United Reef Limited

United Reef Limited

May 03, 2007 15:06 ET

General Reef Corporation Appoints New Officers

TORONTO, ONTARIO--(CCNMatthews - May 3, 2007) - United Reef Limited (TSX VENTURE:URP)(CNQ:URPL) ("United Reef" or the "Company") is pleased to announce that it has been advised by General Reef Corporation ("General Reef") that it has appointed Douglas Brown as President and Paul Mackay as Vice President, Exploration, effective April 30th. Doug was appointed as a director of United Reef in December 2006 and Paul has been the Vice-President, Oil and Gas of United Reef since June 2005. The Company presently owns 5% of General Reef and has the right to increase its ownership in General Reef as described below.

Doug's most recent position was Vice-President of Production and Engineering of Rally Energy Corp. during that company's period of rapid growth and share value appreciation. Doug has over 25 years of experience in oil and gas discovery, development and production operations and optimization. He has executed capital and operating business plans in most of Western Canada's play types. His technical and management history includes sixteen years with BP /Amoco Canada, two years as Vice-President of Corporate Development for Flint Energy Services, and he is the principal of an independent consulting company, JBD Services, Ltd, which specializes in oil and gas engineering and production optimization.

Doug received his B.Sc. in electrical engineering from the University of Calgary in 1985. He holds the designation of P.Eng. granted by the Association of Petroleum Engineers, Geologists and Geophysicists of Alberta (APEGGA) and is a member of the Society of Petroleum Engineers (SPE).

General Reef is a private company with offices in Calgary, Alberta. General Reef was formed pursuant to an agreement between General Gas Corporation ("General Gas"), a private Alberta company and United Reef for the purpose of acquiring, exploring and developing oil and gas properties in North America (see press releases dated November 16, 2006 and March 30, 2007). General Gas was founded by Douglas Brown (P.Eng), Ron Hutzal (P.Eng) and Paul MacKay (P.Geol, P.Geoph). General Reef is managed by Messers, Brown, Hutzal and MacKay. The Company has an option to increase its ownership interest in General Reef to 85% by making further capital contributions through subscriptions for additional shares of General Reef. General Reef's management is continuing to develop their portfolio of oil and gas prospects and advance negotiation of several farm-in arrangements.

Shares issued: 63,660,287

Fully diluted: 75,292,645

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

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