Tango Energy Inc. - Stock Option Grants

About this update from Tamarack Valley Energy Ltd.

[{"type":"text","content":"\n\n\n\nCALGARY, Feb. 4 /CNW/ - Tango Energy Inc. ("Tango") (TSXV - TEI) has\ngranted an aggregate of 1,860,000 options to eligible participants pursuant to\nits shareholder approved Stock Option Plan. All of the options are exercisable\nfor a five-year term at $0.13 per common share with one third vesting\nimmediately and one third on each of the next two anniversary dates.\n\n\nOf the options granted, 900,000 are to officers with the remaining grants\nto employees and consultants. Following today's grant, 1,197,462 common share\noptions remain reserved for issuance pursuant to Tango's Stock Option Plan.\n\n\nTango Energy Inc. is listed on the TSX-Venture Exchange under the Symbol\nTEI. Tango's website is www.tangoenergy.com.\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 the wellhead. This conversion conforms with\nCanadian Securities Regulators National Instrument 51-101 Standards of\nDisclosure for Oil and Gas Activities ("NI 51-101"). Boe's may be mislead...

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