VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 24, 2011) - Thunderbird Energy Corp. (News - Market indicators) (FRANKFURT:M2Y) ("Thunderbird") today announced that its farm out partner Ascent Exploration, Inc. ("Ascent") is about to spud its first vertical well to test for Niobrara and Dakota potential under Thunderbird's 5240 acre leasehold in Weston County, Wyoming.

Thunderbird's leasehold is located along the NW–SE trending up dip flank of the red hot Niobrara play which is being referred to by some as the "NeoBakken", suggesting its potential comparison to the extremely prolific Bakken shale oil play. Historical vertical Niobrara wells near Thunderbird's lands have performed comparably with vertical wells on trend and in the hottest areas of the play. However, it is only very recently that the implementation of horizontal "multi-frac" stimulation technology has begun to unlock the commercial potential of oil from the Niobrara. Thus in 2010 other operators licensed horizontal wells on both sides (east and west) of Thunderbird's acreage. Pending a successful outcome of the initial test well Thunderbird expects to commence a horizontal well development program.

As previously announced, Thunderbird's lands are also positioned in a prolific Dakota formation oil producing region, There are multiple large fields in the area including the 27.5 MMBO (produced) Coyote Creek and Coyote Creek South pools that lie roughly eight miles to the north west. Extensive seismic 2D coverage has led to the belief that the Dakota formation, at approximately 7000 feet below Thunderbird's lands, is prospective for Dakota oil. The initial test well will target the Dakota formation as well as the shallower Niobrara.

Thunderbird Energy is a Canadian based oil and gas exploration and production Company with interests in the US Rockies and mid-continent regions. Thunderbird's holdings include the Gordon Creek, Utah natural gas field, the Rush County, Kansas light oil project and a light oil exploration project in Weston County Wyoming.

Caution Regarding Forward- looking information

Information in this news release respecting the reserves valuations, expected production levels, prices and anticipated total oil and gas recoveries constitutes forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, expectations, or beliefs as to future events or results are believed to be reasonable based on the information currently available to the Company. The Company does not undertake to update any such forward-looking statements.

Statements including forward-looking information involve known and unknown risks, uncertainties and other factors which may cause the actual results of the Company and its operations to be materially different from estimated costs or results expressed or implied by such forward-looking statements. 

There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.