Tamarack Valley Energy Ltd. (TSX:TVE) ("Tamarack" or the "Company") is pleased to announce it has filed today, March 23, 2017, with Canadian securities authorities its 2016 disclosure documents. Included in the Canadian filings were Tamarack's Annual Information Form ("AIF"), including disclosure and reports related to reserves data and other oil and gas information pursuant to Section 2.1 of National Instrument 51‐101; its Financial Statements; and its related Management's Discussion and Analysis for the year ended December 31, 2016.
Tamarack's previously disclosed reserves summary issued on February 27, 2017 did not include the impact of the transformative Spur Resources Ltd. acquisition which closed subsequent to year end on January 11, 2017 (the "Viking Acquisition"). Included within the AIF is a pro-forma summary of the Viking Acquisition reserves evaluation ("Viking Acquisition Reserves Report") with an effective date of January 31, 2017, combined with a modified look-ahead summary performed by GLJ Petroleum Consultants, Ltd ("GLJ") on Tamarack's year end 2016 reserves effective January 31, 2017 (the "Pro-Forma Reserves Report"). Please see "Information Regarding Disclosure on Oil and Gas Reserves" below.
Pro-Forma Reserves Report Highlights:
About Tamarack Valley Energy Ltd.
Tamarack is an oil and gas exploration and production company committed to long-term growth and the identification, evaluation and operation of resource plays in the Western Canadian Sedimentary Basin. Tamarack's strategic direction is focused on two key principles - targeting repeatable and relatively predictable plays that provide long-life reserves, and using a rigorous, proven modeling process to carefully manage risk and identify opportunities. The Company has an extensive inventory of low-risk, oil development drilling locations focused in the Cardium and Viking fairways primarily in Alberta that are economic at a variety of oil and natural gas prices. With this type of portfolio and an experienced and committed management team, Tamarack intends to continue delivering on its strategy to maximize shareholder return while managing its balance sheet.
SOURCE: Tamarack Valley Energy Ltd.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.