November 4, 2014 – Calgary, Alberta – Tanager Energy Inc. ("Tanager") advises it has
completed the sale of a 50% working interest in its Joffre oil and gas property located in
Alberta, Canada to Viking Investments Group, Inc. for $400,000. This sale provides
Tanager with the working capital to complete and place on production the first of four
suspended Devonian oil wells in the Joffre D-3 B oil pool. Tanager is planning to move
onto the location shortly and expects to have the well re-completed by the end of
November. The well is anticipated to initially produce approximately 100 barrels of oil
per day. Additional recompletions will follow depending on the results of this first well.
An independent third party evaluation by the Resources Evaluation and Advisory Group
of Deloitte LLP provided the following information on 100% of the Joffre Property.
Value $1000s
Reserves Undiscounted Discount 10%
Proved Reserves $ 4,797.7 $ 3,061.8
Proved + Probable $10,727.6 $ 7,051.9
Tanager and Viking are also evaluating additional oil and gas properties for acquisition
within the next 6 months.
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
Phone: 403-388-0969
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.