| ||November 30, 2006|
Kansas Drilling to Re-Commence in Early December; Announces Convertible Debenture Financing
| ||Vancouver, British Columbia, November 30, 2006---Thunderbird Energy Corp. (TSX-V: TBD "Thunderbird" or the "Corporation") announced today that drilling of the next 4 wells in its recently acquired Rush County, Kansas light oil project will commence in early December. Three of the wells will be funded by Thunderbird and the other will be funded by Thunderbird's partner in the project, EHM Energy.|
The first 2 wells in the 6 well program were recently drilled by EHM as successful Arbuckle Formation oil wells and will commence production within 2 to 3 weeks. Each of these first 2 wells are anticipated to have initial production rates of between 50 and 75 bbls/day of light, sweet crude, based on drill stem and bottom hole pressure tests. Thunderbird will earn a 50% working interest in all 6 wells and have the option to increase its participation to 100% on future wells in Rush County, as well as 2 other projects in neighboring counties.
Thunderbird also announced that it is proceeding, subject to regulatory approval, with a $1,200,000 non-brokered, private placement of two year, 12% convertible debentures, the proceeds of which will be used to finance the Kansas drilling program. The debentures will be convertible into common shares of Thunderbird at a price of $0.50 per share during the first year and $0.60 per share during the second year. A commission will be paid to registered brokers who participate in the offering of 7.5% cash plus 5% in one-year broker warrants exercisable at $0.50 per share. Management has reserved the right to purchase up to 50% of the offering. No commissions will be payable on the management portion.
Thunderbird Energy is a Canadian based oil and gas company that, in addition to the Kansas project, owns a 50% interest in the Gordon Creek producing natural gas field in the State of Utah, USA. Thunderbird's other holdings include a New Brunswick oil and gas exploration project adjacent to the Stoney Creek field.
For more information, contact:
President and CEO
THUNDERBIRD ENERGY CORP.
847 Hamilton Street
Vancouver, BC V6B 2R7
CLARK AVENUE COMPANY INC.
103 Clark Avenue East
Toronto, Ontario L3T 1T1
Tel.: (905) 882-4422
Fax: (905) 882-4435
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Visit our website at www.thunderbirdenergy.com
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