Newton Energy Corporation

November 09, 2009 09:00 ET

Newton Energy Corporation Announces Operations Update

CALGARY, ALBERTA--(Marketwire - Nov. 9, 2009) - Newton Energy Corporation (TSX VENTURE:NTN) (the "Company" or "Newton") is pleased to report it has finalized its surface lease with a third party for the Cropwell Butler wells and has submitted its planning application to the Nottinghamshire County Council for final approval to drill the appraisal well. Chapman Petroleum Engineering Ltd. independently evaluated the primary target, Kinderscout Grit, at the Cropwell Butler Prospect and has estimated the proven reserves to be 116 Mbbl with additional probable reserves to be 771 Mbbl. The Cropwell Butler well will provide information and logs on the prospective Crawshaw, Kilburn Sill and Carboniferous Limestone horizons which have not been evaluated by independent engineers. In addition, the Company is in the final stages of completing additional surface leases and anticipates that these leases will be finalized before December 31, 2009. The Company also announces that it is currently in the final stages of negotiations to secure a drilling contractor to commence drilling which is anticipated in the first quarter of 2010.


Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates", and similar expressions, are forward-looking statements that represents management of Newton's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Newton. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Newton's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Newton's filings with the Canadian securities authorities. Accordingly, holders of Newton's shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Newton disclaims any responsibility to update these forward-looking statements except as required by applicable securities legislation.

Boes may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Neither 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.

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