Intelbahn Inc./UnionTown Energy Explores Opportunities in Rich Heath Plays in Montana
Shale Oil and Gas an Increasingly Important Source of Natural Gas in the United States
Nov. 29, 2010 (Marketwire) --
LAS VEGAS, NV -- (Marketwire) -- 11/29/10 -- Intelbahn Inc./UnionTown Energy Inc. (OTCBB: INBH), an Independent Oil & Gas Company, today announced that it has commenced its review of key projects provided by outside oil and energy advisors in potential opportunities including those in the in the newly developing Heath Formation in Montana.
The Heath Shale Formation in Montana is a shale formation characterized by high oil content, porosity and significant fracturing. And The State of Montana recently issued drilling permits to several operators to explore for oil in fractured Mississippian Heath shale in the Central Montana Trough, with the main areas of interest for horizontal drilling being in Garfield, Petroleum, Fergus, Musselshell, and Rosebud counties.
UnionTown is now assessing a number of leasehold properties that may hold potential for oil and gas production made possible by new technologies that have made the drilling for oil and natural gas much easier with a great potential for payoff.
Shale gas recover technologies were recently featured on CBS' "60 Minutes." During the segment, Aubrey McClendon, the CEO of Chesapeake Energy, was quoted as saying, "In the last few years, we've discovered the equivalent of two Saudi Arabias of oil in the form of natural gas in the United States. Not one, but two."
UnionTown Energy
UnionTown Energy Inc. is an Independent Oil & Gas Company whose focus is on the acquisition, development and production of oil and natural gas properties. The Company is pursuing a strategy of building a portfolio of energy producing assets that include coal bed methane, natural gas, shale gas, oil sands and deep natural gas throughout Western Canada and the United States. The Company's flagship property is located in Kansas within the Cherokee basin, which has been producing gas from shale and coal deposits for over eighty years and has 2.8 Tcf of potential recoverable CBM. Please visit www.uniontownenergy.com
Safe Harbor
The information in this release includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Although the company believes that its expectations are based on reasonable assumptions, actual results may differ materially. These forward-looking statements involve risks and uncertainties that include, among others, fluctuations in natural gas and crude oil prices; the timely receipt of necessary permits and approvals; market demand for, and/or available supplies of, energy-related products and services; unanticipated project delays, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, government regulation and taxation. More information about factors that potentially could affect the Company's financial results is included in its filings with the Securities and Exchange Commission.
Contact:
Patrick Smyth
(702) 530-3241
Email Contact
Source: Marketwire (November 29, 2010 - 8:50 AM EST)
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