SEPTEMBER QUARTER ACTIVITIES REPORT
Highlights
The Amazon prospect extension recently announced by the project operator upgrades the potential of Amazon by 50 to 100 BCF to between 450 to 600 billion cubic feet of natural gas and 45 to 60 million barrels of oil.
The combined potential of the Amazon and Thames targets is between 500 to 750 billion cubic feet of gas and 50 to 75 million barrels of oil.
Location activities are well advanced with a spud date for Amazon in December 2010 following the recent completion of landowner agreements.
Tango's share of the dry hole cost of the first well is estimated at US$2,430,000. These funds are currently held in a USD account.
december 2010 spud for 600bcf gas & 60m bboe
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