11:50 AM EST - Twin Butte Energy Ltd. : announced that it has entered into an arrangement agreement providing for the acquisition by Twin Butte of all of the outstanding class A common shares of Avalon Exploration Ltd. on the basis of 1.1 common shares of Twin Butte for each outstanding Avalon Share Avalon is a private company with 100% of its production being heavy oil from properties located in the greater Lloydminster area. The deemed purchase price is approximately $88.9 million in value. Twin Butte Energy Ltd.
shares T.TBE are trading down $0.06 at $2.12.
