Dec 9 (Reuters) - Twin Butte Energy Ltd TBE.TO :
* Announces initiation of strategic review process, bank facility update and
dividend suspension
* Says has established a special committee to oversee the process
* Says current availability under the credit facilities remains at $275 million
* Says has engaged peters & co. limited and national bank financial inc. as its
financial advisors to advise the company
* Says upon initial discussions, co anticipates decrease in total credit
facilities to about amount of $230 million
* Capital spending is expected to be below $83 million for 2015
* Strategic alternative review process has not been initiated as a result of
receiving any offer
* Board of directors has approved the suspension of its monthly dividend
effective immediately
* Source text for Eikon ID:nCNW9zRHfa
* Further company coverage TBE.TO