Tango Energy Inc.

Tango Energy Inc.

October 31, 2008 23:59 ET

Tango Energy Inc. Announces Normal Course Issuer Bid

CALGARY, ALBERTA--(Marketwire - Oct. 31, 2008) - Tango Energy Inc. ("Tango") (TSX VENTURE:TEI) announced today that it has filed with the TSX Venture Exchange (the "TSXV"), and that the TSXV has accepted, Tango's Notice of Intention to Make a Normal Course Issuer Bid (the "Notice"). Under the bid, Tango will have the right to purchase for cancellation, through the facilities of the TSXV, commencing on November 3, 2008 up to a maximum of 3,725,000 of its common shares, representing 10% of its public float of outstanding common shares. Common shares will be purchased at the market price at the time of purchase and will be purchased on behalf of Tango by Acumen Capital Partners, Tango's broker in connection with the normal course issuer bid, in accordance with the rules and policies of the TSXV. The normal course issuer bid will remain in effect until the earlier of November 2, 2009 or when Tango has purchased the maximum number of common shares permitted under the bid.

Management and the directors of Tango believe that common shares may become available during the proposed purchase period at prices that make them an attractive investment for Tango.

Contact Information

  • Tango Energy Inc.
    John Gunn
    C.E.O., President, and Director
    (403) 266-5688
    Fax: (403) 266-8817
    Email: jgunn@tangoenergy.com