TAG Oil acquires Kawakawa oil shale acreage in New Zealand

New Zealand oil and gas producer, TAG Oil Ltd. (TSX-V: TAO) is pleased to announce that the Company has been awarded a 100% interest in a 61,900-acre permit extension to the Company's PEP 38349 permit, located in the southern portion of the onshore East Coast Basin, New Zealand. 

When combined with the original PEP 38349, this extension creates a combined 1,695,266-acre exploration area and a total 100% controlled position of 2,399,714 acres within the basin. This acquisition further solidifies TAG's first-mover position in this oil shale frontier at a time of rapidly increasing interest by Asian-based and international investors in New Zealand's petroleum sector. This growing focus has been fueled by New Zealand's recent major discovery announcements, and the recent chain of significant transactions spreading across unconventional technology-driven shale plays around the world. 

"Kawakawa is an attractive new play area for TAG and will be a keen focus within our East Coast prospect portfolio. Strong oil indications have been recorded in the immediate area from both outcrop and seeps and geochemical analysis indicates conclusively that this oil was generated either solely from Waipawa Black Shale or from a combination of Whangai Shale and the Waipawa Black Shale formations," commented Garth Johnson, TAG's Chief Executive Officer.

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