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Tatonka Oil and Gas Inc. (TTKA) Announces Spud of 1st Coal Bed Methane Well in Sand Wash Basin
DENVER, Tatonka Oil and Gas, Inc. (OTCBB: TTKA) announced today that it has spud the first of five Coal Bed Methane (CBM) appraisal wells on its leasehold of over 15,000 acres in the Sand Wash Basin of northwestern Colorado.
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The Eldon Gerber 7-24-7-92 is targeting the Williams Fork Formation (Mesaverde Group) coals above an estimated total depth of 4,000 feet.
Management anticipates the well will reach total depth in about four days. Well completion and testing will begin in early to mid-January 2007. Extensive reservoir parameter testing will be conducted on this well and results should be available to management early in 2007.
Management plans to drill four additional appraisal wells on Tatonka's Sand Wash Basin position in Moffat Count. Tatonka's Sand Wash Basin leasehold position was estimated by Hampton & Associates, Inc. in May 2006 to hold 1.4 TCF of CBM resources.
CEO Brian Hughes stated, "We are extremely pleased to begin the drilling operations on our first well in the Sand Wash Basin. The spudding of our first well is an important step in demonstrating and developing the large energy potential of our acreage position in the Sand Wash Basin."
About Tatonka Oil and Gas, Inc.
Based in Denver, Colorado, Tatonka Oil and Gas, Inc. is focused on the exploration and development of unconventional oil and gas resources in North America with a special emphasis on the Rocky Mountain Region.
Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission ("SEC") permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as probable, possible and potential, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our SEC filings, available from us at 1515 Arapahoe Street, Tower 1, 10th Floor, Denver CO 80202. You can also obtain this form from the SEC by calling 1-800-732-0330.
Statements contained in this press release that state the intentions, hopes, beliefs, anticipations, expectations or predictions of the future of Tatonka Oil and Gas, Inc. and its management are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. It is important to note that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties. Actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: the preliminary nature of well data, including permeability and gas content, and commercial viability of the wells; risk and uncertainties associated with exploration, development and production of oil and gas; drilling and production risks; our lack of operating history; limited and potentially inadequate cash resources; anticipated pipeline construction and transportation of gas; matters affecting the oil and gas industry generally; lack of availability of oil and gas field goods and services; environmental risks; changes in laws or regulations affecting our operations, as well as other risks described in our Annual Report on Form 10- KSB, Quarterly Reports filed on Form 10-QSB, and subsequent filings with the Securities and Exchange Commission.
Contact:
Tatonka Oil and Gas, Inc.
Sothi Thillairajah, CFO, 303-476-4100
www.tatonkaong.com
Source: Tatonka Oil and Gas, Inc.
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