Tango Expects First Gas at Alberta Well before New Year's

Tango Energy Inc. said that production testing has been completed on a significant new well in west-central Alberta. The well flowed on a 24 hour flow test and produced a total of 6.4 million cubic feet of raw gas. During the flow test, the well flowed at rates between 5.9 and 8.5 million cubic feet per day of raw gas with flowing tubing pressures between 4,208 and 4,487 psi. Hydrogen sulfide content is estimated in the 6.5% range. Tango has a 28% working interest (WI) in this well, subject to a 12.5% non-convertible overriding royalty. It is expected that the well will be placed on production prior to year end.

Additionally, production testing has been completed on another new well in the Cecilia area. The well is expected to produce initially between 200 and 300 boepd. Tango has a 50% WI in this well, which is also expected to be placed on production prior to year end.

Completion operations are currently underway at Quaich (60% WI), Ricinus (50%WI), and Ferrier (28% WI). Additionally, the Kakwa 13-1 Swan Hills test is scheduled to re-commence drilling during December 2006.

Tango said that it will communicate additional information in a timely manner as it becomes available.


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