The following is for immediate release in Canada, August 31, 2010 TUSCANY ENERGY Limited ANNOUNCES RESULTS FOR THE SIX MONTHS ENDED JUNE 30, 2010 Calgary, Alberta, Canada, August 31, 2010. Tuscany Energy Limited (TSXV: "TUS") Tuscany is pleased to report that the third horizontal Dina well on the Company s Evesham, Saskatchewan property has been successfully drilled and commenced production in July 2010. The well is the best well in the pool to date and is currently producing at an average rate of 110 Bbls/d with a 14% water cut. The three wells in pool are currently producing 175 Bbls/d. Tuscany has a 60% interest in the property. Tuscany is encouraged by the success to date in developing this pool and plans to continue drilling operations, with two additional wells adjacent to the new well on reduced spacing in Q4 2010. This will increase the pace of development and the Company s growth plans. A summary of current and cumulative production from the wells to Aug 25, 2010 is: Financial Revenue for the first six months of 2010 totaled $1,408,000 compared with $924,000 in the same period of 2009. The Company reported cash flow from operations of $283,000 for the period, compared with $158,000 in the six months ended June 30, 2009. Tuscany reported a loss of $216,000 for the period versus a loss of $254,000 for the same period in 2009. Capital expenditures for the six months ended June 30, 2010 totaled $1.1 Million compared with $334,000 during the same period in 2009. At June 30, 2010 Tuscany had a net debt of $3.55 million. Business Outlook Oil prices remained very strong during Q2 2010 compared with the extreme weakness in the second half of 2009. Tuscany is primarily an oil producer and plans to continue the development of its heavy oil property at Evesham, Saskatchewan, drilling a further two development wells on the property over the balance of 2010. In addition, to maximize the Company s exposure to new prospects while minimizing the overhead expenditures, the Company has entered into a Joint venture with two related public companies, Diaz Resources Ltd and Sharon Energy Limited Tuscany will share overhead costs with these partners and participate for a 30% interest in all new prospects developed by the group. The Company, with a solid production base, excellent relatively low risk exploration and development projects and a smaller, compact management team is ideally suited to grow in the current economic environment. Summary of Financial Operating Results Revenue for the first six months of 2010 totaled $1,408,000 compared with $924,000 in the same period of 2009. The Company reported cash flow from operations of $283,000 for the period, compared with $158,000 in the six months ended June 30, 2009. Tuscany reported a loss of $216,000 for the period versus a loss of $254,000 for the same period in 2009. Capital expenditures for the six months ended June 30, 2010 totaled $1.1 Million compared with $334,000 during the same period in 2009. At June 30, 2010 Tuscany had a net debt of $3.55 million. FOR FURTHER INFORMATION, PLEASE CONTACT: Robert W.
Tuscany Energy Ltd. is Edmonton-based company (Alberta, Canada) with a phone number 4032642398. Our data show that the company is located at the address: 633 U2013 6th AVE 2000 Calgary Trail SW. The company has a web site: www.tuscanyenergy.com.
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