TWO T2 Metals Corp

Twoco Petroleums Ltd. ("Twoco" or the "Company") (TSX VENTURE:TWO) is pleased to
announce that it has placed on production its previously announced 2 gross (1.93
net) tri-leg horizontal oil wells on the Company's Sparky heavy oil play in the
Warspite area of Alberta.


Based on the initial 10 days of production, the Twoco HZ Bellis 15-34-58-17W4
well flowed at an average rate of 193 boe/d (includes 110 bbls/d of oil ("bopd")
and 83 boe/d of natural gas). The flowing rates for this well will be monitored
and a pump will be installed when operating conditions dictate. Based on the
initial 11 days of production, the Twoco HZ Bellis 14-35-58-17W4 well was
pumping at an average rate of 146 boe/d (includes 129 bopd and 17 boe/d of
natural gas). Natural gas production from both wells is being conserved in
accordance with the Energy Resources Conservation Board ("ERCB") regulations via
pipeline tie-in to the Company's Warspite gas gathering system. 


Twoco's total current corporate production is now estimated at 900 boe/d
(includes 290 bopd and 610 boe/d of natural gas). Twoco also estimates that an
additional 150 boe/d of shut-in and behind pipe natural gas production exists
which can be placed on stream upon the improvement of natural gas prices. 


These two new oil wells are the third and fourth horizontal oil wells
successfully drilled on the Company's Sparky heavy oil property and represent a
continuation of the Company's plan to strategically diversify its commodity mix
by targeting exploration towards oil prospects it has identified on its existing
lands. The first two wells on the Sparky heavy oil play were single leg
horizontal wells that were placed on production in December 2010.


The Company will continue to monitor production from its existing wells on the
Sparky heavy oil play and also from wells in analogous pools with a view to
optimizing production and reserves recovery by utilizing different drilling
techniques, wellbore configurations, completion practises, equipping systems and
utilization of secondary and tertiary recovery potential. Twoco has commenced
field operations for the drilling of 4 additional multi-lateral horizontal oil
wells on the Sparky heavy oil play in the fourth quarter of 2011. 


The average cost per well of drilling, completing and equipping the 2 tri-leg
horizontal oil wells was approximately $1,350,000. These costs were higher than
originally estimated due to the extremely wet surface conditions encountered
during drilling and completion operations. Twoco believes that future drilling
costs on its Sparky heavy oil lands could be significantly reduced in a
multi-well drilling program. 


Twoco currently controls 2,727 net prospective acres on its Sparky heavy oil
play which represents approximately 68% of the total estimated pool area. As
previously announced, Twoco received approval from the 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 up to
an additional 120 horizontal laterals on the Company's Sparky heavy oil lands. 


Twoco will review all capital expenditures on a regular basis throughout 2011
and adjust spending based on factors such as changes in commodity prices,
availability of capital and drilling and production results. 


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. 


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 plans to strategically diversify the Company's commodity mix, the
reduction of drilling costs, optimization of production, the timing and drilling
of additional wells, potential drilling locations and the area of the heavy oil
pool. 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
information. As such, readers are cautioned not to place undue reliance on the
forward looking information, 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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