Tango Energy Inc. - Quaich Update

About this update from Tamarack Valley Energy Ltd.

[{"type":"text","content":"\n\n\n\nCALGARY, Dec. 22 /CNW/ - Tango Energy Inc. ("Tango") (TSXV - TEI) is\npleased to report the operator of the Quaich area has completed the pipeline\nand the 03-03 well has been placed on production at 1.0 million cubic feet per\nday at 1,290 psig flowing tubing head pressure on a 16/64 inch choke. The\noperator expects to step up the production rate in stages over the next few\nweeks and monitor production performance indicators.\n\n\nTango has a 60% interest in the pipeline and has a 60% interest in the\nQuaich 03-03 well. This well flow tested for five days at approximately 4\nmillion cubic feet per day at 710 psig flowing pressure. Tango and the\noperator have approximately 6,400 acres of contiguous land in the area in\nwhich Tango holds between a 50% and 60% working interest.\n\n\nTango's website can be found at www.tangoenergy.com . Tango Energy Inc.\nis listed on the TSX-Venture Exchange under the Symbol TEI.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release. This release\ncontains forward-looking information. By their nature, forward-looking\nstatements involve assumptions and known and unknown risks and uncertainties\nthat may cause actual future results to differ materially from those\ncontemplated. These risks include such things as volatility of oil and gas\nprices, commodity supply and demand, fluctuations in currency and interest\nrates, ultimate recoverability of reserves, timing and costs of drilling\nactivities and pipeline construction, new regulations and legislation and\navailability of capital. Tango does not undertake to update any such\nforward-looking statements except as required by law. Please refer to Tango's\nAnnual Report for more detail as to the nature of these risks and\nuncertainties. Although Tango believes that the expectations represented by\nthese forward looking statements are reasonable, there can be no assurance\nthat such expectations will prove to be correct.\n\n\nNatural gas volumes have been converted to a barrel of oil equivalent\n("boe") using six thousand cubic feet equal to one barrel unless otherwise\nstated. A boe conversion ratio of 6:1 is based upon an energy equivalency\nconversion method primarily applicable at the burner tip and does not\nrepresent a value equivalency at t...

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