updated 10/12/2010 7:15:47 AM ET 2010-10-12T11:15:47

DENVER, Oct. 12, 2010 (GLOBE NEWSWIRE) -- Two Rivers Water Company (OTCBB:TURV), a company focused on acquiring and developing water, farming and alternative energy in southern Colorado, and Petroglyph Energy, Inc., an Idaho corporation, announced today they have entered into a non-binding Memorandum of Understanding to complete a feasibility study for the treatment of produced water originating from coal bed methane production in Huerfano County, Colorado.

About Two Rivers Water Company

Formed in December 2002, Two Rivers is focused on acquiring and developing water, farming and alternative energy resources in southern Colorado.

Forward Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors.   Such factors include, among others, the inherent uncertainties associated with developing and acquiring land, water resources and alternative energies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in the press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.

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