Alberta Chamber of Resources

Alberta Chamber of Resources

February 05, 2010 09:00 ET

Twin Butte and Frog Lake First Nation Business Acumen Rewarded by Alberta Resource Leaders

EDMONTON, ALBERTA--(Marketwire - Feb. 5, 2010) - Twin Butte Energy Ltd. and Frog Lake Energy Resources Corp. (a Frog Lake First Nation Company) are being honoured for their joint venture partnership in the creation and operation of a successful, and growing oil and gas company.

The two organizations will receive the coveted Alberta Chamber of Resources and Alberta Aboriginal Relations Rewarding Partnership award at the Alberta Chamber of Resources 74th Annual Awards Banquet at 6:00pm MST this evening at the Shaw Conference Centre in Edmonton, Alberta.

"Our partnership is an example of how determination and the will to make something work for both parties can lead to success", said Joe Dion, President of Frog Lake Energy Resources Corp. "Both entities – Twin Butte and the Frog Lake First Nation –knew that if we launched and nurtured this company, we would together be in a strong position for long-term success and growth and today we are. Our community succeeds along with us."

"This partnership is yet another example of some of the progressive work our First Nation has undertaken," said Frog Lake First Nation Chief Clifford Stanley. "The work FLERC is doing in the Frog Lake Reserve Lands is having a very positive impact in our First Nation, leading to increased employment and joint ventures with service companies that benefit Frog Lake First Nation members, as well as increased royalty revenues for housing. Truly, FLERC is an example of success when politics is kept away from business. All former Chiefs of Frog Lake First Nation made this the paramount objective and as the Trusted Shareholder of FLERC and I am carrying that on," he added.

The concept of being equal equity partners was paramount to this agreement from the beginning and continues today. Starting from scratch, this partnership has developed into an impressive business with the people, the finances and the desire to succeed in an extremely challenging business. Since 2003 the partnership between FLERC and Twin Butte has developed a disciplined exploration program leading to a material production operation at Frog Lake. To date there has been over $50 million of investment to the benefit of both parties.

Today, Frog Lake Energy has become the most successful First Nations wholly-owned energy company in Canada. Production exceeds 1300 bpd, current working capital exceeds $15 million and with cash flow of one million dollars per quarter. Twin Butte has enjoyed comparable success in its Frog Lake program. This accomplishment is not an accident, or merely the result of good luck and high oil prices; FLERC's growth has been solid, consistent and will be sustainable.

"Rewarding Partnerships was designed to celebrate excellence and innovation between industry and Aboriginal communities in Alberta," said Alberta Chamber of Resources Executive Director Brad Anderson. "This represents the way things should be done: resource development benefiting the communities near the resources. I expect FLERC's success will inspire other partnerships to benefit all Albertans."



The Alberta Chamber of Resources represents 187 member organizations and is dedicated to the orderly and responsible development of all of Alberta's natural resources. The Chamber provides leadership on resource industry issues important to Alberta's economic, social and environmental well-being. For more information, visit


Frog Lake Energy Resources Corporation (FLERC) is a private energy company that has grown steadily since its incorporation in 2003. In October 2005, FLERC production exceeded 50 barrels of oil a day. In March of the same year, it exceeded 450 barrels a day. It now exceeds production of 1300 boe/d.

As the company has grown, FLERC has made Joint Venture Agreements with other oil and gas companies in the area, partnered with highly skilled management teams, and grown through selective acquisitions and drilling. Some of the companies that have Joint Venture Agreements with FLERC include Buffalo Oil, Canadian Natural Resources Limited, and Petromin Resources, and now Twin Butte Energy Ltd. FLERC's agreements with these companies ensure its involvement in decisions about resource development on Frog Lake First Nation reserve land, and the continued growth of FLERC.

The continued growth of the company is a benefit to the Frog Lake First Nation, which is the sole owner of FLERC. Four of the people on the six-member board of FLERC are Frog Lake First Nation members. FLERC's mission is to develop the oil and gas resources on Frog Lake First Nation reserve lands in an orderly fashion, and to ensure that benefits from that development flow to the people of the Frog Lake First Nation. FLERC wants to create long-term benefits for the Frog Lake First Nation and its membership.


Twin Butte Energy Ltd. is a growth orientated junior oil & gas company based in Calgary, Alberta that trades on the TSX under the symbol "TBE". The company commenced operations in June 2006 utilizing a tax loss vehicle structure and enjoys current carry forward tax losses and pools in excess of $300 million.

The management team is focused on creating per share growth through a combination of organic growth and strategic acquisitions. Corporate assets are primarily operated and high working interest with focus on assets located in the Deep Basin region of Western Alberta, the conventional heavy oil play at Frog Lake, and the Pincher Creek long life gas assets. The combination of a focused asset base, tax pools and a strong balance sheet, position the Company well for future growth and increased shareholder value.

Contact Information

  • Twin Butte Energy Ltd.
    J. Saunders
    President and CEO
    (403) 215-2040
    Frog Lake Energy Resources Corp.
    Joe Dion
    President and CEO
    (780) 573-4777
    Alberta Chamber of Resources
    Brad Anderson
    Executive Director
    (780) 420-1030