Thunderbird Energy Corp.

Thunderbird Energy Corp.

January 02, 2008 17:30 ET

Thunderbird Provides Gordon Creek Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 2, 2008) - Thunderbird Energy Corp. (TSX VENTURE:TBD) (the "Company") today announced that it has completed a 3 well drilling program at Gordon Creek natural gas field, Utah and the drilling rigs have been released. Due to winter weather conditions and wildlife closure requirements, the Company elected to defer further drilling until the spring of 2008.

The Company previously reported on the log analysis the two 100% working interest wells drilled, the GSC 3-20-14-8 and the GCS 2-29-14-8, both of which have now been cased and tested for production from the Ferron Sand Stone. The Ferron is a cretaceous aged fluvial deltaic formation consisting of a sequence of interbedded sands, shale, and coals.

The 3rd well, the GCS 1- 30-14-8, which was drilled on a 50% working interest basis, has been temporarily plugged and equipped with a wellhead. Although the top of the Ferron came in approximately 150 feet high, compared to the offsetting producing wells, and there were numerous gas shows at various intervals, the sands are not as well developed as is typical for commercial wells in the area. Further analysis will be carried out over the next few weeks to determine the viability of conducting further completion operations on this well.

Gordon Creek State 3-20-14-8 was completed by perforating and acidizing only the top Ferron Sand Stone interval. There are 2 lower Sand Stone intervals in the well that have not yet been perforated of acidized. The well did not experience the type of dry gas flows that were experienced in the immediately adjacent wells, but production test indicated combined gas and water production at rates such that a decision has been made to equip the well with pumping equipment in the spring in order to tie it in to the existing gathering system and commence production. It is not uncommon for producing wells in the area to be equipped to pump water at start up. Once the well has produced for a sufficient period of time to assess the production characteristics, the 2 lower Ferron intervals may be perforated and acidized.

Gordon Creek State 2-29-14-8 was completed and tested in three different Ferron intervals with results similar to the Gordon Creek State 3-20-14-8. This well may be tied into the gas gathering and water disposal system once the system is extended to the 3-20-14-8 location. The tie-in of 2-29-14-8 is contingent on the production results from 3-20-14-8

The workover program at Gordon Creek is ongoing. The current program involves replacing pumps and tubing in two of the producing wells and equipping a third, presently suspended, well for production. It is expected that this program will be completed in January, at which time the results of the program will be announced.

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 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.

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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