TAG Oil Provides Corporate Update
February 03 2009 - 1:40PM
PR Newswire (US)
VANCOUVER, Feb. 3 /PRNewswire-FirstCall/ -- Oil and gas producer
and explorer, TAG Oil Ltd. (TSX-V: TAO / OTCBB: TAGOF), announces
today that its common shares will begin trading on a consolidated
basis on February 4, 2009. Shareholders approved the consolidation
of the Company's common shares on the basis of five common shares
being consolidated into one common share at the Company's annual
and special meeting of shareholders held on December 19, 2008. As a
result of the share consolidation the Company's trading symbol on
the OTC Bulletin Board ("OTC BB") will change from "TAGOF" to
"TAOIF". The Company's trading symbol on the TSX Venture Exchange
will not change. The Company also announces that as of February 3,
2009 the Company has purchased 5,689,000 of its common shares under
its Normal Course Issuer bid launched in September 2008, leaving a
pre-consolidation balance of 1,894,858 shares (378,972 shares
post-consolidation) that the Company may purchase under its current
bid. As a result of the cancellation of 5,689,000 of the Company's
shares purchased to date under the normal course issuer bid and the
effects of the share consolidation the Company will have
approximately 17,188,416 common shares outstanding on February 4,
2009. Forward Looking Statements: Statements contained in this news
release that are not historical facts are forward-looking
statements that involve various risks and uncertainty affecting the
business of TAG Oil. Actual results may vary materially from the
information provided in this release. As a result there is no
representation by TAG Oil that the actual results realized in the
future will be the same in whole or in part as those presented
herein. Actual results may differ materially from the results
predicted, and reported results should not be considered as an
indication of future performance. Factors that could cause actual
results to differ from those contained in the forward-looking
statements, are set forth in, but are not limited to, filings that
the Company and its independent evaluator have made, including the
Company's most recent reports in Canada under National Instrument
51-102 and in the United States under Forms 20-F and 6K. The TSX
Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
DATASOURCE: TAG Oil Ltd. CONTACT: Garth Johnson, CEO, (604)
609-3350, http://www.tagoil.com/
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