Tamarack Valley Energy Ltd., Calgary, (TSX: TVE) has reported an update on its spring drilling program, which primarily targets Canada's Cardium play.

"We are pleased with the execution of our spring multi-well program. We had timely access to quality services when needed and experienced minimal weather delays," says Brian Schmidt, president and CEO. "At Lochend and Garrington we have achieved strong initial production rates and have a very promising second well on the horizon in the Buck Lake area."

Garrington Cardium Drilling Results

Tamarack's horizontal Cardium well located at 1-20-32-3W5M (54% WI) was drilled to a measured depth of 3,200 meters, and was completed using a 16 stage nitrified oil frac. After recovering all 5,400 barrels of load fluid over a six day period, the well produced an average of 484 BOE/d (406.5 bbls/d oil with a solution gas rate of 465 mcf/d) over the next nineteen days. The initial 19-day test was conducted without any artificial lift as the well flowed on its own.

The well is currently being fully equipped and additional facilities are being installed to conserve natural gas volumes for future production. Tamarack expects to commission the new well-site facility and commence production activities in September 2011. Early stage results indicate the well has the potential to be one of the best wells in the Garrington/Harmattan trend. Tamarack has 10.5 net un- risked future drilling locations in the area.

Lochend Cardium Production Update

On June 22, 2011, Tamarack Valley provided an operation update regarding the three day average initial production results for two Lochend wells drilled and completed during the second quarter of 2011. The following table summarizes the average production day boe rates post recovery of load fluid, updated to 14 day average results for the 8-29-26-3 W5M (100% WI) and 15-32-26-3 W5M (100% WI) wells.

The wells were shut in for most of July to install a multi-well battery. However, the new facility has now been fully commissioned and the wells have been put back on production. Once the multi-well facility became operational, Tamarack constrained oil production to 330 bbls/d from both wells. This constraint will be in effect until a new gas conservation system is commissioned scheduled for the third quarter of 2011. Tamarack has 22.0 net un-risked future drilling locations in the area.

Although the new Garrington and Lochend wells are currently exhibiting production performance at an initial rate much higher than area offsets, we anticipate future decline rates will be similar to the offsetting Cardium wells.

Buck Lake Update and Drilling Outlook

Tamarack's horizontal well located at 3-35-46-6 W5M was drilled to a measured depth of 3,450 meters with approximately 1,500 meters of horizontal section in the Cardium zone. The well has been prepared in order to conduct an 18 stage fracture stimulation operation scheduled to occur in August 2011. The drilling rig was released while results from the multi-well program are evaluated. The company has tentatively booked a rig for early October 2011 and has licensed wells that provide an option to continue drilling Cardium locations in Lochend, Buck Lake and Garrington.

Production

Tamarack's average production rate in July based on field estimates was 947 BOE/d. During July, the Quaich wells were shut-in for 5 days as a result of a third party plant turnaround and all three Lochend wells were shut-in for two weeks during the month while construction of the multi-well battery took place.

During a 10 day period (between July 29 and August 7, 2011), prior to the new Garrington well being shut-in, production averaged 1,226 BOE/d based on field estimates. However, with the new Garrington well anticipated to experience downtime in August due to installation of well-site facilities and tie-in of the solution gas, Tamarack expects to average between 1,030-1,080 BOE/d in the third quarter.