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Tango Energy Inc. Announces Well Test Results and Acquisition of Additional Lands
CALGARY, Dec. 12 /CNW/ - Tango Energy Inc. ("Tango" : TSXV - TEI) announced today initial test re...
About this update from Tamarack Valley Energy Ltd.
[{"type":"text","content":"\n\n\n\nCALGARY, Dec. 12 /CNW/ - Tango Energy Inc. ("Tango" : TSXV - TEI)\nannounced today initial test results from a well in Southern Alberta in which\nTango has a 60% working interest. The material change report with respect to\nthese test results dated November 15, 2007 (the "Material Change Report") was\npreviously filed on a confidential basis with the Alberta Securities\nCommission and the British Columbia Securities Commission, being the\nsecurities commissions of the jurisdictions in which Tango is a reporting\nissuer. Tango filed the Material Change Report on a confidential basis because\nof a public land sale held today (the "Sale") at which it anticipated making a\nbid to acquire additional lands in the area of the test well. Tango is pleased\nto announce that it was successful at the Sale, having acquired a 50% working\ninterest in two additional sections of land that it considers prospective in\nthis play. Additional seismic work, as well as production from the recently\ncompleted well, will help to determine the overall magnitude of this\ndiscovery.\n\n\nWith respect to the initial test results from the above-noted well, the\nwell was flow tested for five days at approximately 4 million cubic feet per\nday ("mmcf/d") at 710 psi flowing pressure. An independent reserves evaluation\nwill be undertaken, and additional testing will be conducted as soon as it is\npractical. The results of this evaluation will assist to provide estimates as\nto the reserves and production capacity associated with this well and its\nultimate economic impact on Tango.\n\n\nTango expects that this well will be tied-in and placed on production\nduring the second quarter of 2008. Tango and its partner own interests in\n1,920 acres of lands considered prospective for additional development\noffsetting this discovery.\n\n\nTango is listed on the TSX Venture Exchange under the symbol "TEI".\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\n\n\nor accuracy of this release.\n\n\nThis release contains forward-looking information. By their nature,\nforward-looking statements involve assumptions and known and unknown risks and\nuncertainties that may cause actual future results to differ materially from\nthose contemplated. These risks include such things as volatility of...