TEE Triple 8 Energy Ltd.

Elliott Associates, L.P. ("Elliott Associates"), The Liverpool Limited
Partnership ("Liverpool") and Elliott International, L.P. ("Elliott
International" and, collectively with Elliott Associates and Liverpool, the
"Offeror") announced today that Liverpool and Elliott International acquired
67,000,000 subscription receipts ("Subscription Receipts") of Triple 8 Energy
Ltd. ("Triple 8") at a price of $0.075 per Subscription Receipt pursuant to
Triple 8's private placement of 383,334,000 Subscription Receipts (the "Private
Placement").


The gross proceeds from the Private Placement will be held in escrow pending the
completion of a previously announced asset acquisition by Triple 8 (the
"Acquisition"). If the Acquisition is completed on or before November 15, 2010,
the proceeds will be released to Triple 8. If the Acquisition is not completed
on or before November 15, 2010, or the definitive agreement in respect of the
Acquisition is terminated at an earlier time, or Triple 8 announces publicly
that it does not intend to proceed with the Acquisition, holders of Subscription
Receipts will receive a cash payment equal to the offering price of the
Subscription Receipts and interest that was earned thereon during the term of
the escrow.


On the deemed exercise of the Subscription Receipts, each Subscription Receipt
will entitle the holder to one common share ("Common Share") and one-half of one
Common Share purchase warrant ("Warrant") of Triple 8, with each whole Warrant
entitling the holder to acquire one Common Share at an exercise price of $0.10
per Common Share for a period of 30 months following the closing of the Private
Placement. The Subscription Receipts will be deemed to be exercised on the
earlier of: (a) February 14, 2011; and (b) that day on which a receipt (the
"Receipt") is issued by the securities regulatory authorities in British
Columba, Alberta, Saskatchewan, Ontario and New Brunswick for a final short form
prospectus qualifying the Common Shares and Warrants to be issued upon the
exercise of Subscription Receipts. 


Triple 8 shall use its reasonable commercial efforts to obtain the Receipt
within 30 days of closing the Acquisition (the "Qualification Deadline"). If the
Receipt is not obtained on or before the Qualification Deadline, Triple 8 shall
issue to each holder of Subscription Receipts, for no additional consideration
and without any further action on the part of the holder, an additional 0.1 of a
Common Share for each Common Share to be issued to such holder upon the deemed
exercise of the Subscription Receipts. Until the Receipt is issued, the
Subscription Receipts as well as the Common Shares and Warrants issuable upon
exercise of such receipts will be subject to a four month hold period under
applicable Canadian securities laws until February 14, 2011.


As a result of the closing of the Private Placement, the Offeror now holds
67,000,000 Subscription Receipts that, if exercised, would result in the Offeror
holding 67,000,000 Common Shares, representing approximately 10.8% of the total
outstanding Common Shares (giving effect to the exercise of all of the
outstanding Subscription Receipts), and 33,500,000 Warrants that, if exercised,
would result in the Offeror holding approximately 16.2% of the total outstanding
Common Shares (giving effect to the exercise of all of the outstanding
Subscription Receipts).


The acquisitions by Elliott International and Liverpool were made in the
ordinary course of their investment activities. Other than the possible exercise
of the Warrants that will be received on the conversion of the Subscription
Receipts, the Offeror has no current plan or proposal which relates to, or would
result in, acquiring additional ownership or control over the securities of
Triple 8. The Offeror may or may not purchase or sell securities of Triple 8 in
the future on the open market or in private transactions, depending on market
conditions and other factors material to the Offeror's investment decision.

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