Press Release
Calgary, Alberta – December 2, 2021 – Tamarack Valley Energy Ltd. (“Tamarack” or the “Company”) is pleased to announce the release of its second annual Sustainability Report, outlining the Company’s progress on environmental, social and governance (“ESG”) practices and how these factors help guide Tamarack’s strategy. The Company has made significant progress on previously identified commitments and goals related to the focus areas of ethical governance; stakeholder engagement; biodiversity and water management; and emissions management.
“We are pleased with the progress our organization has made in the last year, building on the foundation that was set in the first year of our program” said Brian Schmidt (Aakaikkitstaki), Tamarack’s President and CEO. “This report highlights how Tamarack continues to be a leader in responsible development with a focus on the environment, while simultaneously strengthening Indigenous and stakeholder relationships. We have further incorporated ESG goals into our executive and employee compensation with a path to further increase and integrate ESG in our incentive structures”
Highlights of Tamarack’s 2021 Sustainability Report include:
Tamarack’s 2021 Sustainability Report covers performance metrics for the 2018 to 2020 calendar years and aligns with guidance set forth by the Sustainability Accounting Standards Board (SASB), the Task Force on Climate-related Financial Disclosure (TCFD) and the Global Reporting Initiative (GRI) with consideration for the United Nations Sustainable Development Goals (UN SDG).
The full Report can be accessed through the Company’s website at https://www.tamarackvalley.ca/ESG.pdf.
About Tamarack Valley Energy Ltd.
Tamarack is an oil and gas exploration and production company committed to free funds flow generation and financial stability through the identification, evaluation and operation of resource plays in the Western Canadian Sedimentary Basin. Tamarack’s strategic direction is focused on three key principles: (i) targeting repeatable and relatively predictable plays that provide long-life reserves; (ii) using a rigorous, proven modeling process to carefully manage risk and identify opportunities; and (iii) operating as a responsible corporate citizen with a focus on environmental, social and governance (ESG) commitments and goals. The Company has an extensive inventory of low-risk, oil development drilling locations focused primarily on Charlie Lake, Clearwater and EOR plays in Alberta that are economic over a range of oil and natural gas prices. With this type of portfolio and an experienced and committed management team, Tamarack intends to continue delivering on its strategy to maximize shareholder returns while managing its balance sheet.
For additional information, please contact:
Brian Schmidt
President & CEO
Tamarack Valley Energy Ltd.
Phone: 403.263.4440
www.tamarackvalley.ca
Steve Buytels
VP Finance & CFO
Tamarack Valley Energy Ltd.
Phone: 403.263.4440
www.tamarackvalley.ca
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