Tanager Energy Announces Strategic Plan and Continuance to BC

CALGARY, Alberta, March 05, 2019 (GLOBE NEWSWIRE) -- Tanager Energy Inc. (“Tanager” or the “Corporation”) (TSX-V: TAN, OTCQB: TANEF) announced today the Company has obtained the approval by its directors of a strategic plan for the balance of the 2019 fiscal year.  Following its recent announcement of the appointment of a new CEO, the plan includes the following principal elements:

• Place Tanager’s three (3) Polk County, Texas Yegua formation wells (Ranger, Stampede and Jones) into production via installation of gas pipelines.
• Drill and complete two (2) additional Polk County shallow conventional wells and/or market the interest for sale to payoff debt and replenish working capital.
• Drill and complete first appraisal well in the Joffre B pool lease area in Alberta.
• Secure one or more interests in a high-impact resource play such as the Austin Chalk in Texas.
• Approach prospective investors, including strategic partners, regarding potential financing terms required to fund existing and new projects and replenish working capital. 

In addition, effective March 6, 2019, Tanager will continue from the Province of Alberta to the Province of British Columbia pursuant to a resolution passed by shareholders of Tanager at the annual general and special meeting held December 19, 2018. A copy of the new Articles of Tanager will be available on the Corporation's SEDAR profile at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Tanager Energy Inc. is an oil and natural gas and mineral exploration company headquartered in Calgary, Alberta, with executive offices in Houston, Texas. The Corporation’s common shares are listed on the TSX Venture Exchange under the trading symbol “TAN” and on the OTCQB as “TANEF”

Tanager Energy Inc.
1980 Post Oak Blvd., Suite 1500
Houston, Texas 77056
Telephone: 713-360-4847

Caution Regarding Forward Looking-Statements

This press release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”), including statements regarding Tanager’s business. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Tanager’s control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Tanager believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Tanager does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.