Cavendish Investing Ltd.

December 18, 2009 11:53 ET

Cavendish Investing Ltd.: Richard A.N. Bonnycastle Increases Ownership in Twoco Petroleums Ltd.

CALGARY, ALBERTA--(Marketwire - Dec. 18, 2009) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Mr. Richard A.N. Bonnycastle, director of Twoco Petroleums Ltd. ("Twoco"), announces that, as a result of purchases in the open market which occurred on December 14, 2009 through the facilities of the TSX Venture Exchange (the "TSXV"), Mr. Bonnycastle, through Cavendish Investing Ltd., has acquired an additional 20,500 common shares ("Common Shares") in the capital of Twoco. The Common Shares were purchased for consideration of $0.42 per Common Share. As a result, Mr. Bonnycastle now owns, directly or indirectly, or exercises control over 1,539,300 Common Shares representing approximately 10.3% of the issued and outstanding Common Shares. In addition, Mr. Bonnycastle has stock options to acquire up to an additional 66,000 Common Shares, $1,000,000 principal amount of 17% debentures of Twoco and Common Share purchase warrants to purchase 500,000 Common Shares.

Mr. Bonnycastle acquired the Common Shares for investment purposes and may, from time to time on an individual or joint basis, acquire additional securities of Twoco, dispose of some or all of the existing or additional securities he holds or will hold, or may continue to hold his current position.

FOR FURTHER INFORMATION OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED IN CONNECTION WITH THIS MATTER, PLEASE CONTACT MR. RICHARD A.N. BONNYCASTLE.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Cavendish Investing Ltd.
    Mr. Richard A.N. Bonnycastle
    (403) 269-6795
    or
    Cavendish Investing Ltd.
    4615 Canterra Tower, 400 - 3rd Avenue S.W.
    Calgary, AB T2P 4H2