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Tanager Energy Announces Master Gas Purchase Agreement

CALGARY, ALBERTA–(Marketwired – May 25, 2017) – Tanager Energy Inc. (“Tanager” or the “Corporation“) (TSX VENTURE:TAN)(OTC PINK:MNIRF) announced today that its joint venture partner, Paleo Oil Company, LLC (“Paleo“) has entered into a master gas purchase agreement with Houston Pipe Line Company LP (“HPL“) regarding the Raptor A #1 well and Raptor B #1 well, in Polk County, Texas. Tanager owns a fifty percent (50%) working interest in the Raptor A #1 well and seventy five percent (75%) working interest(1) in the Raptor B #1 well. Pursuant to the agreement, Paleo will sell all of the gas produced from these wells to HPL. For purchases pursuant to the master agreement, the parties will enter into a separate purchase and sale agreement confirming, among other matters, the monthly delivered volumes and price. The term of the master agreement is for a period of one year and shall then continue on a month-to-month basis thereafter, until terminated by either party upon 30 days’ written notice.