Thunderbird Expands Land Position

THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION
TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT
CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. 


Thunderbird Energy Corp. (TSX VENTURE:TBD)(FRANKFURT:M2Y) (the "Company") today
provided a shareholder update on recent corporate developments.


Gordon Creek, Utah - Land Acquisitions

The Company has expanded its Gordon Creek land base by 85% over the past few
months, to roughly 7600 acres. Thunderbird intends to continue to acquire
contiguous acreage, all of which is considered prospective for development and
some of which is expected to add reserves. The impact of these land acquisitions
on the Company's net reserve position will be assessed as of the Company's
January 31, 2011 year end. Prior to the recent land acquisitions, MHA Petroleum
consultants of Denver, Colorado completed an evaluation of the Company's Gordon
Creek reserves, in accordance with National Instrument 51-101, which estimated
Proved (1P) reserves at 9.3 billion cubic feet (Bcf) and Proved plus Probable
(2P) reserves at 30 Bcf. The estimated discounted present value of these
reserves (PV10) as at January 31, 2010 was US$49.7 million. 


Development Plans

Building on the Gordon Creek Best Practices Study completed by the Company in
2009, Thunderbird has mapped out an extensive 3 stage development plan, the
first 2 stages of which contemplate drilling of up to 36 wells and re-completing
a further 5 standing wells. Activities to date include extensive geological and
engineering analysis, the development of specific drilling and completion
protocols, detailed cost estimation and economic analyses. Roads, pipeline
routes and an initial 26 drilling locations have been formally surveyed and the
permitting process has been initiated. The development plan has been designed in
consultation with various stakeholders including local and State wildlife
officials. The development plan has also been completed in consultation with
Artola Energy, LLC of Houston Texas, in accordance with the previously announced
joint venture agreement. To date, Artola has not been able to complete the
required initial joint venture financing of $20 million, however the Company is
continuing to work with Artola on a non-exclusive basis. The Company is also
seeking alternative arrangements to finance the Gordon Creek development plan.


South West Partnership CO2 Project

Thunderbird is continuing to work closely with the Southwest Regional
Partnership ("SWP") to complete the development plan for its Carbon
Sequestration Phase III: Deep Saline Sequestration Deployment Project to be
sited at Gordon Creek. This project will be funded approximately 80% by the US.
Department of Energy ("DOE") and 20% by the other participants, including
Thunderbird, The University of Utah through the Utah Science Technology And
Research initiative ("USTAR") and the New Mexico Tech - Petroleum Recovery
Research Center. It is anticipated that the project will represent an investment
in excess of Twenty Million (US$20,000,000) in wells, facilities and
infrastructure to be situated at Gordon Creek. Work during the last few months
has consisted of further design refinement and costing analysis, as well as
navigating the project through the extensive DOE approval process. It is
anticipated that the approval process will be completed in the first quarter of
2011 to allow the commencement of operations in the second quarter.


Weston County Oil Project

In late August Thunderbird announced that it has entered into an agreement with
Ascent Exploration, Inc. ("Ascent") of Southlake, Texas to farm out roughly
one-half of the Company's Weston County, Wyoming oil project acreage. Ascent has
recently completed its legal due diligence and paid the first acreage bonus
stipulated in the farm out agreement. Ascent has advised Thunderbird that it
currently plans to drill the first well on the project in the second quarter of
2011.


The Weston County project is located in a prolific oil and gas producing area of
the Eastern Powder River Basin. The project has a number of conventional oil and
natural gas targets in the Dakota and Minnelusa formations. The Cretaceous
Dakota and Permo-Penn Minnelusa are both highly productive sandstone reservoirs
when found in trapping positions and have accounted for hundreds of millions of
barrels of production in the Powder River Basin. Examples of Dakota and
Minnelusa fields in the vicinity of the Weston County Project include the Donkey
Creek, Raven Creek, Coyote Creek and Slattery fields, which have cumulative
production to date of 100 million barrels of oil and 40 Bcf of natural gas.


Financing

On November 3, 2010 Thunderbird announced the first tranche closings of an
equity offering and a 15% Natural Gas Linked Debenture issue. Concurrent with
the latter closing, Thunderbird was able to fully retire and discharge its
existing third party banking credit facility.


Commenting on these recent developments, Cameron White, President of Thunderbird
Energy stated, "Although the past year has been a challenging one for natural
gas producers in North America, we have taken the opportunity to expand our
asset base and to take significant steps towards the development of our natural
gas, oil and C02 resources. These steps, together with our recent debenture
financing, are key components of our overall strategy to rapidly grow our
reserves and asset base."


Thunderbird Energy is a Canadian based oil and gas exploration and production
Company with interests in the US Rockies and mid-continent regions.
Thunderbird's holdings include the Gordon Creek, Utah natural gas field, the
Rush County, Kansas light oil project and a light oil exploration project in
Weston County Wyoming. 


Caution Regarding Forward- looking information

Certain information in this news release 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, except as required by applicable
securities laws. The Company's actual reserves and future production may be
greater that or less that the estimates provided. The estimated future net
revenue from the production of the Company's reserves does not necessarily
represent the fair market value of Thunderbird Energy's reserves. 


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 the estimated costs
or results expressed or implied by such forward-looking statements. Readers
should not place undue reliance on forward-looking information. 


THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR
SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT
THEREFROM.

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