United Hunter Oil & Gas Corp (UHO)

[ICEQUITY]

UNITED HUNTER OIL & GAS CORP. ANNOUNCES PORTER RANCH ACQUISITION
Date : 02/17/2011 @ 8:06AM
Source : Canada NewsWire
Stock : United Hunter Oil And Gas Corp (UHO)
Quote : 0.14 0.0 (0.00%) @ 3:33PM

UNITED HUNTER OIL & GAS CORP. ANNOUNCES PORTER RANCH ACQUISITION
United Hunter Oil And Gas Corp (TSX:UHO)
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Today : Saturday 19 February 2011
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United Hunter Oil & Gas Corp. (TSXV:UHO) is

pleased to advise the acquisition of oil exploration leases known as

the Porter Ranch comprising 4068 acres adjacent to the highly prolific

Santa Maria Basin (850 million bbls produced up to 2008) and south east

of the company's Mankins Ranch Project (Huasna).

The Porter Ranch leases are held by Alamo Creek Oil LLC (Alamo) a

Californian incorporated company, 45% owned and jointly operated by UHO

and 45% by it's Mankins Ranch partner Australian Oil Company (AOC) and

10% owned by CALOG LLC ( a wholly owned subsidiary of AOC). The leases

were briefly explored in the 1980's by Philips Petroleum Company (PPC)

who drilled one well and completed extensive roadwork and well pads for

2 well sites prior to abandoning due to depressed oil prices. There has

been no subsequent exploration since that time. Assuming that PPC

located these 2 well sites on valid structures it is possible that 2

exploration wells could be drilled as soon as approvals are granted by

the County.

PPC drilled the only well on the Porter Ranch in 1984 which tested oil

from 3 separate zones before encountering drilling problems and being

plugged and abandoned. Alamo is currently evaluating the economics of

re-drilling this well.

Adjacent wells have tested oil ranging from light (30 API) to heavy

(15-18API), some with associated gas and numerous surface oil seeps.

Within the leased area there are currently 2 anticlinal structures

which have been only tested at their extremities.

The forward work program includes acquiring all historical well and

seismic data prior to the possible acquisition of new seismic data over

the anticlines. Based on this information up to 3 exploration wells may

be drilled.

In addition, UHO is in advanced negotiations to lease an additional

adjacent 4982 acres.

The Huasna Basin contains thick sequences of oil prone Monterey

Formation.

Forward-Looking Statement Disclaimer

This press release includes certain statements that may be deemed

"forward-looking statements". All statements in this press release,

other than statements of historical facts, including those that

announce proposed financings that the Company expects to complete, are

forward-looking statements. Although the Company believes the

expectations expressed in such forward-looking statements are based on

reasonable assumptions, such statements are not guarantees of future

performance, and actual results or developments may differ materially

from those in the forward-looking statements. Factors that could cause

actual results to differ materially from those in forward-looking

statements include the failure of investors who are believed to have

committed to the financings to complete them as a result of general

market conditions, adverse developments unique to such investors, or

otherwise. Accordingly, the actual amounts raised may differ materially

from those projected in the forward-looking statements. For more

information on the Company, investors should review the Company's

filings, available at www.sedar.com and www.sec.gov. This announcement

does not constitute an offering of securities nor a solicitation to

purchase securities. An offer of securities will only be made by

subscription agreement and subject to applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as

that term is defined in policies of the TSX Venture Exchange) accepts

responsibility for the adequacy or accuracy of this release.