Thunder Energy Trust
TSX : THY.UN

Thunder Energy Trust
Mustang Resources Inc.
TSX : MUS.A
TSX : MUS.B

Mustang Resources Inc.
Forte Resources Inc.
TSX : FRZ

Forte Resources Inc.

July 07, 2005 19:57 ET

Thunder Energy Inc., Mustang Resources Inc. and Forte Resources Inc. Announce the Closing of the Plan of Arrangement

CALGARY, ALBERTA--(CCNMatthews - July 7, 2005) - Thunder Energy Inc. (TSX:THY), Mustang Resources Inc. (TSX:MUS.A) (TSX:MUS.B) and Forte Resources Inc. (TSX:FRZ) jointly announced today the closing of the plan of arrangement to combine the three entities and create a new oil & gas trust; Thunder Energy Trust (THY.UN), two exploration focused producers; Alberta Clipper Energy Inc. (ACN) and Valiant Energy Inc. (VLE) and a resource based coal bed methane company Ember Resources Inc. (EBR).

Trading in the new entities is expected to begin next week on the Toronto Stock Exchange, as early as July 12, 2005.

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements including expectations of future production, cash flow and earnings. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. These risks include, but are not limited to: the risks associated with the oil and gas industry (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price and exchange rate fluctuation and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Additional information on these and other factors that could affect the Company's operations or financial results are included in the Company's reports on file with Canadian securities regulatory authorities.

Thunder Energy Inc. is a Calgary-based oil and gas exploration company. Thunder's shares trade on the Toronto Stock Exchange under the trading symbol "THY".

Mustang Resources Inc. is a Calgary-based oil and gas exploration company. Mustang's shares trade on the Toronto Stock Exchange under the trading symbol "MUS.A" and "MUS.B".

Forte Resource Inc. is a Calgary-based oil and gas exploration company. Forte's shares trade on the Toronto Stock Exchange under the trading symbol "FRZ".

Contact Information

  • Thunder Energy Inc.
    Douglas A. Dafoe
    President & C.E.O.
    (403) 294-1635
    (403) 232-1317 (FAX)
    Website: www.thunderenergy.com
    or
    Mustang Resources Inc.
    Richard A. M. Todd
    President & C.E.O.
    (403) 283-8990
    (403) 521-5284 (FAX)
    Website: www.mustangresources.com
    or
    Forte Resources Inc.
    Tom MacKay
    Chairman & C.E.O.
    (403) 237-5163
    (403) 237-5256 (FAX)
    Website: www.forteresources.ca