Turner Valley Oil & Gas Inc. incorporated a wholly owned Canadian subsidiary TV Oil and Gas Canada Limited. TV Oil and Gas Canada Limited is a Federal Canadian Registered Company and complies with all applicable laws within Canada.

Turner Valley Oil and Gas Inc., through its wholly owned subsidiary TV Oil and Gas Canada Limited exchanged all of Turner Valley's interests in the Triangle Region for consideration of $1,418,768 Cdn. In lieu of cash consideration, TV Oil and Gas received 1,300,303 common voting shares of Win Energy Corporation.

It is the intention of Turner Valley Oil and Gas Inc. and its wholly owned subsidiary TV Oil and Gas Canada Limited to focus its efforts on supporting the extensive drilling program that is currently underway in WIN Energy Corporation and the Company's direct working interest in the Strachan Project.

WIN Energy Corporation holds interests in petroleum and natural gas rights in the Hillsprings, North Cowley, Pincher Creek, South Cowley, Todd Creek (collectively, the "Southern Alberta Foothills Belt"), Strachan and Turner Valley areas of Alberta. In addition, the Corporation owns all of the issued and outstanding Securities of Triangle Resources Inc. ("Triangle"), which in turn holds interests in petroleum and natural gas rights in the Southern Alberta Foothills Belt.

WIN Energy is focusing mainly on sweet "tight" gas that has become a major focus of exploration in Alberta. Tight gas reserves are characteristically found in low porosity sandstones in a largely water-free basin. These reserves generally have long life production with low decline rates. The Triangle Zone contains structural traps holding potential prolific reserves. Seismic applications are the key exploration tools used in this type of exploration.

Based on published maps and reports by the Geological Survey of Canada, four prospective geological structures in the Triangle Zone have been identified: Turner Valley, Todd Creek, Cowley and Pincher Creek. All of these structures contain old well bores with apparent missed gas pay zones. Win had originally classified these prospects as potential gas pools. By June 2004, Win had acquired 10.3 sections (6,398 net acres) of acreage representation on the four structures.

Accordingly WIN Energy now controls a total of 65,418 gross acres (86.5 sections) which are distributed over these four prospects.

The following provides an update on the properties of WIN Energy Corp.

1. Cowley – 32,027 Gross acres. WIN has drilled eight exploration wells which has resulted in;
   • Three cased and completed natural gas wells
   • Four cased potential gas wells awaiting production testing
   • One suspended well
2. Todd Creek – 29,195 gross acres. WIN has drilled two exploration wells and acquired one well. The results are;
   • Two cased and completed natural gas wells
   • One suspended well.

An independent evaluation of the above two properties by McDaniel & Associates Consultants Ltd., as at December 31, 2005, dated February 10, 2006 indicate a proven reserve of 1,200 BOE/d (Barrels of Oil Equivalent per day).

3. Quaich – 640 gross acres. WIN has not drilled any wells at this time.
4. Hillspring – 2,106 gross acres. WIN has not drilled any wells at this time.
5. Pincher Creek – 1,450 acres. WIN has not drilled any wells at this time.