Yangarra Resources Ltd. provided the following updates. New Cardium 2-mile Type Curve: Yangarra has analyzed the results from its most recent 10 well program to develop a type curve for future 2-mile Cardium wells on the Company's land base. The wells drilled in the bioturbated zone exhibit better initial flow rates, higher pressures and lower than expected declines. The type curve has IP30 rates of 490 boe/d (390 bbl/d of oil), IP90 rates of 425 boe/d (295 bbl/d of oil) and twelve month declines of 48% on a boe basis. At $47.50/bbl WTI pricing, the type curve generates a half cycle internal rate of return of 132%, has a payout of 10 months and an NPV10 of $5.5 million (the full assumption list and sensitivities can be found in the updated corporate presentation). Using the new type curve the Company projects annual production per share growth for 2017 of 85% when compared to 2016.

The company has approved an increased 2017 capital budget of $70 million. The revised capital budget projects drilling an additional 12 extended reach horizontal Cardium wells, annual 2017 production of 5,500 - 6,000 boe/d and cash flow from operations of $47.5 million to $52.5 million. The company expects year-end 2017 net debt of $77.5 million to $82.5 million.