Vancouver’s TAG Oil Announces Approval of Sale of New Zealand Assets

Vancouver, British Columbia-headquartered oil and gas explorer TAG Oil Ltd. has announced that Tamarind Resources Pte. Ltd. (Tamarind) has received approval from the New Zealand Overseas Investment Office in relation to the purchase of TAG’s New Zealand assets. The approval enables the transfer of ownership of TAG's Taranaki Basin assets to Tamarind NZ Onshore Limited, a wholly-owned subsidiary of Tamarind, an oil and gas company. Closing of the transaction is subject to the final pending approval from New Zealand Petroleum and Minerals for the transfer of operatorship to Tamarind.

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