Newton Energy Corporation
TSX VENTURE : NTN

January 05, 2011 18:55 ET

Newton Energy Corporation Announces Appointment of New CEO and Planning Permissions for Two Drilling Sites

CALGARY, ALBERTA--(Marketwire - Jan. 5, 2011) - Newton Energy Corporation (TSX VENTURE:NTN) (the "Company" or "Newton") is pleased to announce the appointment of Steve Engwall as Chief Executive Officer effective January 4, 2011. The Company also announces that it has received two positive Decision Notices for two of its primary drill sites.

Steve Engwall is a British national based in the United Kingdom. Steve is a reservoir engineer with 34 years of Oil and Gas industry experience in the UK and continental Europe. Steve started with Schlumberger, worked with Occidental Petroleum for 10 years rising to Chief Petroleum Engineer, and 13 years at Total/Elf as Head of Negotiations. Steve has also provided senior strategic and planning consulting services including field development, coordination of joint ventures and reservoir engineering evaluation to various Oil and Gas companies operating in the UK and internationally such as Nexen, TAQA Bratani and Faroe Petroleum.

Newton would also like to announce that it has received two Decision Notices from the Nottinghamshire County Council for its Cropwell Butler and Harlequin well sites. These Mineral Planning Permissions allow the Company to proceed with its plan to explore and develop its 150,000 acres under license in the Onshore UK basin.

The Company would like to thank Tom Milne for serving as Interim CEO during an important period of transition and development of the Company.

About Newton

Newton is an emerging oil exploration company focused on the underdeveloped basin in the East Midlands area of the United Kingdom, a contiguous area covering 100,000 acres located to the Southwest of the city of Nottingham. Newton has an additional license covering an additional and adjacent 50,000 acres jointly with another UK company. With its 150,000 acres of exploration licenses on six contiguous blocks, management believes it will become a leading onshore United Kingdom oil company. Newton maintains offices in Nottingham, England and Calgary, Alberta.

ADVISORY:

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", "believes" 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 and development 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 or anticipated. The forward-looking statements contained in this news release are made as of the date hereof and Newton disclaims any responsibility to update these forward-looking statements except as required by applicable securities legislation.

Neither the 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.

Contact Information

  • Newton Energy Corporation
    Bahman Sadrehamshemi
    CFO
    (403) 410-3826
    barry@newtonenergy.ca
    or
    Newton Energy Corporation
    200, 638 - 11th Avenue SW
    Calgary, Alberta T2R 0E2