UnionTown Energy Inc.(fka UTOG)

[NZPaul]

I am neither long nor short on UTOG, but I have been asked to review this stock for a client and found this forum (we are based in New Zealand). I also must say that I have no intention of speculating on this stock but wanted to post some points. All the below points are cut directly from the period ending July 31st Q10a (amended). The major concern is that this company runs out of money and cannot secure additional funding before any oil gets to market. It looks like they will try and dilute the stock further to secure more funding, but this looks challenging also because of the 50% share price decrease since late September.

“We have had negative cash flows from operations and if we are not able to obtain further financing, our business operations may fail”.

The following line was written when UTOG was averaging around 0.30 a share at the end of September 2011: “A decline in the price of our common stock could affect our ability to raise further working capital and adversely impact our operations”.

“We have a history of losses and have a deficit, which raises substantial doubt about our ability to continue as a going concern”.

“Our common stock is illiquid and shareholders may be unable to sell their shares”.

UTOG July 31st 2011 Q10a

EDGAR Page for UTOG