Twin Butte has completed a disposition of assets in North East British Columbia for $9.9 million, including closing adjustments. Proceeds from the sale will reduce Twin Butte's net debt position which post transaction is expected to be approximately $40 million at the end of Q2. The sale will not affect the Company's existing bank line as only minimal reserves and approximately 35 boe/d of production were associated with the assets. The disposition included 1,847 net undeveloped acres of land. Twin Butte's bank lines are $65 million leaving approximately $25 million of excess availability providing substantial financial flexibility to pursue asset or corporate acquisition opportunities.

The asset disposition is one of a number of strategic moves the new management team at Twin Butte has, and will continue to make, to improve overall corporate strength and efficiency. These actions ensure that Twin Butte is positioned to take advantage of the future growth potential of our considerable undeveloped land and reserve base.

Twin Butte's new management team continues to refocus the company in core areas that have the potential to be significant growth platforms. The migration to more repeatable play types, predominantly in North East British Columbia and North West Alberta is ongoing. Twin Butte's inventory of oil and gas opportunities currently exceeds 100 locations or $200 million of potential capital activity.

Tags: Twin Butte Energy Ltd.