CALGARY, Dec. 14 /CNW/ - Unitech Energy Resources Inc. ("Unitech") (TSXV:
URX) is pleased to announce that the operator of its Keg River prospect in NE
British Columbia has notified Unitech that completion of the test well (the
"Well") has commenced. The operator has stated that the intention is to
proceed to completion as quickly as possible and that the completion may occur
prior to December 31, 2007, depending on availability of equipment. The Well
was drilled and cased in the spring of 2007 to within approximately 50 metres
of the target Keg River formation.
Unitech has the right to earn up to an additional approximate 23% working
interest in the prospect, which if fully exercised and combined with Unitech's
current working interest, could achieve a combined working interest of
approximately 31% in this high impact prospect.
3-D seismic interpretation indicates a structure believed to be similar
to the nearby YoYo and Sierra fields, which have produced more that 2 TCF
combined, and where numerous single wells have produced in excess of 40 BCF.
About Unitech Energy Resources Inc.
Unitech uses its proprietary image analysis and pattern recognition
system, called Leadscan, for a 'first look advantage' that drives Unitech's
exploration strategy. Please visit Unitech's website at www.leadscan.ca.
Shares of Unitech are listed for trading on the TSX Venture Exchange under the
Except for statements of historical fact, this news release contains
certain "forward-looking information" within the meaning of applicable
securities law. Forward-looking information is frequently characterized by
words such as "plan", "expect", "project", "intend", "believe", "anticipate",
"estimate" and other similar words, or statements that certain events or
conditions "may" or "will" occur. Forward-looking statements are based on the
opinions and estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those
anticipated in the forward-looking statements, which include but are not
limited to risks inherent in the oil and gas industry, regulatory and economic
risks, and risks associated with the company's ability to implement its
business plan. Unitech undertakes no obligation to update forward-looking
information if circumstances or management's estimates or opinions should
change except as required by law. The reader is cautioned not to place undue
reliance on forward-looking statements.
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For further information:
For further information: Unitech Energy Resources Inc., Steve Price,
President, T (403) 236-1170, E email@example.com; CHF Investor Relations,
Robin Cook, Account Manager, T (416) 868-1079 (ext. 228), E firstname.lastname@example.org