TWO T2 Metals Corp

Twoco Petroleums Ltd. ("Twoco" or the "Company") (TSX VENTURE:TWO) announces
financial and operating results for the quarter ended June 30, 2011 and an
update of its 2011 activities.


Twoco has filed the following documents on the System for Electronic Document
Analysis and Retrieval (SEDAR):




1.  Unaudited condensed financial statements as at and for the quarter ended
    June 30, 2011, together with the notes therein as prepared in accordance
    with International Financial Reporting Standards; and 
2.  Management's discussion and analysis of financial condition and results
    of operations as at and for the quarter ended June 30, 2011.

Copies of these documents may be obtained via SEDAR at                      
http://www.sedar.com/.                                                      
                                                                            
Highlights of the Second Quarter 2011 include:                              

--  Average production of 567 boe per day (includes 51 barrels per day of
    oil and natural gas liquids) - a 23% decrease from the Second Quarter
    2010 - a result of shut-in volumes due to low natural gas prices and
    limited access due to extremely wet conditions, a lack of drilling
    activity and natural production declines; 
--  Petroleum and natural gas sales revenue of $1,338,413 - a 2% decrease
    from the Second Quarter 2010 - due to lower natural gas production and
    lower natural gas prices; 
--  Cash flow from operations of $118,979 - an 121% increase from the Second
    Quarter 2010; 
--  Operating netback of $666,003 ($12.90 per boe); 
--  Net loss of $1,254,660 ($0.02 per share); 
--  Capital expenditures of $1,757,677; 
--  Current land position of 114,344 gross (84,304 net) acres; 
--  Operating costs of $10.21 per boe; 
--  General and administrative expenses of $3.77 per boe; 
--  On April 29, 2011, the Company closed a $3.05 million private placement
    equity financing of 10,157,824 common shares of the Company at a price
    of $0.27 per common share and 994,500 flow-through common shares of the
    Company at a price of $0.31 per flow-through common share; and 
--  On July 4, 2011, the Company announced the issuance of 278,495 common
    shares in payment of interest accrued to June 30, 2011 on its $3.4
    million principal amount of redeemable, convertible, unsecured 8%
    debentures.

Highlights of operations for the year to date include:                      

--  In April 2011, Twoco acquired the mineral rights to an additional 640
    gross acres (618 net) on the Company's Sparky heavy oil property in the
    Warspite area of Alberta; 
--  On May 5, 2011, Twoco received approval from the Energy Resources
    Conservation Board ("ERCB") which amended the drilling spacing on the
    Company's Sparky heavy oil property to allow for the drilling of up to 8
    horizontal lateral legs per pool per quarter section. As a result of the
    ERCB's approval, Twoco has identified drilling locations for an
    additional 120 horizontal laterals on the Company's lands; 
--  In July 2011, Twoco completed the drilling and completion of two (1.93
    net) tri-leg horizontal oil wells on the Company's Sparky heavy oil
    property. The wells are currently being tied into Twoco's existing gas
    infrastructure for purposes of natural gas conservation as required by
    the ERCB. Production from these two wells is expected to commence within
    the next 10 days; 
--  Current production of 575 boe per day (includes approximately 60 barrels
    per day of oil and natural gas liquids); and 
--  Twoco estimates current shut-in and behind pipe production capability of
    150 boe per day. This estimate does not include the potential production
    from the two (1.93 net) tri-leg horizontal oil wells currently being
    tied-in for production.



Twoco is an oil and gas company engaged in the exploration for, and the
acquisition, development and production of, oil and natural gas reserves
primarily in the Province of Alberta. Twoco has 71,352,224 common shares issued
and outstanding as at today's date.


In this news release the calculation of barrels of oil equivalent (boe) is
calculated at a conversion rate of six thousand cubic feet (Mcf) of natural gas
for one barrel (Bbl) of oil based on an energy equivalency conversion method.
Boes may be misleading particularly if used in isolation. A boe conversion ratio
of 6 Mcf: 1Bbl is based on an energy equivalency conversion method primarily
applicable to the burner tip and does not represent a value equivalency at the
wellhead.


Forward-Looking Statements:

Certain information set forth in this news release contains forward-looking
statements or information ("forward- looking statements"), including statements
regarding the timing of production from its two tri-leg horizontal wells and
behind pipe production capability. By their nature, forward-looking statements
are subject to numerous risks and uncertainties, some of which are beyond
Twoco's control, including the impact of general economic conditions, industry
conditions, volatility of commodity prices, currency fluctuations, imprecision
of reserve estimates, environmental risks, operational risks in exploration and
development, competition from other industry participants, the lack of
availability of qualified personnel or management, stock market volatility and
the ability to access sufficient capital from internal and external sources.
Although Twoco believes that the expectations in our forward-looking statements
are reasonable, our forward-looking statements have been based on factors and
assumptions concerning future events which may prove to be inaccurate. Those
factors and assumptions are based upon currently available information. Such
statements are subject to known and unknown risks, uncertainties and other
factors that could influence actual results or events and cause actual results
or events to differ materially from those stated, anticipated or implied in the
forward-looking statements. As such, readers are cautioned not to place undue
reliance on the forward-looking statements, as no assurance can be provided as
to future results, levels of activity or achievements. The risks, uncertainties,
material assumptions and other factors that could affect actual results are
discussed in our Annual Information Form and other documents available at
www.sedar.com. Furthermore, the forward-looking statements contained in this
document are made as of the date of this document and, except as required by
applicable law, Twoco does not undertake any obligation to publicly update or to
revise any of the included forward-looking statements, whether as a result of
new information, future events or otherwise. The forward-looking statements
contained in this document are expressly qualified by this cautionary statement.


This news release shall not constitute an offer to sell or the solicitation of
any offer to buy securities in any jurisdiction.

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