First Joffre Well Pressure Survey Confirms Reservoir has returned to Near Original Reservoir Pressure.
December 22nd, 2014 – Calgary, Alberta – Mr. John Squarek, President & CEO of Tanager Energy Inc. (“Tanager”), is pleased to report that Tanager has completed the first step towards the re-activation of its Joffre D3 B Pool which consists of 4 suspended oil wells and 1 suspended water injection well.
On Saturday, December 20, Tanager completed the re-entry and downhole pressure survey of the first well to determine the current reservoir pressure, a critical element in determining the scope and anticipated production of this suspended oil pool. The survey confirmed the reservoir pressure has returned to 94% of the original pressure (i.e. the pressure that existed when the pool was discovered in 1986) due to the active water drive in the pool. With the reservoir at near original pressure, it is expected the well will flow oil and gas to surface on testing. It should be noted that the first well in this pool produced at over 2100 barrels of oil per day for the first 7 months.
The next step in the re-activation process is to complete a production test to confirm the productivity of the pool, which will occur during the week of January 5th 2015 as service crews are unavailable for the remainder of December due to the holiday season. The production testing may take up to 10 days to complete.
Tanager Energy Inc. is a Lethbridge, Alberta based corporation engaged in the exploration for oil and gas and minerals, with an operations office in Calgary, Alberta. The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "TAN".
For further information please contact:
John Squarek BSc, P. Eng., MBA
President and Chief Executive Officer
Forward Looking and Cautionary Statements
Certain statements contained in this press release may constitute forward-looking statements. All statements other than statements of historical fact may be forward-looking statements. Forward‐looking statements are necessarily based upon assumptions and judgments with respect to the future. In some cases, forward‐looking statements can be identified by terminology such as “may”, “will”, “should”, “expect”, “projects”, “plans”, “anticipates” and similar expressions. These statements represent management’s expectations or beliefs concerning, among other things, future operating results and various components thereof affecting the economic performance of Tanager. Undue reliance should