Arsenal Energy Inc.
TSX : AEI
FRANKFURT : A1E

Arsenal Energy Inc.
Tiverton Petroleums Ltd.
TSX : TIV

March 20, 2006 17:46 ET

Arsenal Energy Inc.: Tiverton Petroleums Ltd. to be Delisted at Close of Trading on March 21, 2006

CALGARY, ALBERTA--(CCNMatthews - March 20, 2006) -

Not for distribution to the United States newswire services or for dissemination in the United States.

Arsenal Energy Inc. (TSX:AEI)(FRANKFURT:A1E) ("Arsenal") is pleased to announce that the common shares of Tiverton Petroleums Ltd. (TSX:TIV) ("Tiverton") will be delisted from the Toronto Stock Exchange ("TSX") at the close of trading on Tuesday, March 21, 2006.

The delisting of Tiverton Common Shares results from an amended plan of arrangement (the "Arrangement") recently becoming effective between Tiverton and Arsenal (see press release dated March 13, 2006), whereby Arsenal acquired all of the issued and outstanding shares of Tiverton on the basis of 0.23 of a common share of Arsenal for each common share of Tiverton held.

Pursuant to the Arrangement no certificates representing fractional common shares of Arsenal will be issued upon the surrender for exchange of certificates pursuant to the Arrangement. In lieu of any such fractional entitlements, each person otherwise entitled to a fractional interest in an Arsenal common share will receive the nearest whole number of Arsenal common shares.

Letters of Transmittal were mailed to the holders of Tiverton Common Shares on January 26, 2006, requesting them to return the duly completed and executed Letters of Transmittal together with the certificates representing their Tiverton shares to Computershare Investor Services Inc. in Calgary or Toronto, in order to receive the Arsenal common shares to which they are entitled.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The commons shares offered have not and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable states securities.

Contact Information