CALGARY, Jan. 27 /CNW/ - UNX Energy Corp. (TSX-V: UNX) ("UNX" or the
"Company"), today announced that a 3D seismic contract has been signed
between UNX's joint venture partner and operator for Petroleum Licence
2813, HRT Participações en Peróleo S.A. (HRTP3:BZ) ("HRT") and Polarcus
Limited (OAX: PLCS), to provide 3D seismic on Block 2813A in offshore
Namibia. UNX and HRT each own a 40% share in the 2813 contract area
with the remaining 20% being owned by Acarus Investments (Proprietary)
Ltd., a local Namibian company.
The joint venture plans to acquire 1,232 km2 of 3D seismic on the northern portion of Block 2813A in offshore
Namibia. The program is an extension of UNX's previously announced
seismic program on Block 2713A, which targets a very large feature with
multiple identified zones including a sub-shale feature. UNX's share of
the seismic program will be wholly funded from the monies the
corporation raised in July and November of 2010.
"The extension of the 3D seismic program into Block 2813A will provide
further detail on the size and extent of the large structural feature
we have identified on Block 2713A," said Mr. Gabriel Ollivier,
President and CEO of UNX Energy. "The seismic will supplement our
already robust data set and add to the compelling argument of the
Orange Basin's "Big Oil" prospectivity. This program greatly exceeds
all of the joint venture's required work commitments for Petroleum
Licence 2813, at approximately twice the minimum required work
commitment for the contract area."
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.
On Behalf of the Board of Directors
of UNX Energy Corp.
For further information visit our website at www.unxenergy.com
Sedar Profile #00016276
Forward Looking Information
This news release contains certain forward-looking statements that
reflect the current views and/or expectations of UNX Energy Corp. with
respect to its performance, business and future events. Investors are
cautioned that all forward-looking statements involve risks and
uncertainties including, without limitation, those relating to changes
in the market, potential downturns in economic conditions, foreign
exchange fluctuations, changes in business strategy, regulatory
requirements, demand for our resources, competition and dependence
on key personnel. These risks, as well as others, could cause actual
results and events to vary significantly. UNX Energy Corp. does not
undertake any obligations to release publicly any revisions for
updating any voluntary forward-looking statements.
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.
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