CALGARY, July 7 /CNW/ - Unitech Energy Resources Inc. ("Unitech") (TSXV:
URX) announces that it has entered into a farm-in agreement with a private
operator to drill a gas well test in the Stettler area of central Alberta. The
"turnkey" agreement provides Unitech with a 25% working interest in the well
and one section of land in return for a capital cost of $200,000 through
drilling and completion of the well. The well is expected to spud within three
weeks, targeting the Basal Quartz zone in the Lower Mannville formation.
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. The company 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
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For further information:
For further information: Unitech Energy Resources Inc., Steve Price,
President, T (403) 236-1170, E firstname.lastname@example.org; CHF Investor Relations,
Robin Cook, Account Manager (ext. 228), T (416) 868-1079, E email@example.com