2009-08-04-2009-07-01-2009-07-01

Bought NE BC assets, gaining 35 BO/d, 1,847 net undeveloped acres.

Twin Butte Energy Ltd., Calgary, (Toronto: TBE) has sold assets in northeastern British Columbia to an undisclosed buyer for C$9.9 million. The assets involve production of approximately 35 barrels of oil per day and 1,847 net undeveloped acres. The company will use the proceeds to pay debt, which will be approximately C$40 million at the end of the second quarter and including the sale. Twin Butte's bank lines are C$65 million leaving approximately C$25 million for financial flexibility to pursue asset or corporate acquisition opportunities. Twin Butte has operations in northeastern British Columbia and northwestern Alberta.