TUDOR PROVIDES UPDATE ON CORPORATE MATTERS AND TRANSITION TO NEX

CALGARY, Jan. 31 /CNW/ - Tudor Corporation (TSX: TDR) ("Tudor") wishes to provide an update on matters since its press release December 29, 2010.  In discussions with the TSX Venture Exchange ("TSXV"), it has been determined that until the proposed transaction is completed with Marzcorp Oil & Gas Inc. ("Marzcorp"), or Tudor completes a financing of its own, Tudor needs to apply to the NEX Board of the TSX Venture Stock Exchange ("NEX").  The application has been made and Tudor is anticipating it will trade under the symbol "TDR.H" on NEX effective February 8, 2011.  NEX is a separate trading board of the TSX Venture Exchange. There is no change in Tudor's name and no change in its CUSIP number. Accordingly, the delisting of Tudor from the Toronto Stock Exchange has been postponed from January 31, 2011, until February 7, 2011, in order to allow for an orderly transition to NEX.

In addition, further to a previous statement in the December 29 press release that stated almost 100% of Tudor's production is derived from natural gas, Tudor wishes to clarify that it currently has production from 5 oil wells in Canada, as well as 9 oil wells in the United States. 

Matters are still outstanding with an application for conditional approval to list the shares of the combined company of Marzcorp and Tudor on TSXV. The closing of the amalgamation is subject to, among other things, completion of the private placement being conducted by Marzcorp and subject to receipt of stock exchange approval.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

THIS PRESS RELEASE DOES NOT CONSTITUE AN OFFER TO SELL SECURITIES OR A SOLICITATION FOR PURCHASERS TO BUY SECURITIES.  THIS PRESS RELEASE IS NOT TO BE CONSTRUED AS A PUBLIC OFFERING IN ANY PROVINCE IN CANADA UNLESS A PROSPECTUS RELATING THERETO HAS BEEN ACCEPTED FOR FILING BY A SECURITIES COMMISSION OR SIMILAR AUTHORITY IN SUCH PROVINCE.

Investors are cautioned that this news release contains forward looking information concerning the timing and completion of the transaction with Marzcorp and the completion of the Marzcorp financing. There is a risk that the Marzcorp financing will not be completed and therefore the combination with Marzcorp would not be completed.  Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to the completion of the proposed transaction with Marzcorp, the Marzcorp financing or other matters addressed in this news release.

SOURCE Tudor Corporation Ltd.

For further information:

Lionel Conn
President and Director   
Phone (403) 250-7225  

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Tudor Corporation Ltd.

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