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Tanager Energy Inc. is a Canadian based corporation whose common shares are traded on the TSX Venture Exchange under the symbol “TAN”.
Tanager activities concentrate on the acquisition, development and production of petroleum and natural gas. Currently, Tanager is focused on opportunities such as suspended wells, by-passed pay zones, enhanced oil recovery, with potential for further production with the appropriate technologies.
The basic philosophy is to expand the corporation assets so shareholders receive an increase in the value of their investment through defined financial goals and strategies.
Project Statement
Tanager holds 100% interest in this project (Leduc D-3 Oil Unit No. 1) and is the operator. This Unit consists of 4 suspended oil wells and 1 suspended water injection well.
The goal is to re-enter these suspended wells and place them back on production, as required, dependent on the production achieved. The first well is expected to be recompleted in the 4th quarter of 2013., Production from this well is estimated at 50 BOE per day.
Prolific Oil and Gas Area
The Unit is located within a prolific oil and gas production area in Central Alberta. This Unit is an oil reservoir which has already produced over 6 million barrels of oil and 26 BCF of gas from 7 wells according to the Alberta Energy Regulator (AER).
Devonian Stratigraphy Pictorial Representation not to scale
Reserves Evaluation
Note: The following evaluation is for 100% interest in the Unit.
| Reserves | Light Oil (Mbarrels) | Natural Gas (MMCF) | TOTAL MBOE |
| Proved | 191.5 | 1128.1 | 379.5 |
| Probable | 185.6 | 1026.2 | 356.7 |
| Total P+P | 377.1 | 2154.3 | 736.2 |
| Value $M | Undiscounted | Discount 10% | Discount 15% |
| Proved | $4,797.7 | $3,061.8 | $2,529.0 |
| Proved + Probable | $10,727.6 | $7,051.9 | $5,957.1 |
Evaluation by the Resources Evaluation and Advisory Group of Deloitte LLP
Share Structure
Total Issued &Outstanding 43,454,024
Management 19.0%