$re = '/(?s)<tag>(?:<\/tag>(*SKIP)(*FAIL)|.)*?ABC.*?<\/tag>/';
$str = '...<tag>a a.__aABC&*</tag>aaa<tag>ffff</tag>...
but not outside (false-positive):
...<tag>a a.__a&*</tag>ABC<tag>ffff</tag>...
';
preg_match_all($re, $str, $matches, PREG_SET_ORDER, 0);
// Print the entire match result
var_dump($matches);
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for PHP, please visit: http://php.net/manual/en/ref.pcre.php