Oct 14 (Reuters) - TAG Oil Ltd TAO.V :
* TAG OIL ANNOUNCES SALE OF AUSTRALIAN ASSETS AND OPERATIONS
* TAG OIL LTD - DEAL PROVIDES CASH PAYMENT TO TAG OIL OF A$2.5 MILLION AT CLOSING
* TAG OIL LTD - TRANSACTION WILL BE FUNDED FROM LUCO'S AVAILABLE FINANCIAL RESOURCES
* TAG OIL - AGREEMENT WITH LUCO ENERGY PTY, OWNED BY ILWELLA PTY. LTD. AND AJ LUCAS SERVICES, TO DIVEST ITS AUSTRALIAN ASSETS AND OPERATIONS
* TAG OIL LTD - ENTERED DEFINITIVE PURCHASE AND SALE AGREEMENT WITH LUCO ENERGY TO DIVEST ITS AUSTRALIAN ASSETS AND OPERATIONS