United Hunter Oil and Gas Corp. Commences Canadian Well Re-Completion Program

CALGARY, Nov. 9 /CNW/ - United Hunter Oil & Gas Corp. (UHO: TSX-V) ("United Hunter").

United Hunter Oil & Gas Corp. (UHO) (TSXV - UHO) is pleased to announce that it plans to commence between the last week of November and first week of December, 2010 its Alberta, Canadian well re-completion programs utilizing a new completion technology on two properties, equipment permitting.

The first program is planned at Atlee Buffalo within the Mannville G oil pool that was discovered in 1980 and is currently suspended. The Mannville G pool at Atlee Buffalo (TWP 21; RGE 5; W4) has a large aerial extent, thick pay zones and very good reservoir properties. UHO has increased its working interest in the section to 95% through a purchase of an additional 47.5% from 868218 Alberta Ltd. for $54,648.50. The first well to re-enter at Atlee Buffalo will be a suspended well transferred to UHO from Canadian Natural Resources Ltd. Successful recompletion of this first well is expected to lead to the potential re-completion of 9 suspended and abandoned wells on this property.

The second program will be within the Wabamun formation D-1A oil pool, discovered in 1963, on 2560 acres consisting of four contiguous sections at the Leduc Woodbend Field (TWP 50; RGE 26; W4). The Wabamun D-1A pool has 41^o API oil and has had only intermittent production with very low recoveries suggesting there is substantial oil left to recover. The initial program will consist of re-completing two wells. If successful there are more than 64 suspended or abandoned wells that could potentially be re-entered; 12 suspended wells of the 64 wells are adjacent to existing pipelines and another 13 suspended wells of the 64 wells are only 400 meters or less from existing pipelines. Predominantly all the wells produced oil and gas from lower formations and not the Wabamun.

The access to the Wabamun D-1A oil pool was obtained through a farmin between UHO and MEC Operating Company ULC ("MEC"). The farmin agreement allows UHO to earn 100% of the Wabamun Petroleum & Natural  Gas rights in each 40 acre spacing in which UHO completes a well, subject to a 10% convertible Overriding Royalty payable to MEC which can be converted to a 30% working interest after 60 days of production. UHO has a joint venture with a private company, Snowcap Energy Inc., who is not a signatory to the farmin agreement but has the right to earn 20% by paying 28.5% of the costs of the re-completion program. UHO will execute the re-entries and re-completions, but once production is initiated in each well MEC will operate the project as MEC owns all the existing pipelines and facilities.

Dr. Halleran, CEO of UHO comments "the two Canadian re-completion programs are consistent with UHO's mandate to secure low risk oil projects with suspended wells. The MEC project is particularly exciting for UHO as the light oil Wabamun D-1A pool is underdeveloped, has numerous wells that can re-completed and the gathering system and facilities are already established".

United Hunter Oil & Gas Corp. (www.unitedhunteroil.com) is a Canadian based corporation with management very experienced in the oil and gas industry and has projects in California and Canada. United Hunter Corp is publicly traded on TSX Venture Exchange (TSX-V: UHO). The Corporation's public filings may be found at http://www.sedar.com.

Certain statements contained in this press release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. These statements relate to analyses and other information that are based upon forecasts of future results, estimates of amounts not yet determinable and assumptions of management. 

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or are not statements of historical fact and should be viewed as "forward-looking statements".  Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Such risks and other factors include, among others, costs and timing of exploration and production development, availability of capital to fund  exploration and production development; political, social and other risks inherent in carrying on business in a foreign jurisdiction, the effects of a recessionary economy and such other business risks as discussed herein and other publicly filed disclosure documents.  Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.  There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.

Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Corporation undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

This news release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events.  When used herein, words such as "intended" and similar expressions are intended to identify forward-looking statements.  Forward-looking statements are based on assumptions by and information available to the Corporation.  Investors are cautioned that such forward-looking statements involve risks and uncertainties.  Actual results may differ materially from those currently anticipated.  The forward-looking statements contained herein are expressly qualified by this cautionary statement.

The TSX.V Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

For further information:

Dr. Arthur Halleran
CEO
[phone]
[email protected]

Scott Koyich, President
Brisco Capital Partners
[phone]
[email protected]

or

Graeme Dick, BMgmt
Brisco Capital Partners
[phone]
[email protected]