CALGARY, ALBERTA–(Marketwired – July 2, 2015) – Tanager Energy Inc., (TSX VENTURE:TAN) (the “Corporation”) advises that it has closed the purchase of a 39% working interest in an oil and gas property for $110,000. The property consists of one producing CBM gas well, one producing Mannville gas well, and one suspended Devonian D3 oil well. In addition the purchase includes a 50 percent interest in 2 sections of P&NG rights currently undeveloped.
An evaluation by GLJ Petroleum Consultants effective January 1, 2015 provided the following information:
|Proved Producing||Total Proved||Proved Plus Probable|
|Natural Gas (MMcf)||25.1||481.1||607.1|
|Natural Gas Liquids (Mbbl)||0.4||0.4||0.4|
|Oil Equivalent (Mboe)||4.6||81.0||101.7|
|10% Net Present Value (M$)||10.0||29.0||115.0|
Tanager Energy Inc. is a Lethbridge, Alberta based corporation engaged in the exploration for oil and gas and minerals with its Operations Office in Calgary Alberta. The Corporation’s common shares are listed on the TSX Venture Exchange under the trading symbol “TAN”.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Tanager Energy Inc.
John Squarek B.Sc. P. Eng. MBA
President and Chief Executive Officer