Thunderbird Energy Corp.
TSX VENTURE : TBD

Thunderbird Energy Corp.

January 10, 2008 09:00 ET

Thunderbird Closes US$50 Million Credit Facility With Macquarie Bank Limited

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 10, 2008) - Thunderbird Energy Corp. (TSX VENTURE:TBD) (the "Company" or "Thunderbird") today announced that it has closed the financing facility with Macquarie Bank Limited ("Macquarie Bank") announced October 5, 2007, whereby Macquarie Bank intends to provide up to US$50 million (the "Facility") for the development of Thunderbird's existing oil and natural gas projects, and to fund future acquisitions.

The proposed Facility will have a term of 5 years and will operate as a revolving credit line for the first 3 years. Interest will be charged based on LIBOR or the US Prime rate, at Thunderbird's election. The initial draw down at closing is approximately $3 million. Advance Limits under the proposed Facility will be determined based on a ratio of Thunderbird's proven reserves, and will increase as the Company's reserves grow.

Macquarie Bank will be provided with 5 year warrants to purchase common shares of Thunderbird at prices between $0.50 and $1.00 per share for up to 13 million shares depending on the amount drawn under the Facility. Exercise of these warrants will be restricted for one year and partially restricted during the second year.

Thunderbird Energy is a Canadian based oil and gas company with offices in Calgary and Vancouver that is focused on acquiring and developing untapped oil and natural gas opportunities, primarily in the United States. Thunderbird currently owns and operates the Gordon Creek natural gas field in Utah and holds a 50% working interest in a producing light oil project in Rush County, Kansas. Thunderbird's other holdings include a New Brunswick oil and gas exploration project adjacent to the Stoney Creek field. Thunderbird has pending agreements to substantially expand its Gordon Creek acreage and to acquire a large, high impact oil exploration project in Wyoming.

Macquarie Group is a diversified international provider of specialist financial and investment banking services, with more than 12,000 employees in 24 countries. Through its Energy Capital Group, with offices in Houston, London and Sydney, Macquarie Group provides a wide array of strategic debt and equity capital services for the global oil and gas industry.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or the adequacy of this press release.

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