TAG Oil Ltd (TAOIF)

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TAG Oil Announces a $25 Million Bought Deal Offering
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NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES.


TAG Oil Ltd. (the "Company" or "TAG Oil") (TSX:TAO)(OTCQX:TAOIF) is pleased to
announce that it has entered into an agreement with Dundee Securities Ltd., on
behalf of a syndicate of underwriters co-led by Dundee Securities Ltd. and
Casimir Capital Ltd., and including Credit Suisse Securities (Canada) Inc.,
Cormark Securities Inc., Mackie Research Capital Corporation and M Partners Inc.
(collectively, the "Underwriters"), pursuant to which the Underwriters have
agreed to purchase, on a bought deal basis for resale to the public, 5,700,000
common shares (the "Common Shares") of the Company at a price of $4.40 per
Common Share for aggregate gross proceeds of $25,080,000 (the "Offering").


The Company has also granted the Underwriters an option to purchase, on the same
terms as the Offering, up to an additional 855,000 Common Shares at a price of
$4.40 per Common Share for additional gross proceeds of $3,762,000 (the
"Over-Allotment Option"). The Over-Allotment Option is exercisable in whole or
in part at any time prior to 30 days after the Closing Date (as defined herein).
In the event that the option is exercised in its entirety, the aggregate gross
proceeds of the Offering will be approximately $28,842,000.


Net proceeds of the Offering shall be primarily used to:



-- carry out and accelerate Taranaki Basin drilling, completion and
commercialization projects, including TAG's deep Kapuni projects;
-- build TAG's East Coast basin unconventional project team;
-- build a longer-term, clearly defined and executable exploration and
development program in the East Coast and Canterbury Basins in New
Zealand;
-- increase TAG's land position in the East Coast and Taranaki Basins; and
-- for general corporate purposes.



Closing of the Offering is expected to occur on or about November 13, 2013 (the
"Closing Date") and is subject to certain conditions including, but not limited
to, the receipt of all necessary approvals including the approval of the Toronto
Stock Exchange and the securities regulatory authorities.


The Common Shares will be offered by way of a short form prospectus to be filed
in all of the provinces of Canada (other than the Province of Quebec) pursuant
to National Instrument 44-101 Short Form Prospectus Distributions and in the
United States on a private placement basis pursuant to an exemption from the
registration requirements of the United States Securities Act of 1933, as
amended.


This press release is not an offer or a solicitation of an offer of securities
for sale in the United States. The Common Shares have not and will not be
registered under the U.S. Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or an applicable
exemption from registration.


TAG Oil Ltd.

TAG Oil Ltd. (http://www.tagoil.com/) is a Canadian-based production and
exploration company with operations focused exclusively in New Zealand. With
100% ownership over all its core assets, including extensive oil and gas
production infrastructure, TAG is enjoying significant organic value creation
through development and appraisal drilling of several light oil and gas
discoveries and through prospect generation across an extensive acreage
position. As New Zealand's leading explorer, TAG actively drills high-impact
conventional and unconventional exploration prospects identified in the Taranaki
Basin, East Coast Basin and Canterbury Basin that covers more than 2,669,780 net
acres of land, prospective for major discovery in New Zealand.

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