Twin Butte Energy Ltd. (TSX:TBE) has initiated a process to identify, examine and consider a range of strategic alternatives available to the Company, with a view to enhancing shareholder value. Strategic alternatives may include, but are not limited to, a debt restructuring, a sale of all or a material portion of the assets of Twin Butte, either in one transaction or in a series of transactions, the outright sale of the Company, or merger or other transaction involving Twin Butte and a third party, and/or alternative financing initiatives. Twin Butte has engaged Peters & Co.

Limited and National Bank Financial Inc. as its financial advisors to advise the Company in connection with this comprehensive review and analysis of strategic alternatives in connection with the process.