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Tatonka Oil and Gas Inc. (TTKA) Announces Merger
Completion, Corporate Name Change, and Corporate Developments
DENVER - Tatonka Oil and Gas,
Inc. (OTCBB: TTKA) has completed its merger with New Pacific Ventures (OTCBB:
NPFC - News). As a result of the merger, the combined entity is
incorporated under the company name Tatonka Oil and Gas, Inc., and began
trading under the new stock symbol (TTKA).
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Tatonka Oil and Gas, Inc. is an independent oil and gas company
focused on the exploration and development of unconventional oil and gas
resources. The Company's lease assets are centered in the Rocky Mountain
region, and include both coalbed methane (CBM) and fractured shale
prospect areas.
The company commenced oil and gas operations on March 5, 2004, with
the purchase of oil and gas leasehold interests in several properties.
On October 30, 2006, the Company completed a private placement offering
for $5 million. The primary use of these funds will be for the first
phase in the drilling and exploration of these projects. The Company
plans to initiate drilling in December 2006.
Net leased areas include over 15,000 acres for CBM in the Sand Wash
Basin of northwestern Colorado, and over 23,000 acres for fractured
shale in the Powder River Basin of northeastern Wyoming. As part of
Tatonka's business model, the Company continues to identify and acquire
acreage positions in unconventional resource plays.
The Company has appointed Brian Hughes as Chairman and Chief
Executive Officer. This appointment comes as a result of Mr. Hughes'
numerous successes in the exploration and production of natural gas from
unconventional resources. Additionally, the Company has a team of oil
and gas industry-leaders with a combined experience base of more than
120 years.
The Company is currently in the process of developing two projects:
the Sand Wash project and the Powder River project. Combined, these two
properties represent more than 39,000 net leased acres. The Sand Wash
project has an estimated CBM resource of 1.4 TCF and contains other
potential fractured shale resources.
About Tatonka Oil and Gas, Inc.
Based in Denver, Colorado, Tatonka Oil and Gas, Inc. is focused on
the exploration and development of coalbed methane in 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 periodic filings with
the SEC, File No. 0-50190, which are available from us at 1515 Arapahoe
Street, Tower 1, 10th Floor, Denver, Colorado 80202. You can also obtain
these forms 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. Tatonka assumes no obligation to update the information
contained in this press release.
Contact:
Tatonka Oil and Gas Company, Inc.
Sothi Thillairajah, CFO
303-476-4100
www.tatonkaong.com
Source: Tatonka Oil and Gas, Inc. |
