Twoco Petroleums Ltd. provide the results of its independent reserve evaluation for the Company's Sparky heavy oil property in the Warspite area of Alberta as of September 30, 2011 as prepared by Sproule Associates Limited in accordance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities. The Evaluation was limited to Twoco's Sparky heavy oil property and does not take into account any of the Company's natural gas or other properties.

Highlights of the Evaluation include:

■Total Proved Heavy Oil Reserves of 1,029,800 boe - this represents a 496% increase from the December 31, 2010 corporate reserve evaluation of the Company's Sparky heavy oil property in the Warspite area of Alberta;

■Total Proved Plus Probable Heavy Oil Reserves of 3,252,800 boe - this represents a 677% increase from the December 31, 2010 corporate reserve evaluation of the Company's Sparky heavy oil property in the Warspite area of Alberta; and

■Heavy Oil Reserve Values, using Sproule's October 31, 2011 forecast pricing and calculated using a 10% discount rate, of $21.25 million on a Total Proved basis and $56.96 million on a Total Proved Plus Probable basis. The large increase in heavy oil reserves is primarily attributable to the results associated with the Company's previously announced 2 gross tri-leg horizontal oil wells that were recently drilled and placed on production in the Company's Sparky heavy oil property in the Warspite area of Alberta.

Incorporating this Evaluation with Twoco's December 31, 2010 corporate evaluation, Twoco's current Net Asset Value before income tax is estimated, using a 10% discount rate, to be $0.95/share on a basic outstanding share basis and $0.71/share on a fully diluted share basis.

Twoco is currently drilling one gross quad-leg horizontal oil well on the Company's Sparky heavy oil property in the Warspite area of Alberta. It is anticipated that this well will commence production prior to year end.

Tags: Twoco Petroleums Ltd.