RE:Tag rumorsTAG Sell NZ Assts: Vancouver, B.C. November 6, 2018 TAG Oil Ltd. (TAG, TSX: TAO and OTCQX: TAOIF) announced today that it, along with certain of its subsidiaries in New Zealand, has entered into a definitive share and asset purchase agreement with Australian-based Tamarind Resources Pte. Ltd. (Tamarind), and certain of its subsidiaries (the SPA). This arms length transaction is for the sale of substantially all of TAGs Taranaki Basin assets and operations in New Zealand (the Transaction). The sale will include TAGs 100% working interests in: PMP 38156 (Cheal and Cardiff), PMP 53803 (Sidewinder), PMP 60454 (Supplejack), PEP 51153 (Puka), PEP 57065 (Waitoriki) and TAGs 70% interest in PMP 60291 (Cheal East) and PEP 54877 (Cheal East) (collectively, the NZ Assets). Formal closing of the Transaction is expected in calendar Q1 2019, depending on timing of regulatory approvals. Transaction Highlights Cash payment to TAG of US$30 million at closing. TAG to receive a 2.5% gross overriding royalty on future production from all NZ Assets. Up to US$5 million in event specific payments payable on achieving various milestones (first milestone, grant of PMP 60454 (Supplejack) conversion, has already been achieved triggering payment of US$500,000 at closing). The Transaction will be funded from Tamarinds available financial resources. Commenting on the Transaction, Toby Pierce, CEO of TAG said, We are very pleased to announce this transaction for TAGs New Zealand assets, which presents an attractive premium to the current market value of the assets for TAG shareholders. Further, the royalty and event specific payments provide continued exposure to future upside from the assets and Tamarinds aggressive capital program.