Tango Energy Inc. announces normal course issuer bid


    CALGARY, Oct. 31 /CNW/ - Tango Energy Inc. ("Tango") announced today that
it has filed with the TSX Venture Exchange (the "TSXV"), and that the TSXV has
accepted, Tango's Notice of Intention to Make a Normal Course Issuer Bid (the
"Notice"). Under the bid, Tango will have the right to purchase for
cancellation, through the facilities of the TSXV, commencing on November 3,
2008 up to a maximum of 3,725,000 of its common shares, representing 10% of
its public float of outstanding common shares. Common shares will be purchased
at the market price at the time of purchase and will be purchased on behalf of
Tango by Acumen Capital Partners, Tango's broker in connection with the normal
course issuer bid, in accordance with the rules and policies of the TSXV. The
normal course issuer bid will remain in effect until the earlier of
November 2, 2009 or when Tango has purchased the maximum number of common
shares permitted under the bid.
    Management and the directors of Tango believe that common shares may
become available during the proposed purchase period at prices that make them
an attractive investment for Tango.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    %SEDAR: 00017586E

For further information:

For further information: John Gunn, C.E.O., President, and Director,
Tango Energy Inc., Phone: (403) 266-5688, Fax: (403) 266-8817, E-mail:

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