CALGARY, April 11 /CNW/ - UNX Energy Corp. (TSX-V: UNX) ("UNX", or "Company"), an emerging oil and gas company with interests in offshore Namibia, announces that a Management Information Circular outlining the proposed transaction with HRT Participações em Petróleo S.A. ("HRT") was mailed on April 6th, 2011 to all shareholders of record as of the close of business on Thursday March 31st, 2011. The Special Meeting for the proposed transaction will occur on April 27th, 2011, at the offices of McCarthy Tétrault LLP, Suite 3300, 421 - 7th Avenue S.W. Calgary, Alberta at 9:00 a.m. (Mountain Standard Time).

UNX would like to highlight an important change with respect to the proposed transaction.  The Brazilian tax on securities transactions (IOF securities tax) that was originally calculated and announced on February 24th, 2011 as being 1.88% resulting in a net share ratio of 0.005474 UNX common shares per HRT common share has now been confirmed at 1.5%.  This results in an effective increase in the net share ratio to 0.005495 HRT common shares for each UNX common share.

The Company also announced that UNX and HRT will conduct investor meetings in the following cities: Houston, Texas, on April 12th, New York, New York, on April 13th, Toronto, Ontario, on April 14th, and London, England, on April 15th.  UNX and HRT will be showcasing the strategic merits of the proposed transaction between UNX and HRT, in addition to updating investors on other corporate activity in both Namibia and Brazil.

Both the Management Information Circular and the Notice of Meeting are available on the Company's website at www.unxenergy.com and are filed on SEDAR at www.sedar.com. UNX recommends that readers refer to the documents in their entirety as they contain all of the pertinent details relating to the proposed transaction.

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 kilometres (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

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:

Gabriel Ollivier, President & CEO
Telephone: (403) 984-6430
Email: gabriel.ollivier@unxenergy.com  
          David Feick, Investor Relations
phone: (403) 218-2839
Email: dfeick@equicomgroup.com

Organization Profile

UNX Energy Corp.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890