Year End 2021 Reserves and Fourth Quarter Highlights TSX: TVE
CALGARY, AB, Jan. 31, 2022 /CNW/ - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") is pleased to announce certain unaudited financial and operating results for the three months and year ended December 31, 2021 and the results of Tamarack's year end independent oil and gas reserves evaluation as of December 31, 2021 (the "GLJ Report"), prepared by Tamarack's independent qualified reserves evaluator, GLJ Ltd. ("GLJ"). Selected reserves information is outlined below. The Company anticipates announcing its fourth quarter and audited year end 2021 financial results and filing an annual information form ("AIF") for the year ended December 31, 2021, on or near March 3, 2022.
Brian Schmidt, President and Chief Executive Officer of Tamarack commented, "2021 was a transformational year for Tamarack as we advanced our strategy of driving long term sustainable free funds flow(1) growth forward with the repositioning and further consolidation of the Company in the Charlie Lake and Clearwater oil plays. These plays complement our highly economic waterflood assets. Operationally, we exceeded our full year guidance and successfully integrated the assets into our portfolio, which is demonstrated in our robust reserves metrics including our low finding and development ("F&D") costs and strong recycle ratios."