Vesta Capital Corp. (United Hunter Oil & Gas Corp.)

TORONTO, Sept. 3 /CNW/ - Vesta Capital Corp. (VES: TSX-V) ("United Hunter" or the "Corporation"), is pleased to announce that at the recently annual and special meeting of shareholders the name change to United Hunter Oil & Gas Corp. was approved. Mr. Ernie Pratt was also approved, subject to regulatory approval, as a new director for the corporation. Arthur Halleran, Bradley Griffiths and Daniel Bloch were re-elected as directors.

Mr. Ernie Pratt, P.Geol. has a B.Sc. and M.Sc. from the University of Alberta in Geology and has over 38 years of experience in the petroleum industry. Mr. Pratt has served as President for Lateral Development Group Ltd. and Arakis Energy and as Vice President Exploration for Rocky Mountain Energy, Rally Energy, Odyssey Petroleum and State Petroleum. Internationally, during that time Mr. Pratt worked extensively in Northern and Eastern Africa especially in Egypt for Rally Energy and in Sudan where he focused the early exploration programs for Arakis Energy resulting in the addition of 600 MM barrels of new proven reserves in Sudan. Domestically, Mr. Pratt grew a new company to over 2000 boepd using conventional and horizontal well technology. Earlier in his career he spent 15 years with Petro Canada and 4 years with Chevron, in both western Canada and overseas.

Additionally, the following individuals were granted options: Mr. Ernie Pratt will be granted 350,000 options and Mr. Miles Nagamatsu, CA will be granted 75,000 options. All option grants are subject to regulatory approval and have an exercise price of $0.15 per common share based on the highest closing price over the last 3 days of trading. The options will expire five years from the date of grant and will vest 1/3 per year for 3 years with the first 1/3 vesting upon grant. Mr. Nagamatsu will provide high level financial accounting, support and advice to the corporation.

Arthur Halleran, CEO of United Hunter is very pleased that Mr. Pratt has joined the board of United Hunter as Mr. Pratt will be bringing very strong geological technical experience to the corporation.

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

These filings are available for review at www.sedar.com.

Certain information in this press release may constitute forward-looking information.  This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation.  Additional information identifying risks and uncertainties is contained in the Corporation's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts 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, BMgnt
Brisco Capital Partners
[phone]
[email protected]