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Tango releases year-end reserves and operations update
CALGARY, March 12 /CNW/ - Tango Energy Inc. ("Tango") provides the following reserves data and op...
About this update from Tamarack Valley Energy Ltd.
[{"type":"text","content":"\n\n\n\nCALGARY, March 12 /CNW/ - Tango Energy Inc. ("Tango") provides the\nfollowing reserves data and operations update.\n\n\n2008 Reserves Report\n--------------------\n\n\nThe following tables provide information on Tango's petroleum oil and gas\nreserves and the present value of the estimated future net cash flow\nassociated with such reserves as at December 31, 2008. The information set\nforth below is derived from the Paddock Lindstrom and Associates Ltd. report,\nwhich has been prepared in accordance with the standards contained in the COGE\nHandbook and the reserves definitions contained in NI 51-101. It should not be\nassumed that the estimated future net cash flow shown below is representative\nof the fair market value of the Corporation's properties. There is no\nassurance that such price and cost assumptions will be attained and variances\ncould be material. "Gross" reserve quantities include the Company's share of\nreserves before royalty plus royalty income volumes. "Net" reserve quantities\ninclude the Company's share of reserves after royalty plus royalty income\nvolumes.\n\n\n-------------------------------------------------------------------------\n\n SUMMARY OF OIL AND GAS RESERVES\n AND NET PRESENT VALUES OF FUTURE NET REVENUE\n as of December 31, 2008\n\n-------------------------------------------------------------------------\n RESERVES\n-------------------------------------------------------------------------\n LIGHT AND NATURAL NATURAL GAS\n MEDIUM OIL GAS LIQUIDS\n-------------------------------------------------------------------------\n Gross Net Gross Net Gross Net\nRESERVES CATEGORY (mbbl) (mbbl) (mmcf) (mmcf) (mbbl) (mbbl)\n-------------------------------------------------------------------------\n\n-------------------------------------------------------------------------\nPROVED\n-------------------------------------------------------------------------\n Developed Producing - - 2,521 1,540 15.4 9.6\n-------------------------------------------------------------------------\n Developed Non-Producing - - 1,974 1,454 27.3 17.0\n-------------------------------------------------------------------------\n Undeveloped - - - - - -\n-------------------------------------------------------------------------\nTOTAL PROVED - - 4,495 2,994 42.6 26.6\n ------- ------- ------- -------...