BRIEF-Twin Butte says uncertainty surrounding ability to continue as going concern

Tue Mar 22, 2016 9:34pm EDT
 
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March 22 (Reuters) - Twin Butte Energy Ltd :

* Within context of ongoing strategic alternatives process, there is uncertainty surrounding company's ability to continue as a going concern

* Due to current pricing environment and lack of liquidity no development projects have or will be undertaken in Q1 2016

* Production is expected to continue to decline throughout year exiting in 10,000 boe/d range

* Have had to reduce staff counts and decrease compensation for everyone Source text for Eikon: Further company coverage: (Bengaluru Newsroom; +1 646 223 8780)