1 exploration well (2012)

PEP 38348 (Waitangi Hill - East Coast) - 3 stratigraphic wells (2012) & 1 exploration well (2012)

Looks like we are getting at least 2 major deep drills on the East Coast in the next year

PEP 50940 (Nick's Head - East Coast) - 1 stratigraphic well.

Looks very promising and exciting for the East Coast and if they can keep hitting at Cheal/Cardiff the next year could have huge upside for this company.