Twin Butte Energy says that 13,646,600 common shares of Can-Able Energy Ltd., representing approximately 96% of the issued and outstanding Can-Able Shares, have been tendered pursuant to Twin Butte's offer to purchase all of the issued and outstanding

Twin Butte has directed the depositary pursuant to the Offer to take up and pay for the Can-Able Shares deposited under the Offer and not withdrawn as at 5:00 p.m. (Calgary time) on July 9, 2009.

As the Offer was accepted by holders of greater than 90% of the outstanding Can-Able Shares, Twin Butte will take steps to acquire the remainder of the Can-Able Shares pursuant to the compulsory acquisition provisions contained in the Business Corporations Act (Alberta).

The consideration offered is 0.58 of a Twin Butte common share for each outstanding Can-Able Share, for total consideration of 8,229,968 Twin Butte common shares.

Tags: Twin Butte Energy Ltd.