E4 Energy Inc. Obtains Interim Order and Announces Meeting

E4 Energy Inc. ("E4") (TSX VENTURE:EFE) is pleased to announce that it has
obtained an interim order of the Court of Queen's Bench of Alberta providing
for, among other things, the holding of a special meeting of the shareholders of
E4 to approve the previously announced arrangement under the Business
Corporations Act (Alberta) (the "Arrangement") with Twin Butte Energy Ltd.
("Twin Butte").


A special meeting of the holders of common shares of E4 (the "E4 Shareholders")
will be held in respect of the Arrangement at the Sandman Hotel, 888 - 7th
Avenue S.W., Calgary, Alberta, on Thursday, February 7, 2008 at 9:00 a.m.
(Calgary time).


E4 will mail a management information circular and proxy statement respecting
the meeting to the E4 Shareholders on January 10, 2008. Following mailing, the
information circular and proxy statement will be available for viewing
electronically under E4's profile on SEDAR at www.sedar.com.


Pursuant to the Arrangement, Twin Butte will acquire, subject to certain
conditions, all of the issued and outstanding common shares of E4, for total
consideration of approximately $55.6 million, including the assumption of
approximately $17.2 million of net debt (the "Transaction"). Under the terms of
the Transaction, Twin Butte will issue approximately 15.66 million common shares
to the shareholders of E4 based on an exchange ratio of 0.3673 of a Twin Butte
common share for each common share of E4.


The completion of the Arrangement is subject to certain conditions, including
the receipt of the approval of the E4 Shareholders and the final approval of the
Court of Queen's Bench of Alberta and all applicable regulatory authorities. If
all necessary approvals are obtained and the conditions to the completion of the
Arrangement are satisfied or waived, E4 anticipates that the Arrangement will
become effective on or about February 8, 2008.


The Board of Directors of E4 has unanimously determined that the Arrangement is
in the best interests of E4 and its shareholders. The Board of Directors
unanimously recommends that the holders of common shares of E4 vote to approve
the Arrangement at the meeting planned for February 7, 2008.


Reader Advisory

Certain information regarding E4 set forth in this news release including
management's assessment of E4's future plans and operations, the effect of the
Transaction on E4 and on shareholders of E4, timing of matters relating to the
approval of the Transaction and implementation thereof, contain forward-looking
statements that involve substantial known and unknown risks and uncertainties.
These forward-looking statements are subject to numerous risks and
uncertainties, certain of which are beyond E4's control including, without
limitation, the impact of general economic conditions, industry conditions,
volatility of commodity prices, currency fluctuations, imprecision of reserve
estimates, environmental risks, competition from other producers, lack of
availability of qualified personnel, stock market volatility, ability to access
sufficient capital from internal and external sources, uncertainty related to
completion of the Transaction and the effect thereof and failure to receive
required shareholder and regulatory and other approvals. E4's actual results,
performance or achievements may differ materially from those expressed in, or
implied by, these forward-looking statements and, accordingly, no assurance can
be given that any events anticipated by the forward-looking statements will
transpire or occur, or if any of them do so, what benefits that E4 will derive
therefrom. Additional information on these and other factors that could affect
E4's results are included in reports on file with Canadian securities regulatory
authorities and may be accessed through the SEDAR website (www.sedar.com), at
Twin Butte's website (www.twinbutteenergy.com) or E4's website
(www.e4energy.ca). Furthermore, the forward-looking statements contained in this
news release are made as at the date of this news release and E4 does not
undertake any obligation to update publicly or to revise any of the
forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required by applicable securities laws.