Thunderbird Energy Corp.: Year End Reserves and Operations Update

Thunderbird Energy Corp. (TSX VENTURE:TBD) (the "Company") today announced the
completion of the evaluation of its Gordon Creek, Utah natural gas reserves. The
evaluation was prepared by GLJ Petroleum Consultants of Calgary, Alberta
effective January 31, 2012 in accordance with National Instrument 51-101 -
Standards of Disclosure for Oil and Gas activities. Form 51-101F1, Form 51-101F2
- Report of Independent Qualified Reserves Evaluator, and Form 51-101F3 - Report
of Management and Directors on Oil and Gas Disclosure have been filed with
Canadian securities regulators. Copies of these documents may be viewed on the
System for Electronic Document Analysis and Retrieval website at www.sedar.com.


The Company wishes to highlight a few aspects of the reserve evaluation: 



--  Proved Reserves increased 50% over the previous year from 7,457 Mmcf to
    11,171 Mmcf. 
    
--  Probable Reserves increased 49% over the previous year from 18,515 Mmcf
    to 27,589 Mmcf. 
    
--  The discounted cash flow valuation (PV10) of the Company's proved plus
    probable reserves increased 84% over the previous year from $37.9
    million to $69.9 million. 



The GLJ report assigned reserves to approximately 3250 net acres that include
the historical Gordon Creek wells as well as the 2 wells that were drilled and
cased for production in the fall of 2011. Subsequent to the January 31, 2012
effective date of the GLJ report, the company drilled 6 new wells, situated at
the extreme northwestern portion of the Gordon Creek lands, that evaluate an
additional approximate 2200 net acres. A further 2,750 net contiguous acres
remain undeveloped at this stage. 


A complete suite of open hole logs was obtained on 4 of the 6 new wells and, the
Company intends to run cased hole logs on the remaining 2 prior to initiating
completion operations. Management continues to be encouraged by the sand and
coal thicknesses and the sand porosities in the north-west Gordon Creek wells
which, on average substantially exceed the thicknesses and porosities of the
historical Gordon Creek wells. It is also significant that the north-western
Gordon Creek wells are in an area of the project that is situated farthest from
the existing production at Gordon Creek and at neighboring Drunkard's Wash. 


The most recently drilled wells were also situated on the highest topography at
Gordon Creek and resulted in some of the most challenging drilling conditions
encountered to date, including increased drilling depths from surface,
substantially increased fresh water inflows and other related drilling issues.
As a result, the Company has adapted and modified its drilling protocols for
future operations. The Company is also conducting a detailed review of its
planned completion programs in order to incorporate recent drilling results as
well as recent innovations in completion technologies, with a view to enhancing
results and reducing costs. 


In addition to drilling, the fall and winter program included the following:



--  Designing and constructing a gas-fired power generation facility that
    will provide electrical power throughout the field. 
    
--  Completing a substantial work-over of the dual purpose GCU#1 well, in
    order to enhance gas production from the well and add water injection
    capacity to handle the anticipated water disposal requirements for the
    foreseeable future. 
    
--  Acquiring sufficient additional mineral interests to expand our Gordon
    Creek undrilled inventory to approximately 70 locations.



"We are extremely pleased with the growth in our reserves over the past year and
are looking forward to future reserve evaluations that will incorporate the
results of our calendar 2012 drilling and land acquisitions. Coal and sand pay
thicknesses and porosities are also very encouraging and we are anxious to
finalize and implement our completion programs," stated Rick Ironside, President
of Thunderbird Energy. "However, one-time, front-end infrastructure costs that
we have incurred, combined with start-up drilling issues, production delays and
depressed natural gas prices have placed us in a much tighter cash position than
we originally budgeted. Accordingly, we are currently evaluating a number of
potential financing avenues so that we can complete the balance of our 2012
capital expenditure program and can fulfill our commitments under our previously
announced agreement with Sandstorm Metals & Energy Ltd."


The Company is also pleased to announce the appointment of John Bell of Calgary,
Alberta as Chief Financial Officer. Mr. Bell is a Chartered Accountant and has
over 10 years experience serving in various accounting and financial roles in
the oil and gas sector, most recently serving as CFO of Cirrus Energy
Corporation prior to its +$100 million acquisition by Oranje-Nassau Energie B.V.
in 2011. Mr. Bell replaces Barb Harwood who has served as the Company's CFO
since 2009 and presently serves as the CFO of a Vancouver based film and
television company. The Company would like to thank Ms. Harwood for her
dedicated service and wish her well in her current and future endeavors.


Thunderbird Energy is a Canadian-based oil and gas exploration and production
Company with interests in the US Rockies and mid-continent regions.


Caution Regarding Forward- looking information

Information in this news release respecting anticipated petroleum and natural
gas reserves and valuations, as well as the Company's proposed development
operations 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 unless required by applicable securities legislation. 


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 estimated costs or
results expressed or implied by such forward-looking statements.  


There can be no assurance that forward-looking statements will prove to be
accurate. Actual results and future events could differ materially from those
anticipated in such statements. Readers should not place undue reliance on
forward-looking information.