CALGARY, ALBERTA--(Marketwired - Feb. 5, 2014) - Tanager Energy Inc. (TSX VENTURE:TAN) is pleased to announce that it has reached an agreement in principle with a Canadian junior oil company and has signed a letter of intent to purchase oil and gas properties in central Alberta producing 160 barrels oil equivalent per day (90% oil) for $9,000,000. The company will sign a purchase and sale agreement for these properties by February 14, 2014, with closing on February 28, 2014. Tanager also has reached an agreement in principle to secure a debt financing instrument with a US institution for this acquisition.
Tanager Energy Inc. continues to evaluate the acquisition of similar assets in Central Canada.
Tanager Energy Inc. is a Lethbridge, Alberta based corporation engaged in the exploration for oil and gas and minerals with its Operations Office in Calgary Alberta. The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "TAN".
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.