BILLINGS, MT — (Marketwire) — 02/27/12 — UnionTown Energy Inc. (PINKSHEETS: UTOG) is pleased to provide stakeholders with an update on its corporate restructuring and listing in Europe by announcing that it is in final preparations to list on the Deutsche Börse (Frankfurt Stock Exchange).
A private investor has provided an advance of $300,000 for additional work on the first well at New Miami (#42-20H) as well as permitting and rig procurement for the next two wells at New Miami. The Company also notes that it is in talks for additional financing in conjunction with the new listing, expected to be made public within the next week, at which time shareholders should be notified of the share structure.
The Frankfurter Wertpapierbörse is one of the world–s largest trading centers for securities. With a share in turnover of more than 90 percent, it is the seventh largest stock exchange in the world. Deutsche Börse AG operates the Frankfurt Stock Exchange, an entity under public law.
Current studies compare the world–s primary market activities and terms for listing on the Frankfurt Stock Exchange to the leading international exchanges. The study analyzes terms for IPOs on the Frankfurt Stock Exchange and compares them with the stock exchanges Euronext, Hong Kong Stock Exchange (HKSE), London Stock Exchange (LSE), NASDAQ und New York Stock Exchange (NYSE).
UnionTown Energy Inc. (UTOG) is an Independent Oil & Gas Company whose focus is the acquisition, development and production of oil and natural gas. The company has assembled four leasehold properties in Montana and Wyoming totaling over 45,000 acres with potential oil and gas prospects. UnionTown Energy Inc. is a proud member of the Montana Petroleum Association. For more information about our company, please visit .
The information in this release includes forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this release. Although the Company believes that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. These forward-looking statements, specifically statements relating to expectations regarding commercial viability or production from its properties may well involve risks and uncertainties that include, among others, fluctuations in natural gas and crude oil prices; the timely receipt of necessary permits and approvals; market demand for, and/or available supplies of, energy-related products and services; unanticipated project delays, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, government regulation and taxation. You should carefully review the information disclosed within the section entitled “Risk Factors” contained in the Company–s Report on Form 10Q/A filed on September 23, 2011, as well as the information contained in this release, when assessing the Company and its business. The Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Patrick Smyth
Vice President of Finance