This is the form of material change report required under section 85(1) of the Securities Act.
FORM 51-102F3
Securities Act
MATERIAL CHANGE REPORT UNDER SECTION 85(1) OF THE ACT
| Item 1. | Name and Address of Company | |
| Trans-Orient Petroleum Ltd. | ||
| 1407-1050 Burrard Street | ||
| Vancouver, B.C. V6Z 2S3 | ||
| Item 2. | Date of Material Change | |
| On or about March 29, 2005 | ||
| Item 3. | News Release | |
| March 29, 2005, Vancouver, B.C. | ||
| Item 4. | Summary of Material Change |
Trans-Orient Petroleum Ltd., (OTCBB:TOPLF) announced today that it has purchased 500,000 units of TAG Oil Ltd. (“TAG”) (OTCBB:TAGOF) for US$0.40 per unit as part of TAG’s recently completed private placement.
| Item 5. | Full Description of Material Change |
Vancouver, BC, March 29, 2005 - Trans-Orient Petroleum Ltd., (OTCBB:TOPLF) announced today that it has purchased 500,000 units of TAG Oil Ltd. (“TAG”) (OTCBB:TAGOF) for US$0.40 per unit as part of TAG’s recently completed private placement. Each unit consists of one share and one share purchase warrant. Each warrant is exercisable to purchase one common share at a price of US$0.60 in the first year and US$0.80 in the second year, subject to an accelerated expiry if a trigger price is reached of US$1.00 in year one and US$1.20 in year two, in which event the warrant will expire thirty days after notice is given to the holder that the trigger price was reached, if not exercised.
Currently, Trans-Orient Petroleum Ltd. has 2,516,823 shares outstanding. Trans-Orient has acquired the shares for investment purposes.
For further Information Contact:
Dan Brown of Trans-Orient Petroleum Ltd. at 604-682-6496
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| Item 6. | Reliance on subsection 7.1(2) or (3) of National Instrument 51-102 | |
| N/A | ||
| Item 7. | Omitted Information | |
| None | ||
| Item 8. | Executive Officer | |
| Peter Loretto, President and Chief Executive Officer | ||
| (604) 682-6496 | ||
| Item 9. | Date of Report | |
| March 29, 2005 | ||
| “Peter Loretto” | ||
| Peter Loretto, President/Chief Executive Officer | ||
| Place of Declaration: Vancouver, British Columbia | ||
