CALGARY, April 18 /CNW/ - UNX Energy Corporation ("UNX") today announced that two leading independent proxy firms, ISS Proxy Advisory Services ("ISS") and Glass Lewis & Co. ("Glass Lewis"), have both recommended UNX shareholders approve the proposed Plan of Arrangement with HRT Participações em Petróleo S.A. ("HRT") at the Special Meeting of Security holders on April 27, 2011.

Glass Lewis summarized in its report, "The combination offers shareholders a substantial equity premium and the opportunity to participate in the enlarged company."  ISS and Glass Lewis are leading providers of proxy research and voting recommendations to institutional investors in Canada and the United States.

"We are pleased that ISS and Glass Lewis are recommending that security holders vote 'FOR' the arrangement, as it is consistent with the unanimous recommendation of our Board of Directors and management," said Mr. Duane Parnham, Chairman of UNX.  "In addition, several board members and management have agreed to a voluntary lock-up on our shares to demonstrate our firm support for this transaction and the great prospects for growth of the fully capitalized combined company."

Security holders are encouraged to follow the recommendations by submitting their vote prior to the April 25, 2011 proxy vote deadline.

Security holders who have questions or require assistance voting their shares should contact the Company's proxy solicitor:

Laurel Hill Advisory Group
North American toll-free at 1-877-304-0211
Collect 416-304-0211
E-mail: assistance@laurelhill.com

About UNX Energy Corp.

UNX Energy Corp. is a junior, independent oil and gas company, focused on exploration for crude oil in offshore Namibia, Africa. Headquartered in Calgary, Alberta, Canada, UNX's asset base consists of approximately 51,000 square kilometers (approximately 32,000 net) of offshore acreage, strategically located along the prolific South Atlantic Margin. Development of these highly prospective blocks is being advanced by an experienced management team, qualified technical staff and strong in-country relationships. UNX employs strategic technical expertise to optimize the probability of exploration success in the region. UNX is committed to conducting its business in a socially and environmentally responsible manner, ultimately working towards the goal of sustainable development in Namibia's oil and gas sector for the benefit of all stakeholders.

About HRT Participações em Petróleo S.A. 

HRT Participações em Petróleo S.A. is one of the largest independent oil and gas exploration and production companies in Brazil. The HRT Group comprises three main subsidiaries: HRT O&G Exploração e Produção de Petróleo Ltda., IPEX (Integrated Petroleum Expertise Company Serviços em Petróleo Ltda.) and HRT Netherlands B.V. The Company retains a 55% interest in 21 exploratory blocks in the Solimões Basin. HRT also operates five exploratory blocks on the Namibian coast. The Company retains a 100% interest in two of them, in the Walvis Sub-basin, and a 40% interest in the other three, in the Orange Subbasin. HRT's team includes PhDs and masters in geochemistry, geophysics, biology and engineering, most of them former employees of Petrobras and ANP (Brazil's petroleum agency). HRT is committed to minimizing any possible environmental impacts in the sites where it acts. Its commitment with the local communities is towards health conditions, security and quality of life. For more information, please visit the Company's website: www.hrt.com.br/ir

About ISS Proxy Advisory Services

ISS is the leading provider of corporate governance solutions to the global financial community.  ISS is a subsidiary of MSCI Inc., a leading provider of investment decision support tools to investors globally.

About Glass Lewis  & Co.

Glass Lewis & Co. is a Leading independent governance analysis and proxy voting firm assisting institutions globally that have investment, financial or reputational exposure to public companies.

On Behalf of the Board of Directors
of UNX Energy Corp.

Duane Parnham

For further information visit our website at www.unxenergy.com
Sedar Profile #00016276

Forward Looking Information

This document contains forward-looking information and statements.  All information and statements other than statements of historical fact contained in this document are forward-looking information and statements, including, without limitation, statements regarding the transaction, future financial position, business strategy, proposed acquisitions or dispositions, budgets, litigation, projected costs and plans and objectives of or involving UNX or HRT.  Securityholders can identify many of these statements by looking for words such as "believe", "expects", "intends", "projects", "anticipates", "estimates", "continues" or similar words suggesting future outcomes or statements regarding an outlook or the negative thereof.  These forward-looking statements may include, but are not limited to, statements with respect to: the transaction, business strategy and objectives, exploration plans, development plans, acquisition and disposition plans and the timing thereof, the timing of various steps in the transaction, and the satisfaction of listing conditions.  There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur.  Forward-looking information and statements are subject to risks, uncertainties and assumptions, including those discussed in the Management Information Circular of UNX dated April 1, 2011 (the "Circular"), which readers of this document are urged to read in its entirety.  Although UNX believes that the expectations represented in such forward-looking information and statements are reasonable, there can be no assurance that such expectations will prove to be correct.  Some of the risks which could affect future results and could cause results to differ materially from those expressed in the forward-looking information and statements contained herein include: the impact of general economic conditions, industry conditions, securityholder and court approval of the transaction, governmental regulation including the timely receipt of required regulatory approvals, volatility of commodity prices and other matters beyond the control of UNX.  Readers are cautioned that the foregoing list is not exhaustive.  Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by UNX and described in the forward-looking statements or information.

Neither the 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.

SOURCE UNX Energy Corp.

For further information:

Laurel Hill Advisory Group:
North American toll-free at 1-877-304-0211
Collect 416-304-0211
E-mail: assistance@laurelhill.com

Profil de l'entreprise

UNX Energy Corp.

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