TUSCANY ENERGY LTD. ANNOUNCES THE DRILLING OF TWO NEW HORIZONTAL WELLS AT
EVESHAM SASKATCHEWAN HAS COMMENCED; AND ANNOUNCES FINANCIAL RESULTS FOR THE
NINE MONTHS ENDED SEPTEMBER 30, 2010

Tuscany Energy Ltd. (TSXV: "TUS")

CALGARY, Nov. 30 /CNW/ - Drilling operations on Tuscany's fourth and fifth horizontal Dina wells on the Evesham property commenced on November 24, 2010. Tuscany plans to have the wells on production by year end. An analysis of analogous oil pools to the north of Evesham indicates that well spacing of 50 metres may significantly increase the eventual reserves recovered from the pool. Therefore the next two wells will be drilled on 50 metre spacing. Up to 8 additional wells are planned to be drilled in 2011. Three existing wells in the pool produced an average of 130 Bbls/d (77 Bbls/d net to Tuscany) in Q3 2010. Tuscany has a 60% interest in the Evesham property.

On November 16, 2010 Tuscany closed a $1.2 million flow through share financing in order to fund the drilling of the two wells. 

Operations

Tuscany's production increased to 143 BOE/d in the first nine months of 2010 from 131 BOE/d for the nine months ended September 30, 2009, as declining gas production was offset by higher oil production. Higher oil prices resulted in a 35% increase in production revenue for the period.

The recompletion of an existing Dina well into a water disposal well together with the construction of disposal facilities and a pipeline from the oil battery enabled water disposal to commence in January 2010.  This facility has substantially reduced the Company's operating costs in this area and enhanced the profitability of this project.

During the quarter, Tuscany drilled a vertical Shaunavon oil well, 91/13-19-007-18W3M, located in the Chambery field, Saskatchewan.  Based on Tuscany's analysis, the open hole logs indicate potential oil pay in two zones.  Tuscany has a 35% interest in the section. The operator is applying to the Saskatchewan Government to commingle the Upper Shaunavon and Lower Shaunavon zones and anticipates bringing the well on production before the end of the year. The company plans to eventually develop the section with horizontal wells.

Financial

The Company reported improved revenues and cash flows for the nine months ended September 30, 2010 compared with the same period in 2009.  Revenue for the first nine months of 2010 totaled $2,105,000 compared with $1,342,000 in the same period of 2009. The Company reported cash flow from operations of $339,000 for the period, compared with $144,000 in the nine months ended September 30, 2009.  Tuscany reported a loss of $565,000 for the period versus a loss of $182,000 for the same period in 2009.

Capital expenditures for the nine months ended September 30, 2010 totaled $1.7 Million compared with $505,000 during the same period in 2009.

At September 30, 2010 Tuscany had a net debt of $4.2 million.

The following map shows Tuscany's Evesham Dina property with existing wells and current drilling locations: http://files.newswire.ca/883/20101130_TUS_graph.doc

Business Outlook

Oil prices remained very strong during Q3 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 Ltd. 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

				Nine Months Ended
				September 30
				2010	2009
Financial (thousands except per share amounts)
	Revenue net of royalties			$             2,107	$ 1,342
	Cash flow from operations			$                340	$    144
		per share, diluted		$               0.01	$       -
	Loss for the period			$              (564)	$  (182)
		per share, diluted		$             (0.01)	$ (0.01)
	Property, plant and equipment - additions			$             1,713	$    505
	Net Debt			$             4,167	$ 3,224
	Total shares outstanding at period end			54,852	34,768
Operations
	Production
		Oil & NGL  (Bbl/d)		114	99
		Gas (Mcf/d)		176	190
		BOE/d (6 Mcf = 1 Bbl)		143	131
	Product Prices
		Oil ($/Bbl)		$             62.00	$ 50.39
		Gas ($/Mcf)		$               4.10	$   3.92

ADVISORY: Certain information regarding the Company in this News Release including management's assessment of future plans and operations may constitute forward-looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, capital expenditure costs, including drilling, completion and facilities costs, unexpected decline rates in wells, wells not performing as expected, incorrect assessment of the value of acquisitions, failure to realize the anticipated benefits of acquisitions, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources.  As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.  Readers are cautioned that the foregoing list of factors is not exhausted.  Additional information on these and other factors that could effect the Company's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com) and at the Company's website (www.tuscanyenergy.com).  Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

Where amounts are expressed on a barrel of oil equivalent (boe) basis, natural gas volumes have been converted to barrels of oil at six thousand cubic feet (mcf) per barrel (bbl).  Boe figures may be misleading, particularly if used in isolation.  A boe conversion of six thousand cubic feet per barrel is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.  References to oil in this discussion include crude oil and natural gas liquids (NGLs).

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

For further information:

Robert W. Lamond, Chairman & CEO        TUSCANY ENERGY LTD. Telephone:  [phone] Fax:  [phone] TSX Venture:  TUS

John G.F. McLeod, Vice President & COO TUSCANY ENERGY LTD. Telephone:  [phone] Fax:  [phone]