/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES OR TO
ANY UNITED STATES NEWS SERVICES./
CALGARY, Jan. 6 /CNW/ - Petro Uno Resources Ltd. ("Petro Uno" or the
"Company") (TSXV: PUP.V) is pleased to announce that Jordan Kevol has been named as President
of the Company, effective January 6, 2011. As President, Mr. Kevol will
continue to be responsible for the exploration and development duties
as well as the day to day operations.
Mr. Ambrose will remain as CEO and Chairman of the Board of the Company.
His ongoing duties will include creating further business opportunities
for the company.
The Company would like to announce that it ended the year, 2010, with
average daily production of 380 barrels of oil per day (net). This
number does not include the 7 gross wells (3.5 net) that are waiting to
be completed and brought on production. These wells were anticipated to
be completed and on production by the end of 2010, however due to
availability of services and weather at the end of the year the wells
will be completed and put on production in January 2011. With the
additional 7 gross wells (3.5 net) the Company anticipates to reach 500
barrels of oil/day by January 31, 2011.
The Company plans to drill up to 15 gross horizontal oil wells (7.5 net)
in the Viking formation in the Kindersley area of Saskatchewan during
the first half of 2011. The Company continues to benefit from field
netbacks above $50 per barrel in the Viking formation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained herein constitute forward-looking
statements. Such forward-looking statements are subject to both known
and unknown risks and uncertainties which may cause the actual results,
performances or achievements of the Company to be materially different
from any future results, performances or achievements expressed or
implied by such forward-looking statements. Except as required by law,
the Company does not undertake any obligation to publicly update or
revise any forward-looking statements.
SOURCE Petro Uno Resources Ltd.
For further information:
Jordan Kevol - President, (403) 453-2266 Extension 232