Tango Energy Inc.

Tango Energy Inc.

August 03, 2007 23:59 ET

Tango Energy Inc.- Private Placement Increased to $7 Million

CALGARY, ALBERTA--(Marketwire - Aug. 3, 2007) - Tango Energy Inc. (the "Tango") (TSX VENTURE:TEI) announces the total maximum gross proceeds from the private placement offering ("Offering") increased from $6,000,000 to $7,000,000. Tango has amended its agreement with Acumen Capital Finance Partners Limited regarding the Offering of units ("Units") and common shares issued on a flow through basis ("Flow Through Shares") announced on August 2, 2007. The maximum number of issuable Flow Through Shares related to eligible Canadian Exploration Expense will remain at 8,700,000 ($4,002,000) and the increased gross proceeds will be raised by issuing additional Units and Flow Through Shares related to eligible Canadian Development Expense.

The proceeds of the Offering will be used to finance Tango's exploration and development program.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this regard may constitute forward looking statements. Such Forward looking statements include risks, uncertainties, and other factors which may cause actual results, performance or achievements of Tango to be materially different from any future results, performance, or achievements expressed or implied by such forward looking statements. Tango does not undertake to update any of such forward looking statements.