Twoco Petroleums Ltd. ("Twoco") (TSX VENTURE:TWO) announces that
PricewaterhouseCoopers Inc. has been appointed to act as receiver and manager of
Twoco by the Court of Queen's Bench of Alberta. The officers of Twoco, Wayne A.
Malinowski, President and Chief Executive Officer and Timothy A. Bashforth, Vice
President Exploration, Secretary and Treasurer, have resigned their respective
positions. 


For further information, please visit the PricewaterhouseCoopers Inc. website at
www.pwc.com/car-twoco.


FOR FURTHER INFORMATION PLEASE CONTACT: 
PricewaterhouseCoopers Inc.
www.pwc.com/car-twoco
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