United Hunter Oil & Gas Corp (UHO)

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United Hunter Oil and Gas Corp. Commences Canadian Well Re-Completion Program
Date : 11/09/2010 @ 2:26PM
Source : Canada NewsWire
Stock: United Hunter Oil And Gas Corp (UHO)
Quote : 0.095 -0.005 (-5.00%) @ 12:45PM


United Hunter Oil and Gas Corp. Commences Canadian Well Re-Completion Program
United Hunter Oil And Gas Corp (TSX:UHO)
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United Hunter Oil & Gas Corp. (UHO: TSX-V) ("United Hunter").

United Hunter Oil & Gas Corp. (UHO) (TSXV - UHO) is pleased to announce

that it plans to commence between the last week of November and first

week of December, 2010 its Alberta, Canadian well re-completion

programs utilizing a new completion technology on two properties,

equipment permitting.

The first program is planned at Atlee Buffalo within the Mannville G oil

pool that was discovered in 1980 and is currently suspended. The

Mannville G pool at Atlee Buffalo (TWP 21; RGE 5; W4) has a large

aerial extent, thick pay zones and very good reservoir properties. UHO

has increased its working interest in the section to 95% through a

purchase of an additional 47.5% from 868218 Alberta Ltd. for

$54,648.50. The first well to re-enter at Atlee Buffalo will be a

suspended well transferred to UHO from Canadian Natural Resources Ltd.

Successful recompletion of this first well is expected to lead to the

potential re-completion of 9 suspended and abandoned wells on this

property.

The second program will be within the Wabamun formation D-1A oil pool,

discovered in 1963, on 2560 acres consisting of four contiguous

sections at the Leduc Woodbend Field (TWP 50; RGE 26; W4). The Wabamun

D-1A pool has 41(o) API oil and has had only intermittent production with very low

recoveries suggesting there is substantial oil left to recover. The

initial program will consist of re-completing two wells. If successful

there are more than 64 suspended or abandoned wells that could

potentially be re-entered; 12 suspended wells of the 64 wells are

adjacent to existing pipelines and another 13 suspended wells of the 64

wells are only 400 meters or less from existing pipelines.

Predominantly all the wells produced oil and gas from lower formations

and not the Wabamun.

The access to the Wabamun D-1A oil pool was obtained through a farmin

between UHO and MEC Operating Company ULC ("MEC"). The farmin agreement

allows UHO to earn 100% of the Wabamun Petroleum & Natural Gas rights

in each 40 acre spacing in which UHO completes a well, subject to a 10%

convertible Overriding Royalty payable to MEC which can be converted to

a 30% working interest after 60 days of production. UHO has a joint

venture with a private company, Snowcap Energy Inc., who is not a

signatory to the farmin agreement but has the right to earn 20% by

paying 28.5% of the costs of the re-completion program. UHO will

execute the re-entries and re-completions, but once production is

initiated in each well MEC will operate the project as MEC owns all the

existing pipelines and facilities.

Dr. Halleran, CEO of UHO comments "the two Canadian re-completion

programs are consistent with UHO's mandate to secure low risk oil

projects with suspended wells. The MEC project is particularly exciting

for UHO as the light oil Wabamun D-1A pool is underdeveloped, has

numerous wells that can re-completed and the gathering system and

facilities are already established".

United Hunter Oil & Gas Corp. (www.unitedhunteroil.com) is a Canadian

based corporation with management very experienced in the oil and gas

industry and has projects in California and Canada. United Hunter Corp is publicly traded on TSX Venture Exchange (TSX-V:

UHO). The Corporation's public filings may be found at http://www.sedar.com.

Certain statements contained in this press release constitute

"forward-looking statements" as such term is used in applicable

Canadian and US securities laws. These statements relate to analyses

and other information that are based upon forecasts of future results,

estimates of amounts not yet determinable and assumptions of

management.

Any statements that express or involve discussions with respect to

predictions, expectations, beliefs, plans, projections, objectives,

assumptions or future events or are not statements of historical fact

and should be viewed as "forward-looking statements". Such forward

looking statements involve known and unknown risks, uncertainties and

other factors which may cause the actual results, performance or

achievements of the Corporation to be materially different from any

future results, performance or achievements expressed or implied by

such forward-looking statements. Such risks and other factors include,

among others, costs and timing of exploration and production

development, availability of capital to fund exploration and

production development; political, social and other risks inherent in

carrying on business in a foreign jurisdiction, the effects of a

recessionary economy and such other business risks as discussed herein

and other publicly filed disclosure documents. Although the

Corporation has attempted to identify important factors that could

cause actual actions, events or results to differ materially from those

described in forward-looking statements, there may be other factors

that cause actions, events or results not to be as anticipated,

estimated or intended. There can be no assurance that such statements

will prove to be accurate as actual results and future events could

vary or differ materially from those anticipated in such statements.

Accordingly, readers should not place undue reliance on forward-looking

statements contained in this news release.

Forward-looking statements are made based on management's beliefs,

estimates and opinions on the date the statements are made and the

Corporation undertakes no obligation to update forward-looking

statements and if these beliefs, estimates and opinions or other

circumstances should change, except as required by applicable law.

This news release contains forward-looking statements based on

assumptions, uncertainties and management's best estimates of future

events. When used herein, words such as "intended" and similar

expressions are intended to identify forward-looking statements.

Forward-looking statements are based on assumptions by and information

available to the Corporation. Investors are cautioned that such

forward-looking statements involve risks and uncertainties. Actual

results may differ materially from those currently anticipated. The

forward-looking statements contained herein are expressly qualified by

this cautionary statement.

The TSX.V Venture Exchange does not accept responsibility for the

adequacy or accuracy of this release.

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