2010-03-10-2010-01-05

To acquire Alberta assets, gaining 280 BOE/d.

Twin Butte Energy Ltd., Calgary, (Toronto: TBE) reports it has earned C$13.3 million from its closed and pending divestments of noncore producing and nonproducing assets in Canada.

While the location of the properties was not disclosed, Twin Butte has noncore assets in the Peace River Arch and Plains regions of Alberta.

The sales will reduce the company's daily production by approximately 280 barrels of oil equivalent to approximately 6,200 barrels of oil equivalent. Its credit facility will remain at C$120 pro forma the transactions; net debt is expected to be approximately C$99 million.