THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES,
TO UNITED STATES NEWSWIRE SERVICES OR TO UNITED STATES PERSONS.


Twoco Petroleums Ltd. ("Twoco" or the "Company") (TSX VENTURE:TWO) is pleased to
announce that further to its press release dated September 3, 2010, it has
entered into agreements with the holders of an additional $150,000 principal
amount of its outstanding unsecured 17% debentures (the "Debentures") plus all
interest accrued on such Debentures, to exchange such debentures for common
shares of the Company (the "Common Shares"). The Debentures were exchanged for
an aggregate of 675,561 Common Shares at a price of $0.23 per Common Share.
Twoco has 58,625,108 Common Shares issued and outstanding and $2,780,000
principal amount of Debentures outstanding as at today's date.


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.


This news release is not an offer of securities for sale in the United States.
Securities may not be offered or sold in the United States or to or for the
account or benefit of US persons (as such terms are defined in Regulation S
under the United States Securities Act of 1933, as amended (the "U.S. Securities
Act")), absent registration or an exemption from registration. The securities
offered have not been and will not be registered under the U.S. Securities Act
or any state securities laws and, therefore, may not be offered for sale in the
United States, except in transactions exempt from registration under the U.S.
Securities Act and applicable state securities laws.


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